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Executive Journal > Corporate Governance > Risk Management > Business Continuity / Disaster Recovery (BC/DR)

Business Continuity Disaster Recovery (BC/DR)
Project Management Best Practices

Executive White Paper
By Mr.
Med Jones,
International Institute of Management

Management Best Practices Paper

Business Continuity / Disaster Recovery (BC/DR)

    Corporate governance and the protection of your business assets

Introduction

According to the American Management Association, “About 50% of businesses that suffer from a major disaster without a disaster recovery plan in place never reopen for business.” Corporate governance regulation including Sarbanes-Oxley Act has increased a corporate officer’s liability for business continuity.  To help meet these business needs, more executives are turning to Business Continuity / Disaster Recovery (BC/DR) services that help them protect their business in the event of a disaster. 

An expert consultant should be able to provide a comprehensive BC/DR program to effectively and efficiently meet corporate governance requirement minimizing BC/DR projects spending. To realize a successful implementation of BC/DR program, companies must work in partnership with their employees, vendors, partners and government to ensure the continuity of critical business functions in the event of a disaster and help them recover following a disaster. 

BC/DR Management Best Practices

  • Sponsor and launch BC/DR project management initiative to guarantee alignment, integration and quality results of your BC/DR activities with business goals
  • Identify qualify and quantify your critical business assets (infrastructure and services)
  • Perform risk assessment and business impact analysis (Identify vulnerabilities, rate of impact, probability and quantify business risks)
  • Perform a budget analysis of risk mitigation options and draft risk mitigation strategy (acceptance, reduction, transfer, or avoidance)
  • Formulate Recovery Plans to establish recovery time /recovery point objectives and to guide each business unit through successful recovery following a major disaster.
  • Incorporate industry best practices approach (ITIL, ITSM, COSO and COBIT) into your business, technology and processes
  • Comply with industry and government regulations
  • Draft and test BC/DR plan and contracts
  • Train your organization to use it
  • Monitory and audit to ensure their effectiveness and regulatory compliance

Key Success Factors (KSF)

 A successful program must be 4 dimensional:

  • People                (Organization, Roles, Skill-sets, Training)
  • Process              (Business Operations; Engineering, Production, HR, IT, etc.)
  • Technology          (Infrastructure, Applications, Tools)
  • Financial             (Budget, TCO, ROI, Risk Management )

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About the Author

Med Jones is the President of International Institute of Management, a management best practices education and consulting organization. The Institute has 55 universities and research partners in 40 countries. For more information about the Institute, please visit https://www.iim.education 

What are White Papers?

White papers provide businesses and government leaders with a list of questions, terminology and discussion points that can be used to address emerging challenges and opportunities. Unlike academic research papers, white papers are succinct work documents designed for problem solving and communication by the leadership team. Depending on the scope of the paper, the document structure may include three to five sections: 1). A statement of the problem or opportunity 2). Analysis of root causes and underlying forces 3). Proposed solutions and 4). A checklist of best practices for solution implementation and change management 5). Notes and resources.

Copyright License

Royalty-free license is granted for using or publishing for educational (non commercial) purposes provided that the user/publisher include a clear reference to the author(s) and International Institute of Management https://www.iim.education   (Please include the active hyperlink for electronic publishing). Licensing is required for consulting and commercial publishing.

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Corrections and Updates

If we made an error in our papers or missed a reference to a major and direct contribution to the subject matter by earlier authors, please feel free to contact us with correction information and supporting evidence. Updates enrich our papers and ensure the integrity and accuracy of the shared knowledge. The updates and their dates will be listed in this section.

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