The more common reasons concern the protection of:
- Company assets including data and information
- Company revenue
- Company market share
- Stakeholder interests
- Statutory and regulatory changes
- Legal obligations to take precautionary measures
- Auditors and Insurance Company document requirements
Business Continuity Plan (BCP)
Ensures that essential business functions continue to operate during and after a disaster.
Seek to protect their mission critical services.
Re-establish services to a fully functional level as quickly as possible after a disaster.
- Cover most or all of an organisation’s critical business processes and operations.
Disaster Recovery Plan (DRP)
- Technical plans developed specifically to allow them to recover a particular business application.
- The most well known example is IT DRP.
- The typical test for a DR Plan for IT would be; “if we lost our IT services how would recover them?”
Advantages of BCP & DR Planning
- A recovery will be quicker and more efficiently carried out.
- An increased likelihood of business survival.
- An increased likelihood of meeting statutory and legal requirement.
- A possible reduction in insurance premiums.
- An organisation may experience an improved credit rating.
- May assist in securing business contracts with key customers.