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Business Continuity Management
In today's world
of the unexpected, be it an act of god, acts of terrorism,
or just a natural disaster or interruption of essential services,
there is a requirement of a commitment to protect staff and
ensure the continuity of critical businesses and functions.
In order to protect the corporation's franchise, mitigate
risk, safeguard revenues and sustain both stable financial
markets and customer confidence. The development, implementation,
testing and maintenance of an effective global, regional or
local Business Continuity Management process is an essential
requirement to sustain these objectives.
Business Continuity
Management is thereby a significant component of operational
risk management. It requires a whole-of-the-business approach
that includes policies, standards and procedures for ensuring
that specified operations can be maintained or recovered in
a timely manner in the event of a disruption. Its purpose
is to minimise the operational, financial, legal, reputational
and other material consequences arising from a disruption.
Effective business continuity management concentrates on the
impact, as opposed to the source of the disruption, which
thereby gives the greater flexibility to address the broad
range of potential disruptions. At the same time however,
organisations cannot and should not ignore the nature and
the root cause of the risks that they are exposed to.
Effective Business
Continuity Management typically incorporates
• A Business Impact Analysis.
• Recovery Strategies.
• Business Continuity Plans.
• Testing Programs.
• Training and Awareness Programs.
• Communication and Crisis Management Programs.
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Business
Continuity