When disaster strikes, your organization could suffer a range of consequences. Customers could leave, suppliers might withdraw support, and investors or capital sources might stop funding. These consequences can put pressure on executives to keep operations running smoothly. A well-crafted business continuity can help your company weather any crisis.

A business continuity plan defines the critical functions that must be maintained during a disaster and defines what resources are needed to operate those services. The first step in the process is to conduct a business impact analysis (BIA) and an assessment of risk (RA).

The company has to decide what it will respond to any threat that is identified, and how much www.happyboardroom.com/20-role-of-the-board-in-business-continuity-planning/ downtime is appropriate for each critical job. The next step is creating an emergency response plan. This is a detailed document that includes step-by-step instructions. The plan should include the contact information for emergency services recovery strategies, along with detailed actions.

It is a good idea also, to test and revise business continuity plans on a regular basis. In this period, you can use tabletop exercises, simulations as well as other types of tests to determine whether the plan is successful in a real-world scenario. These tests can also highlight any areas that need improvement. Keeping your business continuity strategy current is essential, particularly as your technology, processes and employees change over time. Regularly reviewing and testing can ensure your plan is ready to tackle any disaster.