The Importance of Embedding Business Continuity: An Overview of BCI Professional Practice 2

BCI_GPGs_SeriesThis article reviews GPG Professional Practice 2 (PP2): Embedding Business Continuity and explains why embedding business continuity into your organization is important for driving success, describes best practices for embedding business continuity into day-to-day activities, and provides a brief case study highlighting the benefits of this practice.

PP2 OVERVIEW

PP2 outlines a number of techniques on how to embed business continuity into the organization. Specifically, the BCI separates PP2 into the following topics: Continue reading

Treating the Causes of Bad Exercises

Faults & Fixes SeriesFaults and Fixes: Bad Exercises

Practice—it’s a key to success in any pursuit. Whether it’s within sports, hobbies, or business, practice is integral to fostering success, and business continuity planning is no exception. Arguably, the most effective way to practice implementing business continuity plans, processes, and strategies is by performing exercises. Not only will a good exercise improve preparedness, it will also socialize business continuity planning among the organization’s key leaders and demonstrate the value of business continuity planning. However, many exercises fail to “impress” and meet the goals of socializing capabilities, building competencies, and identifying opportunities for improvement. Within this perspective, we’ll take a look at some of the key causes and simple fixes that will allow business continuity practitioners to plan for and facilitate an engaging, beneficial business continuity exercise. Continue reading

Challenges in Implementing a Successful Business Continuity Program

Congratulations! You’ve started your business continuity planning effort—sometimes, that’s the hardest part. Now, you’re working diligently on your organization’s business continuity program, but it’s not delivering the results you had hoped. You’re performing a business impact analysis (BIA) and risk assessment, documenting plans, and socializing the next steps for your program, but it’s not progressing like you would expect or maybe it doesn’t have the capability your organization needs. So, what can you do?

This perspective outlines the common challenges organizations face when implementing a business continuity program that meets response and recovery expectations, and offers solutions that business continuity managers can pursue to address these challenges. Continue reading

Why Plan? A Closer Look at Business Continuity

Business continuity is an often talked about risk management practice, especially with what appears to be an ever increasing number of serious disasters, including Superstorm Sandy, the California wildfires, and the Japanese Tsunami – and that’s only natural disasters! Disruptive incidents can stem from major events such as these, but they can also originate from events that are far less visible and widespread, including sprinkler malfunctions, power outages, supply shortages, and an IT disruption.

This perspective discusses why organizations make the decision – or should make the decision – to invest in business continuity planning. Continue reading

Crisis Management Team Leadership Success: A Combination of Natural Abilities and Learned Skills

Your organization has spent considerable resources preparing for disruptive events, and now a crisis is looming. Plans are in place, detailing assigned roles and responsibilities that involve crisis leadership, as well as response and recovery procedural execution. But, will your Crisis Management Team Leader be effective? Will your response be successful? Often, one of the most significant key success factors is the choice of crisis leadership. Continue reading

Business Continuity: Now Required at Most Hedge Funds

hedge fund perspectiveBusiness Continuity planning is no longer just a best practice for hedge funds, as the Securities and Exchange Commission (SEC) now requires most hedge funds to maintain up to date business continuity programs. This article explains the new regulatory mandates and describes a recommended approach that hedge funds can employ to not only meet the spirit and intent of new SEC requirements, but also begin building toward business continuity readiness. Continue reading

BP: Ushering in a Risk Conscious World

Oil SpillIn the time following the Macondo (BP) well blowout, the world watched a true disaster unfold.  As the days turned into weeks, then weeks into months, and even after BP finally stopped the flow of oil into the gulf, disgust remains on the minds of many because of one simple fact: the disaster appears – by most accounts – to have been totally preventable. Continue reading