Risk Analysis and Review
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A Risk Analysis and Review, or RAR identifies existing risks and threats that the business organization is exposed to, especially with respect to its geographic location, processes and procedures. |
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Threat Identification
There are many threats that can disrupt an organization's business operations. The identification and evaluation of threats are necessary to prepare the prevention and recovery procedures.
- Have preventative measures that are required been identified?
- Have previously unnoticed vulnerabilities that need to be addressed by the BC Plan and procedures been highlighted?
- Are the staff members aware of the threats to the organization?
- Have cost-sharing options or controls for threat prevention been identified?
- Has the organization identified its threats?
- Are the threats categorized?
- Water
- Fire
- Service Failure
- Mechanical breakdown or software failure
- Accidental or deliberate damage to property and assets
- Personal problems
- Environmental/ facility-wide damage
- Has the organization identified threats from both internal and external sources, such as natural, man-made, and technological disasters?
- Has the organization assessed the impact and probability of such Threat occurrences?
- Has a cost/benefits analysis been undertaken in respect of the identified threats?
- What controls/safeguards have been established to mitigate against the effects of identified threats?
- Has the effectiveness of controls and safeguards been reviewed?
- Has the Key Disaster Scenario been identified and approved by the Executive Management?
Resource
Goh, M. H. (2016). A Manager's Guide to Auditing and Reviewing Your Business Continuity Management Program. Business Continuity Management Series (2nd ed.). Singapore: GMH Pte Ltd.
Extracted from "BCM Questionnaires 3: Risk Analysis and Review"
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Find out more about Blended Learning BCM-8530 [BL-A-5] & BCM-8030 [BL-A-3]