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Would fines or penalties from breaches of legal responsibilities, agreements, or governmental regulations be an issue, and if so, what are the penalties?Estimates are required to determine the approximate cost of the loss of consumer and investor confidence, damage to reputation, loss of competitiveness, reduced market share, and violation of laws and regulations.
Even though buildings were destroyed and blocks of Manhattan were affected, businesses and institutions with good continuity plans survived.
The lessons learned include: Continuous Service Delivery Assurance (CSDA) is a commitment to continuous delivery of critical services that avoids immediate severe disruption to an organization.
Loss of image or reputation is especially important for public institutions as they are often perceived as having higher standards.
Since few organizations can afford to pay the full costs of a recovery; having insurance ensures that recovery is fully or partially financed.
Business Continuity Planning is a proactive planning process that ensures critical services or products are delivered during a disruption.
A Business Continuity Plan includes: Having a BCP enhances an organization's image with employees, shareholders and customers by demonstrating a proactive attitude.The BCP senior management committee is responsible for the oversight, initiation, planning, approval, testing and audit of the BCP.It also implements the BCP, coordinates activities, approves the BIA survey, oversees the creation of continuity plans and reviews the results of quality assurance activities.Additional benefits include improvement in overall organizational efficiency and identifying the relationship of assets and human and financial resources to critical services and deliverables.Every organization is at risk from potential disasters that include: A BCP contains a governance structure often in the form of a committee that will ensure senior management commitments and define senior management roles and responsibilities.Instead of focusing on resuming a business after critical operations have ceased, or recovering after a disaster, a business continuity plan endeavors to ensure that critical operations continue to be available.September 11, 2001 demonstrated that although high impact, low probability events could occur, recovery is possible.A BCP includes both risk evaluation, management and control and effective plans, measures and arrangements for business continuity.Continuous risk management lowers the risk of disruption and assesses the potential impacts of disruptions when they occur.Recognizing that some services or products must be continuously delivered without interruption, there has been a shift from Business Resumption Planning to Business Continuity Planning.A business continuity plan enables critical services or products to be continually delivered to clients.