Business Continuity Planning FAQs
Is developing a Business Continuity plan worth the effort for my small business?
Yes – spending a little time planning for Business Interruption will help you develop a more Resilient and Valuable business as a result. The amount of time and budget you put behind developing your plan will normally depend on the size of your business, market sector and the risks you face. Please
Contact Us if you would like to set up a free of charge 1:1 consultation with one of our Business Continuity expert partners.
My business is insured, surely I can just make a claim if my business is interrupted?
Insurance is vital for all businesses but it is only an indemnity against Loss which is good but not the complete solution. To use a driving analogy we have insurance in case we crash, but avoiding the crash in the first place is even better! Business Continuity is no different as it is all about planning ahead and minimising the impact on a business caused by Interruption, prevention is generally far better than cure.
I am new to Business Continuity Planning, how much time will it take to get a plan in place?
This depends on so many factors such as Company Size, Organisational Complexity, Location and most importantly how comprehensive the plan is or needs to be. I always start with the view that doing something is better than nothing and it can always be developed and improved over time. Start with the simple things and build the plan step by step.
How do you set priorities and timings for Recovery?
Typically the most economically important business process will be recovered first, right the way through to the least important. The trick is to find an affordable continuity solution that achieves an acceptable risk profile for management, customers and regulators, this will be unique to each organisation. Allocation of budget is ultimately a management decision. From a planning perspective it is important to present the Impact of disruption and the Risk of disruption alongside the costs of mitigation and recovery.
What causes of Business Interruption should we consider and plan for?
There are literally hundreds of potential causes of Business Interruption, so it is probably best to start with the loss of the following: People, Property, Data, Product & Reputation. Within each of these categories you can identify your own sub categories based on the unique structure of your organisation. Start by brainstorming potential causes of Business Interruption for your business and then rank them from Most to Least likely.
How often should we update our Business Continuity plan?
Business Continuity plans should be updated as regularly as needed to remain current. Changes will be driven by changes to Staff, Processes, Technology, Suppliers, Law/Regulation, Risk Profile and most importantly as a result of learnings from Testing / Implementation of the Plan due to an actual disruption.
Do most businesses engage a consultant to write their Business Continuity plan?
This depends on the size of the organisation, complexity, available budget and a whole host of other factors. It is often a good idea to start building your own plan and see how you get on. If you need expert help with writing your Business Continuity Plan we can introduce you to a local consultant for a free 1:1 conversation.
Large customers are asking if we have ISO 22301 Certification, what is ISO 22301?
ISO 22301 is an international management systems standard for Business Continuity Management (BCM) which can be applied to organisations of all sizes and types. Organisations that achieve ISO 22301 accreditation are able to demonstrate to shareholders, customers, regulators, partners and insurers that they adhere to good practice in BCM. If you are considering ISO 22301 certification please let us know and we will introduce you to our ISO experts.
