Step 9: Establish a Budget

Step 9: Establish a Budget

People tend not to take something seriously, especially DR Planning unless it has a budget associated with it. The Organization DR Coordinator is required to build a budget and get it approved early in the process.

There is no rule of thumb for the cost of developing and implementing a DR Plan. I would recommend that the budget estimate that you present to the Executive Management should be built on careful definition and solid research.

Arriving at that number requires the team to define resources and financial requirements, verify the validity of each, and negotiate each with the Executive Management. In Europe and North America, one factor operating in Favour of implementing a DR Planning program is that insurance companies now provide discounts for organizations that maintain effective BCP and DR Planning programs.

They eventually may mandate the testing of DR procedures before they issue loss of business insurance due to a business or computer outage. Plug into your budget and estimate the savings or potential savings in insurance.

If the corporate insurance is not applicable in your country, when you are determining the budget for a DR Plan, you should take into account the resources needed to write the DR Plan, test the plan, heighten the Executive Management's awareness of the critical business function or application systems already in place and assess the backup capabilities required to recover within the allotted time.

IT DR Project Management Steps Click to find out more about the detailed requirement for each step
1	2	3	4	5	6
7	8	9	10	11	12

 

Reference

Goh, M. H. (2016). A Manager's Guide to Implementing Your IT Disaster Recovery Plan. Business Continuity Management Specialist Series (2nd ed.). Singapore: GMH Pte Ltd.

Extracted from "Chapter 12: Plan Development"

 

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