Business Continuity Management
Business Continuity Management (BCM) is the entirety of organization arrangements including policies, standards, and management procedures for ensuring that specified operations can be maintained or recovered in a timely fashion in the event of a Business Disruption. The purpose of continuity management is too minimise the operational, financial, legal, reputational and other material consequences arising from a disruption.
BCM is a holistic management process that identifies potential threats to an organization and the impacts to business operations those threats, if realized, might cause, and which provides a framework for building organizational resilience with the capability of an effective response that safeguards the interests of its key stakeholders, reputation, brand and value-creating activities.
The BCM Components
Effective business continuity management typically incorporates the following elements:
- Well articulated Business Continuity Roles and Responsibilities as part of the overall Corporate Governance framework of the organization
- Suitable Business impact analyses as a prelude to formulating the Business Continuity Plan
- A formal, agreed, documented, implemented, tested and regularly reviewed and audited Business Continuity Plan
- Appropriate Recovery strategies
- Testing programmes
- Internal and External Communications
- Organizational Training and awareness programmes
Issues and Challenges
Conceptually, business continuity management is distinct from Financial Crisis management in that a financial crisis does not typically entail business continuity concerns. An event that gives rise to business continuity concerns, however, could develop into a financial crisis.
- Business Continuity Guidelines, an overall organization of various approaches to Business Continuity
- Business Continuity Glossary, a compilation of terms grouped by Business Continuity topics
- Business Continuity Resources, collection of (external) resources around Business Continuity and Crisis Management
- BCBS, High-level principles for business continuity, August 2006