[BCM] [OD] Business Continuity Strategy Phase for Business Continuity Management Planning Methodology

Business Continuity Strategy Phase for Business Continuity Management Planning Methodology

The Business Continuity Strategy Phase is the fourth step in BCM Institute's Business Continuity Management (BCM) Planning Methodology. This phase is pivotal in ensuring organisations respond effectively to disruptions and maintain essential functions. Here’s a comprehensive look at what this phase entails:

Objectives of the Business Continuity Strategy Phase

The primary objective of this phase is to develop and select strategies that enable an organisation to continue critical operations during and after a disruption. The strategy must align with the organisation's risk appetite, regulatory requirements, and overall business objectives. This phase focuses on identifying resource requirements, evaluating alternative strategies, and establishing a framework for maintaining essential services.

Key Activities

Risk Analysis and Review (RAR) and Business Impact Analysis (BIA) Review

Before formulating strategies, it's essential to revisit the findings from the previous phases, mainly the Risk Assessment (RA) and Business Impact Analysis (BIA). This review ensures the chosen strategies address the most critical risks and business functions identified earlier.

BC Strategy (BCS) Development

In this step, potential strategies are developed for each critical business function. The strategy may include a mix of approaches, such as:

• Resource Replacement: Identifying alternate resources or facilities to continue operations.
• Workaround Procedures: Developing manual or alternative processes when technology is unavailable.
• Redundancy: Ensuring duplicate systems or processes are in place to minimise downtime.

Evaluation of Strategies

Each proposed strategy is evaluated for feasibility, cost, and effectiveness. This involves analysing the potential impact on operations, resource requirements, and the timeline for implementation. The goal is to ensure that the chosen strategies are practical and cost-effective.

Selection of Strategies

Based on the evaluation, the most suitable strategies are selected. The selection process should consider the organisation's priorities, the criticality of business functions, and the availability of resources. Stakeholder engagement is crucial to support selected strategies across the organisation.

Documentation of Strategy

Once selected, the strategies are documented in the Business Continuity Plan (BCP). This documentation should include:

• Detailed descriptions of each strategy.
• Roles and responsibilities for implementation.
• Resource requirements and availability.
• Activation triggers and procedures.

Types of Business Continuity Strategies

Preventive Strategies

• Regular maintenance and testing of equipment.
• Implementation of robust security measures.

Mitigative Strategies

• Data backups and offsite storage.
• Diversification of suppliers or logistics routes.

Recovery Strategies

• Establishing alternate work sites.
• Arranging for rapid procurement of essential resources.

Implementation Considerations

• Resource Allocation: Ensure adequate resources are allocated for the implementation of selected strategies.
• Training and Awareness: Conduct training sessions to familiarise staff with their roles in executing the strategies.
• Regular Testing and Updates: Strategies should be tested through drills and simulations and updated regularly based on feedback and changes in the business environment.

Summing Up...

The Business Continuity Strategy Phase is a critical component of the BCM planning methodology. It lays the groundwork for an organisation's ability to withstand disruptions and resume critical operations swiftly.

Organisations can enhance their resilience and ensure continuity in adversity by carefully developing, evaluating, and selecting strategies.

Business Continuity Management Planning Methodology

More Information About Business Continuity Management Courses

To learn more about the course and schedule, click the buttons below for the BCM-300 Business Continuity Management Implementer [B-3] course and the BCM-5000 Business Continuity Management Expert Implementer [B-5].

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