Most disasters happen without warning, and when they do, there is no time for planning and organizing, only scrambling to recover. Organizations must be prepared for disasters by developing an effective plan for an expedient and successful recovery.
The Executive Management's support of the BCM planning process is crucial in ensuring that the organization's operations continue despite a disaster.
Why BCP is Important?
Although the need to have a BCP is often mooted by the Executive Management, the Organization BCM Coordinator must still communicate this need to the entire organization because BCP should be viewed as a significant corporate issue.
The BC plan is a crucial guide to ensure that important issues are not overlooked during a disaster. The entire organization should be involved during the Project Management phase as a properly designed BC plan will guide even inexperienced employees to help the organization recover.
BC plans are required by law in some industries, but a comprehensive, regularly tested plan can help any organization protect itself from litigation for negligence. The very existence of a plan could be a defense that the organization had not neglected its Executive Management's responsibility of preparing for disaster.
Benefits of Having a BC Plan
The major benefits from developing a comprehensive BC plan can be summarized as:
- Minimized potential economic loss
- Reduced legal liability
- Reduced disruption to normal operations
- Maximized organizational stability
- Ensured orderly recovery
- Minimized insurance premiums
- Reduced reliance on key personnel
- Increased asset protection
- Ensured safety of personnel and customers
- Compliance with legal and regulatory requirements
- Minimized decision making during a disaster
BCM Project Management Steps
Click to find out more about the detailed requirement for each steps
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Reference
Goh, M. H. (2021). Managing Your Business Continuity Planning Project. Business Continuity Management Planning Series (3rd ed.). Singapore: GMH Pte Ltd.
Extracted from "Chapter 5: Step 1: Establish the Need for BC PLanning"
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