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Business Continuity Planning

Purpose

The purpose of Business Continuity Planning, BCP is to help ensure your company will survive in the event of fire or other major loss incident and that the planned goals and objectives of your business can still be achieved.

BCP Implementation

1. Establish the key objectives and framework 2. Determine the key or critical business activities 3. Conduct a Business Impact Analysis ( identify and assess major risks) 4. Nominate BCP responsible managers for critical business activities 5. Review emergency procedures, communications, resources, short term and full recovery procedures and costs. 6. Integrate Disaster Recovery plans for IT and communications 7. Agree and issue final BCP and risk improvement strategy 8. Test the BCP and modify as needed 9. Agree on annual reviews of the BCP for continual improvement and strategic planning

Benefits

BCP will provide Survival for your business! Insurance can only provide compensation.
Loss statistics show that most companies which incur a major loss such as loss of their IT systems, will fail to re-open or to survive more than two years.

BCP demonstrates good corporate governance.
BCP is a live document which incorporates the most important elements of risk management with regular reviews of the major risk exposures facing the company and the implementation of appropriate risk treatment strategies.

BCP provides good peace of mind for stakeholders and job security for employees.
The BCP will help ensure that the goals and objectives of the company are met despite a major loss event. This also increases confidence for all stakeholders and shareholders.

BCP will assist the business develop future strategic plans.
The methodology applied to establish BCP is also beneficial for the company’s strategic planning. BCPs can be developed for new ventures to help secure investment capital and to incorporate good risk management from the start.