Formulating Your Business Continuity Plan ds-inc.com (609) 655 1707
Formulating Your Business Continuity Plan The first step to protecting your business from any negative setbacks is creating a systematic process that will help you prevent and recover from potential threats. How ready are you to devise a method to the madness? Mayhem can strike your business at any moment, from any direction. Allowing a disaster to hit without any preparation could potentially lead your company down a dark alley. The first step to protecting your business from any negative setbacks is creating a systematic process that will help you prevent and recover from potential threats. Formulating your business continuity plan ensures a safety net with solutions to reference in case your business is affected by different levels of disasters. Unexpected events ranging from employee errors to natural disasters can cause a major disruption in your business s productivity. Companies are still failing to put strategic contingency plans in place. Analysts from Hughes Marketing Group have found that over the course of a month, 90% of small companies (fewer than 100 employees) spend less than 8 hours planning or managing their business continuity plans. Would your business be able to survive a sudden catastrophe in its current state?
Formulating Your Business Continuity Plan Dynamic Strategies understands that it s not about being fearful of the unknown, but being ready to react in the right way. Preparation comes in many forms and can be modified for different situations - everything from fires and floods to cyber attacks or human error. Constructing a plan that places precautionary measures in order to survive and continue operations is necessary when dealing with the effects of almost any emergency. We have researched some of the best practices to follow when formulating your business continuity plan. HOW TO PREPARE YOUR BUSINESS CONTINUITY PLAN Impact Analysis Phase The sole purpose of a business continuity plan is to recover your operations following an emergency and defining recovery steps to each unique threat. This process begins with the analysis phase, which consists of threat analysis and impact scenarios. A business impact analysis leads with distinguishing between critical/urgent and non-critical/non-urgent organization functions and activities. The scopes are perceived by how the business is affected by the cost of recovery solutions. For each scenario, two values are then assigned: recovery point objective and recovery time objective. Constructing a plan that places precautionary measures in order to survive and continue operations is necessary when dealing with the effects of almost any emergency. Recovery Point Objective This is the opportunity for a company to define the maximum amount of time in which data might be lost. The recovery point objective lays out a parameter for a disaster recovery plan and sets the standard of how much down time is excusable.
Formulating Your Business Continuity Plan Did you know that 93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year of the disaster? And 50% of businesses that found themselves without data management for this same time period filed for bankruptcy immediately. Recovery Time Objective This is where the company decides the acceptable amount of time it will take to restore their business functions. Both recovery objectives are meant to set the standard of tolerable data loss for each potential threat. The recovery time objective must ensure that the Maximum Tolerable Period of Disruption (MTPoD) for each activity is not exceeded. Solution Phase The solution design is the second step when identifying cost-effective disaster solutions. The solution measurement is based off the lowest point of application and data fulfilments versus the minimum time it will take to reboot the applications. Implementation Phase Practice makes perfect. Testing your business continuity plan will help work out any kinks or discrepancies. Plans that are not up to par or have inaccurate recovery requirements can be revised. WHY BUSINESSES HAVE PROBLEMS FORMING A BUSINESS CONTINUITY PLAN The question that comes to mind is why aren t more businesses implementing a business continuity plan? There are common challenges that could easily cause major roadblocks into your business s path toward success. One of the leading setbacks is the increase of exponential expenses that come with the beginning stages. Businesses are required to put money into
Formulating Your Business Continuity Plan the installation and maintenance of additional hardware, software, and data center infrastructure, but most owners are reluctant to make the investment. Another challenge is the pressure to handle everyday, ordinary duties while finding time to construct or update any disaster recovery documentation. Many owners feel too overwhelmed and end up choosing to have an all or nothing approach for storage and backups leaving business continuity on the bottom of their priority list. However, you never know when disaster might strike, and it is imperative for the survival of your company to form a well thought-out business continuity plan. In a survey, performed by Comptia, 75% of businesses indicated that their data was one of their most valuable assets. However, less than 50% of the same businesses reports having a comprehensive BC/DR plan. The same study showed that less than 50% of companies reported having a partial plan in place. Formulating your business continuity plan ensures a safety net with solutions to reference in case your business is affected by different levels of disasters. PARTNERING UP FOR THE BEST BUSINESS CONTINUITY PLAN There are plenty of companies that support business continuity. At Dynamic Strategies, we always put your success and security first. Don t allow your business to suffer from cyber attacks, natural disasters, or data breaches. We have experienced engineers providing IT support and managed services to businesses just like yours. Get in touch with us!
ds-inc.com DYNAMIC STRATEGIES 259 Prospect Plains Road, Building K, Suite 301 Cranbury, NJ 08512 (609) 655 1707 ds-inc.com info@ds-inc.com