The Business Continuity Plan is a holistic program, which identifies potential threats to business continuity and proposes a framework for their effective address aiming minimizing their negative effects on the Organization’s stakeholders, such as shareholders, customers, society and insurance companies.
The existence and continuous training in the Business Continuity Plan ensures that the operational structures can continue to operate effectively, in the event of an emergency or extensive disaster such as extreme weather events, fire, external threats, etc.
The development of an effective Business Continuity Plan, is based on the following methodology:
- Detection of business threats (Business Impact Analysis – BIA) where the following are being recorded:
- critical operational functions and facilities
- the potential risks of causing damage to critical operational functions and facilities and their assessment
- The existing control and risk reduction measures
- Corrective measures to reduce impact (methods of restoring the critical business processes within the desired timeframes – RTOs).
