The ISO Show: Episode 42 – What is ISO 22301 Business Continuity Management?
What is Business Continuity Management and what are the benefits of ISO 22301?
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’.
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.
is Business Continuity Management?
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.
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.
the benefits of ISO 22301?
and recovery of business critical functions and processes
Identification and understanding of the most
valuable and critical business processes and the impact of disruption.
Timely and orderly responses to incidents and
business disruptions to continue business operations at an acceptable
pre-defined level as promises in contract or agreement
Demonstrate credible responses through
Increase the survival chance of both the
organisation and employees jobs and other dependents.
Increased levels of resilience and recovery
capability, and the continued survival of the organisation
Improved risk profile when renewing your
insurance policy, resulting in reduced insurance premiums.
Significantly reduced financial impact of
incidents, disruption or even under disaster.
Provides evidence to support financial claims.
Advantage gained over less resilient competitors.
Reputation maintained, or even improved, through
demonstrating a professional approach to managing disruption.
Positive message communicated to the media and
stakeholders in crisis conditions.
leadership commitment to resilience
Demonstrate management commitment in overall
risk management with visible evidence to stakeholders.
Encourages clear communications on what
employees need to do to recover from an incident and supports cross-department
and cross-organisation coordination.
Compliance with the expectations of regulators,
insurers, business partners and other key stakeholders.
the options when it comes to improving business resilience during COVID-19 and
other business disruptors your company may face?
Buy a copy of ISO 22301:2019 and review your business against the requirements and develop a business continuity system accordingly.
Partner with a Business Continuity specialist such as Blackmores and work in collaboration with your partner to complete a Gap Analysis, Risk Assessment, Business Impact Analysis, Business Continuity Documentation and possibly a compliance audit.
Partner with a training provider to bring more knowledge on the subject in-house – this could be eLearning, BCP workshops or certification body auditor training.