What is the business continuity planning process

External environmental interfaces e. The interactions between processes The interactions between Business Units The interactions with suppliers, vendors and customers The interactions with the external physical and business environment information and workflow Staffing and skills requirements.

What is the business continuity planning process

A firm's BCP must be appropriate to the scale and scope of its business. BCP procedures must be reasonably designed so the firm can meet its existing obligations to customers. A firm must disclose to its customers how its BCP addresses the possibility of a significant business disruption and how the firms plan to respond to events of varying scope.

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This BCP disclosure must be made in writing to customers when they open their account, posted on the firm's website if they maintain one and mailed to customers upon request. It may be tailored to the size and needs of the firm, but at a minimum it must include the following elements: Data backup and recovery hard copy and electronic ; All mission critical systems; Alternate communications between customers and the firm, and between the firm and employees; Alternate physical location of employees; Critical business constituent, bank, and counterparty impact; Regulatory reporting; Communications with regulators; and How the firm will assure customers' prompt access to their funds and securities in the event that the firm determines that it is unable to continue its business.

A firm must address the elements to the extent applicable and necessary. If any of the elements is not applicable, the firm's BCP must document the rationale for not including the element in its plan.

If a firm relies on another entity for any one of the elements or any mission critical system, the firm's BCP must address this relationship.It is now generally recognized that Business continuity planning and disaster recovery planning are vital activities.

what is the business continuity planning process

However, the creation of (and maintenance of) a sound business continuity and disaster recovery plan, is a complex undertaking, involving a series of steps.

This paper was developed to provide general background to assist clients in decisions related to outsourcing IT. Please note that this paper presents professional opinions intended to apply generally and that clients must take appropriate care to evaluate them in light of their specific needs.

what is the business continuity planning process

A business impact analysis (BIA) predicts the consequences of disruption of a business function and process and gathers information needed to develop recovery strategies.

Potential loss scenarios should be identified during a risk assessment. Operations may also be interrupted by the failure of a supplier of goods or services or delayed deliveries. Business Continuity Planning Process Diagram - Text Version When business is disrupted, it can cost money.

Lost revenues plus extra expenses means reduced profits. Business Continuity Planning. Business Continuity Planning is the way an organization can prepare for and aid in disaster recovery. It is an arrangement agreed upon in advance by management and key personnel of the steps that will be taken to help the organization recover should any .

Business Continuity Planning is a proactive planning process that ensures critical services or products are delivered during a disruption. A Business Continuity Plan includes: Plans, measures and arrangements to ensure the continuous delivery of critical services and products, which permits the organization to recover its facility, data and .

What is Disaster Recovery (DR)? | webkandii.com