As Business Continuity Management (BCM) practitioners know well, the business continuity plan (BCP), which helps ensure critical operations remain available and minimize business impacts, irrespective of the type of incident or disruption, is the cornerstone of any best-practice business continuity program. The BCP is absolutely essential to the business continuity manager’s task of identifying, quantifying, and minimizing potential business interruptions and risks.
Here, the data is clear. Business closure numbers are heavily weighted towards companies that fail to develop BCPs before major incidents; in fact, as many as three in every four organizations without a business continuity plan fail within three years of a disaster.
As dispositive as those numbers are, there’s still an element missing; for companies that have developed BCPs and disaster recovery plans aren’t out of the woods quite yet. Having a BCP during the prevention and preparedness phases is one thing, but executing the plan promptly once a disaster has taken place is the key business survival factor. After all, companies that are unable to resume operations within 10 days of a disaster striking are unlikely to survive. Further, 80 percent of companies that do not recover from a disaster within one month are likely to go out of business.
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