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Everything You Need to Know About Business Continuity Plans

Erwood Group

Everything You Need to Know About Business Continuity Plans. Business Continuity Plans. Chances are if you’re visiting this page, you are new to the concept of Business Continuity Plans (BCPs) and business continuity overall. Definition of Business Continuity Plan.

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Reviewing the Five Types of Risk 

MHA Consulting

However, for long term security, businesses need to balance a concern for those areas with vigilance about the other types of risk: strategic, compliance, and reputational. In one respect, COVID continues to distort people’s approach to risk. The possibility that things might go wrong as the organization goes about its business.

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Geopolitics, regulations, and resilience

Fusion Risk Management

They also emphasize the need for organizations to strengthen their business continuity (BC) and operational resilience programs as well as prioritize agility to mitigate emerging threats and ensure compliance with global regulatory mandates.

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When You Can’t Rely on a Crystal Ball, Elevate and Invest in Resilience

Fusion Risk Management

But, with the invention of a crystal ball not on the horizon, organizations need an alternate way to gain a complete view of their important business services and be better prepared to prevent a potential disruption before it materializes. In today’s fast-paced world, resilience must be a strategic priority for businesses.

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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

have dedicated teams that own the operational resilience initiatives in response to the local regulators but need more collaboration with other disciplines like Business Continuity which may operate from different geographies. The intent is to establish “resilience-by-design” in strategic investments and critical projects.

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DORA: Moving Beyond the Basics of Compliance and Implementing a Cross-Functional Approach to Resilience

Fusion Risk Management

It is important to recognize, however, that DORA is not simply a “check-the-box” compliance activity. And while it may seem like certain aspects of the regulation belong to different parts of your organization, a cross-functional approach will best serve your business and your comprehensive operational resilience strategy in the long run.