Challenge of Preparing for the Unpredictable
Natural disasters, pandemics, and other crises can cause interruptions to critical business functions, slowing operations down or stopping them altogether. These black swan events are unpredictable by definition, occurring without advance warning to unknown effect.
While organizations can’t predict emergencies, they can be prepared to respond with resiliency when they arise. In 2019, the International Organization for Standardization published an update to its 2013 ISO 22301, providing new requirements on how to protect against, respond to and recover from disruption. Central to this guidance is the directive to implement, maintain and improve a business continuity management plan (BCMP).
A BCMP helps businesses plan for interruptions, minimizing their impact and restoring operations. Through detailed risk assessment, analysis and dependency modelling, organizations can effectively identify risk indicators, gauge financial impacts and account for likely chain reactions. Ongoing monitoring and periodic testing enable risk and compliance professionals to measure and calibrate their response. Finally, accessibility efforts ensure that plans are available anywhere and at any time, even in the event of a disaster.
We can help with your business continuity planning