Your organization can now achieve its resiliency goals by regularly updating business continuity management plans to incorporate new constraints and challenges. Stay in Business lets you adapt the plan over a period of time and develop the capabilities needed to tackle and respond to disruptive hazards – prime focus area of your business continuity management solution.
Stay in Business ably supports BCM executives through this ongoing undertaking and facilitates a high level of collaboration between different and often disparate commercial and technical entities within the organization that need to collectively work towards common objectives.
Updating the BCM Plan to Incorporate New Challenges and Constraints
Stay in Business lets you maintain the BCM module’s relevance on a long term basis regardless of the approach or methodology that you have adopted. The software can keep track of your organization’s changing staffing requirements as the operational dimensions of your business evolve over time.
The SIB platform is ideally suited for smaller companies where a single employee takes responsibility for supervising the entire business continuity management module.
But even in the case of larger organizations, where the expansive scale of operations necessitates many employees who are grouped into teams that deal with specific focus areas, the SIB platform can streamline business continuity operations in line with the company’s hierarchical structure and optimize a greater level of effectiveness and efficiency.
Procedural Framework
The upper management can use the SIB platform to:
- Delegate the supervision of the BCM module to a suitable executive with the relevant abilities
- Define the extent to which the BCM module can be improved upon
- Assess the budgetary requirements for upgrading existing systems and processes
- Establish metrics for evaluating management performance
- Analyze the impact of gaps in management performance on the effectiveness of the business continuity plan
You can now stay in business by broadly outlining the roles and responsibilities of the BCM executive or team, such as:
- Designing and approving a process for managing the business continuity plan
- Breaking down the management process into segments that address specific stages of the BCM lifecycle
- Establishing communication strategies that facilitate reciprocity between different interlinked teams and departments
- Streamlining the execution of the business continuity management module, both internally and externally
- Identifying ways to cut down on costs and manage the available budget in a manner that optimizes expenditure
- Archiving all the tasks and activities that have been executed through an extensive documentation plan
- Gathering intelligence on the response capabilities of other companies in the industry as of the current date along with business continuity requirements mandated by regulatory norms and compliance
- Keeping the leadership teams updated on the organization’s response capabilities as of the current date and the identified gaps when compared with those of other companies in the industry along with their monetary implications
Your organization can take advantage of the various features and functionalities of the application to outline a strategy for training and knowledge sharing so that the contextual relevance of skills and expertise levels of personnel are constantly maintained. You can include focus areas, such as:
- Establishing contact with teams and departments and coordinating all their business continuity related activities
- Identifying the impact of implementing a change in business continuity systems and processes on mainstream operations
- Establishing a protocol for process changes and improvisations
- Rehearsing plans periodically to identify gaps in execution
- Developing the capabilities to effectuate a full-fledged enterprise wide response when a crisis occurs
Execution Strategy
The software lets you adopt a variety of managerial approaches to effectuate business continuity maintenance. Options include:
- Contracting external vendors specializing in business continuity management
- Designing a self evaluation framework
- Establishing quality and production metrics that are communicated to all parties concerned
- Mitigating the risks involved in processes that are beyond the organization’s purview through an effective vendor management module
- Managing contractual obligations and service level agreements through periodic updates and amendments
- Maintaining cordial relationships with third party business associates
- Optimizing the efficient use of financial resources in a bid to mobilize more funds for business continuity activities
- Obtaining guidance and counseling on legal matters
- Elaborating a comprehensive comparative study of the organization’s business continuity capabilities based on industry standards and competitor strategies
- Adhering strictly to industry established regulatory norms and compliance requirements
- Hiring external bodies to audit the management of the organization’s business continuity capabilities
- Developing the wherewithal to conduct internal audits
- Establishing communication channels with customers, investors, stakeholders and interested groups whose review comments and feedback can be incorporated into the system during future iterations
Takeaways and Evaluation
Your organization can now create a framework to constantly upgrade its business continuity management capabilities.
You can include parameters for evaluation, such as:
- Efficiency of a process driven maintenance strategy that has been approved by the organization’s deciding authorities
- Frequency and effectiveness with which the organization revisits the purpose, goals and objectives of the business continuity management module in order to incorporate changes in its resiliency targets
- Alignment of protocols for managing the business continuity plan with the organization’s resiliency targets and industry standards
- Incorporation of the business continuity management component into the consolidated plan’s operational framework
- Strategic direction for business continuity
- Initiatives for generating more capital that can be directed towards business continuity management
- Effectiveness of documentation procedures, especially for knowledge transfer and training purposes during attrition and on-boarding of new staff
- Mechanism for triggering alerts, warnings, notifications, escalations and invocations in response to business disruptions
You can effectively manage your organization’s business continuity plans to optimize efficiency across various tasks and activities and improve overall resiliency. You can review your business continuity plans as frequently as you want to, depending on the criticality of business operations and customer requirements.
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Disasters
