What is Business Continuity Management and what are the benefits of ISO 22301?
Whist many businesses have adapted to remote working, in some industries such as manufacturing or construction they now looking at ways to try to return to some type of ‘business as usual’.
One standard that is completely focused on resuming operations to get back to ‘business as usual, is ISO 22301, the Business Continuity Standard. This standard is very much about minimising damage to a business and planning for business recovery as swiftly as possible.
So, what is Business Continuity Management?
Business Continuity Management involves the recovery or continuation of business activities in the event of any business disruption. COVID-19 is a prime example of a situation that is pretty much affecting all businesses globally.
By having a holistic Business Continuity Management System (BCMS) in place will not only help your organisation recover from disasters, it will also prevent the reputational damage that can arise from any operational outages, missed deadlines, upset customers, or direct financial loss.
ISO 22301 provides a comprehensive set of controls based on Business Continuity ‘Best practice’ from across the world.
The BCMS should also include Risk Assessment (RA) and Business Impact Analysis (BIA), which are an inherent part of ISO 22301 and an essential component to identifying prioritised activities, dependences and resources supporting their key products and services, as well as what the impact of their failure would be on the organisation.
What are the benefits of ISO 22301?
Protection and recovery of business critical functions and processes
Financial
Reputational
Demonstrates leadership commitment to resilience
What are the options when it comes to improving business resilience during COVID-19 and other business disruptors your company may face?
Further resources:
Further information on ISO 22301
Further information on ISO 22313
For a copy of our example BIA, simply contact us: enquiries@blackmoresuk.com
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