5 Must-have components for every Business Continuity Plan in a Coronavirus World

Businesses have had a rough start to the beginning of the new year, 2020, and new decade. From COVID-19 to Puerto Rican earthquakes, from volcanic eruptions in Alaska to powerful tornadoes of Tennessee, enterprises have faced several challenges. During such unanticipated situations, organizations need a contingency plan to continue their business operations. Moreover, a dedicated team of security professionals is needed to build a robust business continuity and disaster recovery (BC/DR) plan. It would be the team’s responsibility to keep the business afloat during the tough times, i.e., unexpected events, including coronavirus. 

The Key Elements of a Business Continuity Plan in a COVID-19 Coronavirus World   

Disaster recovery professionals should be able to predict potential interruptions. Check out this detailed coverage by Tim Foley, Director of Information Security for the CYBER division at Dataprise. In the video, he comprehensively covers whether the organizations are ready to combat cyber threats:

Here’s a list that you can refer to while drafting a business continuity (BC) plan –   

1. Risk Assessment – Conduct BIA (Business Impact Analysis)  

The Business Impact Analysis (BIA) anticipates the possible repercussion of disrupts on regular business operations. It analyzes and gathers details to draft a recovery strategy. In other words, BIA is an assessment of potential loss during a disaster. Using BIA, staff identify mission-critical activities and suggest an optimal recovery time.   

2. Risk Mitigation   

Mitigating cyber risks is a must. Eliminate the loopholes risking the safety of company assets and business operations. The professionals should draft a comprehensive module dealing with the minimization of the risks. To serve the purpose, the team can incorporate the following in the plan –   

◉ Either cut or drop points of dependency   

◉ Check third-party readiness    

◉ Detailed IT backup strategies    

◉ Maintain stock of critical equipment or tools to repair 

◉ Split functions and resources at multiple sites    

◉ Keep substitutes handy    

◉ Build preventive maintenance and testing programs    

◉ Cross-functional training for the team   

3. Be Ready with Business Continuity Strategies  

It is a must that organizations should have the listed strategies in place –   

◉ Alternate practices to continue daily operations    

◉ Outsourcing or third-party service providers    

◉ Secondary or backup suppliers    

◉ Prioritizing business operations and demand of customers    

◉ Work from home strategies    

◉ Availability of mobile offices   

4. Establish Clear Roles and Responsibilities  

Depending on the size of the organization, build a planning team that is clear about their roles and responsibilities. If it is a small-scale enterprise, then involving all the employees would be a great idea.   

5. Implementation and Testing  

The involved professionals should undergo regular training sessions and simulation exercises. Based on the outcomes of these “fire drills,” organizations adopt the required changes. After this, enterprises are free to put the drafted business continuity plan in place.  

In conclusion, the team should consider the listed elements for prioritizing key business processes. A detailed program can spot potential cyber threats and include mitigation strategies. For this, businesses need a disaster recovery professional with skills in business continuity.

Source: eccouncil.org