Have a Business Continuity Plan BEFORE Disaster Strikes

Have a Business Continuity Plan BEFORE Disaster Strikes

Hundreds of businesses directly affected by 9/11 are no longer in existence. Sadly, after any disaster such as a major fire or other natural disaster, many businesses fail because they have not prepared for business continuity in the event of a disaster. The time to prepare for business continuity is before disaster strikes.

Consider these elements when preparing your Business Continuity Plan:  

1. Identify the primary business functions critical to the continuation of your business. Develop strategies for each function that will hasten resumption of your business. Critical business functions may include:

    Facilities - Administrative Offices, Warehouse & Support Operations
    Technology/Information - Operational Information, Data Center and Media
    Communications - Local Area Network, Phone Systems and Marketing/Sales System
    Human Resources - Employees, Intellectual Capital, Vendors and Contracted Services

2. Work with your insurance agent and insurance company to identify critical business functions and cost estimates for extra expense and business interruption in the event of a covered loss. Review insurance coverage and limits for adequacy.

3. Work with vendors and contracted services that are considered critical to assure priority service in the event that your business is interrupted. Priority service may be needed for equipment, media, supplies, and other physical resources, technical resources, shipping and required facilities. Develop relationships with other vendors and contracted services that could be critical to the success of the recovery and backup process.

4. Create an Emergency Management Team (EMT). They are your first responders who will coordinate and monitor the implementation of the recovery strategies for each of the critical business functions. They will work with your key external partners (contracted services, key clients, vendors, insurance agent, insurance carrier, etc.) and public service agencies (Police, Federal Emergency Management Teams, City/Local Government, etc.). The EMT must understand your Business Continuity Plan and their duties and responsibilities in the recovery of your business. The EMT is generally made up of key Management and Technical staff members.

Questions?

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This article provides general information and recommendations that may apply to many different situations. Any recommendations described in this article are not intended to be specific to your unique situation. Consult with your staff and specialists to determine how and whether the information in this article might guide you in developing specific plans or procedures for your operations. This article does not substitute for legal advice, which should come from your own counsel.

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Source: http://disasteradvisor.ffido.com/content/have-business-continuity-plan-disaster-strikes

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  • Last modified on Tuesday, 08 December 2015 04:33
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