What is a Business Continuity Plan? - Travel Global

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Friday, 24 July 2020

What is a Business Continuity Plan?

Business Continuity Plan


A Business continuity plan (BCP) in short, is a plan to ensure that business processes can maintain during a time of difficulty or failure. Such problems or failures include a fire or any other case where the business is not able to happen under normal circumstances. Companies need to see at all such possible threats and devise a Business continuity plan to secure continued processes should the risk become a fact.
Business continuity plan template

A business continuity plan includes;

Analysis of organizational threats
Primary jobs needed to keep the business processes running
Quickly located the management communication
Specification for a person to go if a disastrous event occurs
Report on data backups and organization site backup
Collaboration among all aspects of the organization

Business Continuity Plan checklist

Business operations
Prepare a list of the company’s locations and the activities, people, and assets inside each of these places.
Evaluate which dependencies support your operational processes.
Analyze any rules and regulations directing your company operations.
Regulate the minimum level at which your company can work, and then know which departments and methods need to be replaced first after an interference.
Assess the minimum supplies needed to run your essential processes
Set recovery time objectives (RTOs).
Build a list of any natural and everyday emergencies that could harm your business.
Group them as high, medium, or low. Create comprehensive plans for events.
As event possibility decreases, plans can become more customary, but you should plan for each potential effect.
Verify insurance coverage.
Save an off-site copy of the business continuity plan in a safe, disaster-free place.
Explain your plans with merchants, suppliers, workers, associates.
Cost analysis
Quantify the possible values of downtime (total business failure).
Evaluate the cost of downtime per hour for each section.
Consider the cost of downtime versus the cost of specific recovery solutions.
Staff
You must arrange cash on support for emergency payment.
Select a list of employee phone numbers for emergency contact.
Assign recovery team members and emergency contact for each department.
Formulate and give an evacuation plan. Demonstrate safety handouts and emergency safety plans.

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