4 Painless Steps for Effective Continuity Planning [Guide]
What you need to know about continuity planning.
For most businesses, a disruption in operations can be costly or even catastrophic. In order to effectively mitigate the impact of any unplanned interruption, developing an effective continuity plan is critical. So, now you might be wondering: “what is continuity planning?”
Continuity planning is the process of creating procedures to eliminate or reduce the impact of threats to normal business operations. These plans assess all potential threats, both small-scale like a power outage. Or longer-term, such as a fire that renders a business unusable for an extended period of time. These plans include everything from having a backup power source to having a secondary option to house critical business functions as well as personnel in the event your physical workspace is damaged.
For many industries, continuity plans must adhere to guidelines established by government regulatory agencies. Understanding how to build an effective businesses continuity plan is the first step to ensuring that your business is protected from all potential threats.
4 steps for effective continuity planning
This Travelers article identifies 4 necessary steps to creating an effective business continuity plan:
1. Identify threats and risks. Sounds simple, but are you sure that you understand all the potential issues that can negatively impact your business?
2. Conduct a business impact analysis. Once you understand the risks, do you understand how they would affect normal business operations?
3. Adopt controls for prevention and mitigation. You know the issues and the impact, but do you have the solutions in place?
4. Test your plan often. In order to ensure that your solutions are effective, you must routinely test and adjust the plans. This routine testing will help identify new threats, better approaches to mitigation and familiarity with the threat resolution procedures.
Operating a business means planning for all potential scenarios that can negatively impact your business’ success. Building a continuity plan is like an additional layer of insurance to protect your business interests. Need a partner to help with your continuity planning? Contact us.