[BCM] [FP] [E2] [C1] BCM Planning Methodology for Frasers Property

Chapter 1

For Frasers Property

In an era of rapid change and unpredictable disruptions, Business Continuity Management (BCM) is a cornerstone of resilience for organisations like Frasers Property.

Effective BCM planning ensures critical business functions and operations remain functional during disruption, safeguarding stakeholders, assets, and reputations.

This chapter outlines the comprehensive seven-phase BCM planning methodology for Frasers Property to fortify its operational resilience.

Project Management (PM)

The foundation of successful BCM planning begins with robust project management. This phase focuses on:

• Establishing Governance: Forming a BCM steering committee to oversee the initiative.
• Defining Objectives: Clearly articulating the goals, scope, and deliverables of the BCM program.
• Allocating Resources: Assigning responsibilities, timelines, and budgets to ensure seamless execution.
• Stakeholder Engagement: Securing buy-in from key stakeholders to foster collaboration and accountability.

For Frasers Property, project management ensures alignment between the BCM plan and the organisation’s strategic objectives.

Risk Analysis and Review (RAR)

Risk analysis identifies potential threats that could disrupt Frasers Property’s operations. This phase involves:

• Threat Identification: Recognising risks such as natural disasters, cybersecurity threats, and supply chain disruptions.
• Vulnerability Assessment: Evaluating existing controls and identifying gaps.
• Risk Prioritisation: Categorising risks based on their likelihood and potential impact.

The insights derived from this phase lay the groundwork for targeted mitigation strategies.

Business Impact Analysis (BIA)

The BIA assesses the impact of disruptions on critical business functions (CBF). Key activities include:

• Identifying Critical Business Functions: Determining processes essential for Frasers Property’s operations.
• Assessing Dependencies: Mapping dependencies on suppliers, systems, and personnel.
• Quantifying Impact: Measuring downtime's financial, operational, and reputational consequences.
• Defining Recovery Objectives: Establishing Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs).

The BIA enables informed decision-making for continuity strategies.

Business Continuity Strategy (BCS)

With a clear understanding of risks and impacts, this phase develops strategies to maintain or quickly restore operations. These strategies include:

• Alternate Site Arrangements: Ensuring facilities are available for relocation in the event of necessity.
• Redundant Systems: Implementing backup systems to maintain critical IT functions.
• Resource Allocation: Pre-identifying resources required during disruptions.

Tailored continuity strategies reflect Frasers Property’s unique operational needs and risk profile.

Plan Development (PD)

• BCM Plan Documentation: Creating detailed procedures for response, recovery, and restoration procedures
• Roles and Responsibilities: Clearly defining roles for BCM teams, leadership, and support staff.
• Communication Protocols: Establishing channels for timely internal and external communication.

Comprehensive planning ensures consistency and efficiency during times of crisis.

Testing and Exercising (TE)

Testing validates the effectiveness of the BCM plan and identifies areas for improvement. Activities include:

• Tabletop Exercises: Simulating scenarios to evaluate decision-making processes.
• Functional Testing: Assessing specific components such as IT recovery.
• Full-Scale Drills: Conducting end-to-end exercises to test overall readiness.

Regular testing ensures that Frasers Property’s BCM plan remains relevant and actionable.

Program Management (PgM)

BCM is an ongoing process requiring continuous management and improvement. This phase involves:

• Monitoring and Reviewing: Regularly updating plans to address evolving risks and organisational changes.
• Training and Awareness: Ensuring all employees understand their roles in the BCM program.
• Compliance and Auditing: Aligning the program with industry standards and regulatory requirements.

Effective program management sustains the resilience of Frasers Property in the face of emerging challenges.

Summing Up …

The seven-phase BCM planning methodology provides a structured approach to safeguarding Frasers Property’s operations and reputation.

This methodology enables Frasers Property to navigate uncertainties with confidence by integrating robust project management, thorough analysis, and continuous improvement.

Adopting and maintaining this methodology is a strategic decision and a commitment to resilience and excellence.