Risk and Business Continuity
January 25, 2017 - Risk assessment and management are critical to the creation and success of business continuity plans. Through the years, there has been a lot of discussion about which should come first, which is more critical, whether they are integrated, etc. This week's articles focus on risk and its role in the entire business continuity process.
The Risk Assessment and Business Impact Analysis are fundamental components in ensuring the development of an effective BCM framework in an organization. However, there has been much confusion about the difference between the two phases, and that should come first have been a long debated topic. To be able to determine the exemplary process, we must first understand the objectives and expected deliverables of each phase.
Lately everyone, from government agencies to regulators to corporate board members, seems to be talking about the need for better, more effective, risk management. The challenging part is that the concept of risk management effectiveness still remains vague. This article attempts to summarize the main components of effective risk management which should help risk managers to respond to the challenges set by regulators and shareholders.
Effective compliance starts with the board of directors, who need to use their expertise to ask the right questions. The problem is that many board members do not know what questions to ask... In this article, Thomas Fox offers some suggested questions to kickstart the process.
Disaster recovery risk assessment and business impact analysis (BIA) are crucial steps in the development of a disaster recovery plan. But, before we look at them in detail, we need to locate disaster recovery risk assessment and business impact assessment in the overall planning process.
In creating business continuity plans, every organization completes a series of risk assessment exercises. Without this general risk assessment, it would be impossible to prioritize what BCM plans are needed. Each time a specific threat arises, business continuity teams need a risk assessment process to determine if the event merits activation of BCM teams and plans.
The purpose of this guide is to explain the methodologies behind risk management and where HR should make a contribution in planning and executing the resulting plans. Business recovery cannot occur without employees and HR plays a strategic role in promoting trustful and prepared leadership throughout the organization to help reassure employees of their safety.
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