Business Continuity Plan Vs Disaster Recovery

Business Continuity Plan Vs Disaster Recovery-83
Companies that don’t plan for disaster recovery are at an increased risk of shuttering their doors.In fact, roughly 40 to 60 percent of small businesses that experience a disaster never reopen, according to the Federal Emergency Management Agency.

Companies that don’t plan for disaster recovery are at an increased risk of shuttering their doors.In fact, roughly 40 to 60 percent of small businesses that experience a disaster never reopen, according to the Federal Emergency Management Agency.

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The nature, magnitude and complexity of business operations are gauged.

A wide range of risk factors that can disrupt processes are assessed.

A recent study by professional services firm BDO, shows examples of disasters top tech companies fear will cause lost continuity at their organization: A business continuity plan should lay out the critical aspects of a business’ operation and the steps required to protect them in the event of a disaster.

The following assets might be among the most valuable to protect: Not all disasters are as dire as the examples above.

Your organization, your team, and your clients cannot afford to be part of that 60 percent of businesses that do not reopen after a disaster.

Disaster planning, while linked to business continuity, is unique from it in some key ways.The magnitude of damage can be greatly reduced if an organization's emergency team proactively takes into consideration the possibility of such occurrences while designing their infrastructure.Execution becomes vital when disaster strikes as rescue teams have very limited timeframes for completing key tasks.That’s why implementing a disaster recovery plan will safeguard you against damage done from a disaster and get your business back in operation quickly without issue.Even after understanding the damaging impact of a disaster, most businesses are not proactive about protection as they should be.A detailed documentation of activities and procedures to be deployed gives emergency teams a reliable point of reference for knowledge transfer.Enterprises can also seamlessly transition manpower related issues such as attrition and training of new staff.A 2014 survey by Travelers found that only 55% of surveyed businesses have created a business continuity or disaster recovery plan.Business continuity and disaster recovery plans are very different in nature, although similar in overall goals.Structurally, disaster recovery plans are highly flexible so that rescue and restoration efforts can be improvised and adapted to unexpected developments.This is essential as any hazardous occurrence is erratic by nature and the variables that influence its progression can never be accurately forecasted.

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