Is It Time to Review Your Business Continuity Plan?

The more you review, the better the execution in times of crises.

By Steve Mancia On Jun 29, 2016

Any business – regardless of size – would be impacted by an unplanned disruption. That is why it is important to have a Business Continuity Plan (BCP) in place, and that you review it regularly.

The BCP is intended to identify the impact of significant disruptions to your business as well as evaluate the processes that are in place to minimize loss and document recovery procedures. While you can’t control many of the events that could cause a business disruption, you can ensure that your plan is as current and effective as possible to help mitigate their effects.

As a best practice, you should conduct a review of your plan annually; however, more frequent reviews are recommended.

When looking at your BCP, you should also evaluate your emergency response, crisis communication, and information technology data center recovery procedures.

As you conduct your BCP assessment, here are some questions you should be asking:

• Have all critical business processes, systems, applications, employees and resources been identified and updated?
• Have specific teams and responsibilities been established and updated in your plan, so that everyone understands what to do in an emergency? Does your plan clearly indicate who is responsible to activate the plan and do all employees understand that process?
• Is the plan information secured and readily accessible for all essential management personnel to access quickly in an emergency? If your facility is unavailable for any reason, do employees know the alternate procedures or where they might temporarily relocate?
• Does it include all potential risks of interruption to your business?
• Does each department have an emergency call tree so that it knows whom to contact in an emergency? Does the personnel information include multiple phone numbers and personal e-mails, so that your company has a better chance of reaching its employees?
• Have you introduced any new products, services or technologies that need to be addressed in your plan? Also, does your plan have updated information that reflects any changes with your suppliers or vendors?

Your BCP is a living document. It’s only as good as the information in it. Regular exercises, tests and drills are critically important to gauge the level of your BCP teams’ preparedness. You should test all manual, automated and backup procedures to ensure they are effective.

The worst time to prepare for a crisis is when it’s happening. The more frequently you plan, review and drill for a possible event, the less likely there will be gaps in your BCP and the better your chances will be for a smooth and safe execution.

About the Author: Steve Mancia is manager of business continuity for NJM Insurance Group. 

 

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