Wednesday, January 25, 2017

Risk and Business Continuity

Jan 25, 2017 - Risk assessment and management are critical to the creation and success of business continuity plans. Through the years, there has been a lot of discussion about which should come first, which is more critical, whether they are integrated, etc. This issue focuses on risk and its role in the entire business continuity process.

When Risk Assessment and Business Impact Analysis are placed together, these two processes combined can easily tell how hard a potential disruption can impact a business, as well as how quickly and how damaging it can be. (Item #1) Here is an overview of four key criteria that are essential for effective risk management. (Item #2) The board should start by reviewing the process that is being used to identify risks... not just a legal/compliance risk assessment but one tied to other matters, such as business continuity planning, crisis response plans, and even basic fraud. (Item #3)

Risk assessment and business impact analysis are key stages in disaster recovery planning, but where do they fit into the DR planning process? (Item #4) Being ready for risk is the key to any successful BCM plan; while many disruptions are unplanned, you can still weigh the risks and probability of events. (Item #5) Involvement in risk assessment and BCM fits very much with the strategic role of HR. (Item #6)

For the full issue, click here.

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