What Makes a Business Continuity Plan Work
What Characterizes a Successful Business Continuity Plan?
In an ever-changing, volatile environment, disruptions to business can occur anytime. A business continuity plan helps ensure businesses in Issaquah, WA, can continue to provide products or services during and after a disruption.
When developing your continuity plan, there are five key elements to consider.
1. Assess the Risks
Your plan should include a threat and risk analysis that recognizes internal and external risks and vulnerabilities. Risks can be anything from natural disasters and cyberattacks to civil disorder and supplier failure. Identify any potential risks or threats and their possible consequences. Knowing a risk can help you anticipate its cost, determine its impact, and clarify recovery time.
2. Develop an Emergency Response Plan
Once you know your business’s potential risks, you should develop a response strategy for each one. Doing so can help minimize or prevent the risk. A response plan should identify each action needed and the people involved, resources needed, and a timeline for completing the actions.
3. Identify Key Roles and Responsibilities
When preparing your business continuity plan, include key people and clearly identify what their roles and responsibilities will be during and after a crisis. In most cases, these will be managers and senior staffers. You should also prioritize and allocate resources they will need to perform their duties.
4. Maintain Lines of Communication
Clear, effective communication, both internal and external, is essential during a crisis. Internally, effective communication can instill confidence in your company’s ability to deal with a crisis. Externally, an open line of communication can maintain a level of trust and satisfaction with your suppliers and customers.
5. Test Your Plan
Your business continuity plan should be shared with all of your employees and tested by using realistic scenarios. Testing will help find flaws in the plan and will help ensure key personnel understands the plan and what is expected of them.
A good continuity plan can help reduce your business’s recovery time, maintain customer satisfaction, and instill confidence in your employees if a disruption occurs.