Business Continuity
John Sharp, Chief Executive Officer, The Business Continuity Institute
To enhance a company's survival, the concept of Business Continuity should be seen as extension of the Fire Risk Assessment process.
Research by the Institute of Management indicates that after a loss of IT, fire is managers greatest fear. The impact of fire is not just on property and facilities, but the ability of an organisation to maintain its service to customers which may be seriously impeded whilst efforts are made to restore the fire-damaged facilities. Insurance can replace physical assets in time but it cannot cover for the loss of an organisation's reputation and the trauma to employees that result from a major fire. But careful planning beforehand can minimise the effects of the fire on customers, suppliers and employees. The planning process is called Business Continuity Management (BCM) and evidence shows that organisations with an effective BCM plan have the best chance of survival, improving business confidence and shareholder value.
The insurance industry, keen to encourage BCM, has worked together in order to address this lack of understanding. The result is the Business Guide to Continuity Management, which consists of three separate, but related, documents.
1 Business Continuity Management: A Strategy for Business Survival: This has been developed with senior management in mind, in a bid to elevate responsibility for business continuity to a strategic level. Whilst more enlightened organisations have already taken this approach, there are still too many that regard business continuity as the responsibility of specialists in risk and IT. To this end, Business Continuity Management: A Strategy for Business Survival builds a business case for the process and provides direction to the next stage in the process.
2 The Business Guide to Continuity Management: The guide provides an initial point of reference for any organisation looking to implement a business continuity culture. It uses the Business Continuity Institute's (BCI) ten units of competence as a basis for the advice and action points. To ensure it is useable as well as useful, the guideline has brevity on its side, backed up with appendices and reference to other sources of information, seeking to harmonise available expertise and best practice for Business Continuity Management.
3 Evaluation Criteria for Business Continuity Plans: The Evaluation Criteria for Business Continuity Plans provides a benchmark for organisations to assess their level of BCM, based upon the BCI's ten units of competence. Many insurance brokers use this audit tool to assess an organisation's ability to minimise business interruptions. Business Guide to Continuity Management is a web-driven initiative accessible via the BCI website (see below). Business Continuity Management: A Strategy for Business Survival, can be obtained from the BCI by calling John Sharp, Chief Executive Officer. Tel: 0870 603 8783 or by e-mail to TheBCI@btinternet.com. Visit http://www.thebci.org/ for leaflets and additional information.
