Business Continuity Planning:
All companies are exposed to a range of natural and man-made disasters. Experience has proven that companies which are unprepared for a disaster are least likely to survive one, regardless of the company’s fiscal condition or insurance coverage. Identifying business interruption risk, quantifying the potential impact to your company, developing mitigation strategies, and preplanning for a disaster are the keys to survival. These tasks are generally referred to as Business Impact Analysis (BIA) and Business Continuity Planning (BCP).
In an age of lean manufacturing, outsourcing, and financial uncertainty, risk managers are faced with the daunting task of keeping abreast of their company’s Interdependent/Contingent Business Interruption Risk (IBI/CBI). But the need is greater than ever when you consider the following factors:
- Regulations and standards such as ISO 22301, ISO 31000, NFPA 1600, and Sarbanes – Oxley hold officers accountable
- Greater sensitivity to interruption of revenue stream from natural and man-made disasters
- Increase in disasters (man-made and natural) with an extensive history of failures
- Increased insurer focus on BCP/supply chain loss potential
The Six Phases of BCP:
- Define the scope and commit resources.
- Conduct Business Impact Analysis (BIA).
- Gather existing plans and combine with insights for the basic strategy outline.
- Detailed strategy and BCP development.
- Conduct BCP testing and revise as necessary.
- Plan implementation and maintenance.
Why choose GRC as your BCP development partner? GRC experts will use our knowledge of your company, industry, equipment, production bottlenecks, and exposures as the key components of the BCP process. We offer our clients:
- Manufacturing Expertise - Many BCP consultants only focus on finance and information technology while leaving production and supply chain vulnerable. We know industry and processes, and we leverage that knowledge for your benefit
- Customer Insight - Client site visits provide unique operational understanding
- Risk Management Experience - Business Interruption, Interdependency, Contingent BI. We live these enterprise risk management issues every day
- Independence - You own the information, not a third party or insurer
- You know and trust GRC for property loss control services; now let us help you with your Business Continuity needs.