Reason for BCP

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Southern New Hampshire University *

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313

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Information Systems

Date

Feb 20, 2024

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docx

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Uploaded by PrivateBraveryEmu1997

The Need for a Business Continuity Plan (BCP) The purpose of a Business Continuity Plan (BCP) is to ensure the company can continue to operate in the event of a natural disaster. In this report I will lay out the justification for having a BCP, along with the benefits and components of having a BCP. Rationale I understand that the company already has liability insurance, asset replacement insurance, and natural disaster insurance. These policies are a great addition to a BCP. They are great to have in place but are not sufficient to ensure that the company can resume operations following a disaster. By creating a BCP we can identify critical business functions, develop protocols to maintain or quickly restore them, and minimize the impact of disruptions on our employees, customers and stakeholders. As a result, we will be better prepared to deal with the effects of a natural disaster or critical event impacting the business. The benefits of having a BCP are:  Ensuring a quick recovery from a natural disaster or critical event  Ensure business continuity by having a BCP to quickly restore critical functions of the business minimizing impact on employees, customers and stakeholders.  Enhance customer confidence by having a BCP that will enhance the management of effects in a critical incident or natural disaster allowing us to continue to provide services to our customers. Components The following components will be considered when defining the business continuity strategy and developing the Business Continuity Plan: Business impact analysis to identify

critical business functions, resources, and potential vulnerabilities. We will thoroughly analyze business functions, resources, and dependencies. A risk assessment will be conducted to identify potential hazards and vulnerabilities for the organization. Strategies for maintaining or restoring critical business functions will be developed, including emergency response plans and backup and recovery procedures. A detailed Business Continuity Plan will be developed and communicated to all stakeholders. Goals BCP Goals and Objectives The long-term goal of a BCP is to ensure the survival of the business in the event of unexpected disruptions. A short-term goal of this project is to establish protocols for maintaining or quickly restoring critical business functions in the case of a disaster or major incident. The objectives of a business continuity plan are to: Identify and prioritize critical business functions and resources. Develop protocols for maintaining or quickly restoring critical business functions. Communicate a BCP to all stakeholders by developing and documenting it. Establishing a BCP is essential for our small business especially since the business is located in a hurricane zone. Insurance policies help mitigate the financial losses, but they cannot guarantee that operations will resume after the disruption. By developing and establishing a BCP, we will be able to know what the critical operations are of the business so we can get those back up and running as quickly as possible and get the business running again.

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