[BCM] [FP] [E1] [C3] BCM Goals

Chapter 3

For Frasers Property

A critical component of this framework is the establishment of clear and actionable organisational goals for Business Continuity 
Management (BCM).

These goals define the overarching purpose and direction of BCM efforts, aligning them with the organisation’s strategic priorities.

Understanding the Role of Organisational Goals in BCM

Organisational goals for BCM serve as the guiding principles that dictate how Frasers Property should respond to potential disruptions. These goals:

1. Align with the organisation's mission, vision, and values.
2. Provide a benchmark for evaluating BCM effectiveness.
3. Facilitate stakeholder buy-in by clearly defining priorities and objectives.
4. Support compliance with ISO 22301 requirements, ensuring a structured approach to business continuity.

BCM efforts may lack focus without well-defined goals, resulting in fragmented or inadequate responses during a crisis.

Steps to Define Organisational Goals for BCM

Developing meaningful BCM goals requires a thorough understanding of the organisation’s unique needs and operating environment.

The following steps outline a structured approach:

Identify Critical Operations and Objectives

Assess Frasers Property's core functions, key assets, and dependencies. This involves understanding the properties under management, tenants' needs, and critical business processes. Goals should focus on protecting these elements during disruptions.

Engage Stakeholders

Involve internal and external stakeholders, including senior management, property managers, tenants, and suppliers. Collaboration ensures that the goals reflect diverse perspectives and address critical concerns.

Analyse the Operating Environment

Consider the regulatory, social, economic, and environmental factors that impact business continuity. For example, as a property management company, Frasers Property must account for potential disruptions, such as natural disasters, cybersecurity breaches, and supply chain challenges.

Align with Strategic Objectives

BCM goals should directly support the organisation’s strategic objectives, such as delivering consistent tenant satisfaction, maintaining asset value, and complying with regulatory standards.

Prioritise Measurable Outcomes

Define goals that are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). For instance:

• "Ensure recovery of tenant-critical services within 24 hours of disruption."
• "Achieve 100% compliance with ISO 22301 requirements by the end of FY2025."

Examples of BCM Goals for Frasers Property

To address the unique operational challenges of Frasers Property, the following BCM goals could be established:

Protect Life and Property

Ensure the safety of tenants, staff, and visitors across all properties in the event of an emergency.

Minimise Operational Downtime

Implement measures to restore property operations and tenant services swiftly and effectively.

Enhance Stakeholder Confidence

Build trust by demonstrating a commitment to resilience and proactive risk management.

Ensure Regulatory Compliance

Meet ISO 22301 standards and local regulatory requirements for business continuity.

Support Sustainable Practices

Integrate BCM strategies that align with environmental and sustainability goals, ensuring long-term viability.

Reviewing and Updating BCM Goals

Once established, BCM goals should not remain static; they should be continually updated. Regular reviews ensure they stay relevant to Frasers Property's evolving business landscape and the external environment.

Triggers for goal revisions may include:

• Changes in the regulatory framework.
• Emerging risks, such as new technologies or geopolitical tensions.
• Feedback from business continuity exercises and actual incidents.

Summing Up …

Establishing clear organisational goals is foundational in building an effective BCM program for Frasers Property.

By aligning these goals with ISO 22301 requirements and the company’s strategic vision, Frasers Property can enhance its resilience, safeguard stakeholders, and maintain operational excellence in uncertainty.

As BCM continues to evolve, these goals will serve as the compass, guiding the organisation toward continuity and success.

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