Having a robust Business Continuity Plan (BCP) that addresses the moving parts and key players to keep a business thriving is essential for success, especially in these uncertain times. If an organization does not have a BCP strategy in place or if the existing plan needs to be revisited, consider the different stages in developing or improving one.
First and foremost, obtain executive sponsorship. An important initiative such as Business Continuity needs approval from the top and dedicated resources to make it successful. From there, identify your Business Continuity champion(s) to facilitate and enact the remaining stages in developing the BCP.
To build the foundation for a thorough, effective Business Continuity program, perform a Business Impact Analysis, which identifies the critical business processes that must be continued through a disaster, pandemic or other impactful event.
Once the BCP and its accompanying plan documentation are finalized, train the involved parties on what is expected and be sure to update the plan regularly to reflect the organization’s evolving risks, requirements and recovery strategies.
Stinnett has performed Business Continuity and Disaster Recovery advisory services for over a decade, helping organizations of all shapes and sizes develop robust, clear plans for Business Continuity and IT systems Disaster Recovery. Our Certified Business Continuity Professionals Marci McCloskey and Toan Nguyen are at the forefront in spearheading Stinnett’s own COVID-19 pandemic response to ensure the continuity of client service and the safety of firm team members.
If you’d like to discuss a custom approach that addresses your businesses’ specific risks around unforeseen interruptions, we invite you to contact us for a consultation.
Stinnett & Associates is not a CPA firm.