Creating a Business Recovery Plan
It is essential that businesses have an action plan in place to ensure that they are able to recover quickly in the event of a major disruption, such as a significant loss in revenue.
Here are our key steps to creating a business recovery plan that will help to ensure business continuity, regardless of any stumbling blocks that your business may encounter.
Identifying critical business functions
Identifying the critical functions that your business needs in order to continue operating will mean that you are able to prioritise these areas when it comes to implementing your business recovery plan.
This could involve examining the minimum resources that you will need to get your business up and running should your business suffer a significant setback and this can look at areas such as staffing, data and premises amongst other functions.
If your business is dependent on other suppliers or organisations then these will also need to be factored into your business recovery plan.
Set out a clear structure
Your business recovery plan should have a clear structure and should outline the main risks faced by your business, such as market pressures and the impact that these could have on your business.
Your business recovery plan should also be linked to company policies and existing protocol so that the whole business is familiar with the terms and strategies outlined in the business recovery plan.
In order to ensure the smooth implementation of your business recovery plan, it should also contain guidelines of how it should be activated and implemented. This needs to include outlining the role of each department in the business recovery process and identifying which key members of the management team will oversee the process.
Test your plan
Testing aspects of your business recovery plan with all members of staff through a series of ‘mock’ scenarios can help to identify which aspects work well and where there is room for improvement.
This information can then feed into your business recovery plan to ensure that you have identified the most suitable strategy for your needs.