Business Continuity Management
Business Continuity Management
Business continuity management is an essential part of comprehensive risk management in entities and must be integrated with the entity’s basic operations and be based on the principles of transparency and continuous communication between all concerned parties
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Definition of business continuity
It is defined as the ability of entities to maintain essential functions and processes during and after an incident, such as natural disasters, cyberattacks, systems failures, and other problems, so that the goal is to keep the organization running as smoothly as possible even in the most difficult circumstances by minimizing the impact of the incident on the organization’s employees, processes and technologies.
Therefore, business continuity is important for entities and organizations, whether they are small or large.
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How is the business continuity planning process done?
The planning process usually includes several steps, which are summarized in:
- Business Impact Analysis (BIA): By identifying important processes, systems and data, and determining their impact on the entity if they are disrupted.
- Risk Assessment: Identifying potential risks and threats that could affect the organization, such as natural disasters or cyberattacks.
- Risk Management: By developing strategies and procedures to mitigate or avoid potential risks.
- Develop a Business Continuity Plan (BCP): Develop a plan that identifies procedures and processes that help maintain essential business functions during and after disasters.
- Testing the Plan: Ensure that the business continuity plan is effective and that all members of the entity are aware of their roles and responsibilities.
- Plan Maintenance: Constantly reviewing and updating the plan to ensure it remains effective in the face of evolving risks and threats.
The goal of business continuity management
- Reducing the impact of unexpected incidents on business continuity and reducing potential business-related risks
- Providing continuity and sustainability for the business in case of unexpected incidents
- Improve confidence
- Achieving compatibility between business strategies and continuity plans
- Improving risk management in entities in general
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