article thumbnail

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.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastering the art of agility by leveraging readiness and response capabilities

Fusion Risk Management

Business continuity plans, recovery strategies, and crisis response plans can be complex, overwhelming, and time consuming – and they can stand in the way of agility in the midst of a crisis. A great place to start is to ensure that recovery planning is a strategic priority.

article thumbnail

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.

article thumbnail

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.

article thumbnail

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.

article thumbnail

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

Fusion Risk Management

But don’t fret – this does not mean that your business continuity (BC) team must suddenly become IT experts! They simply must understand, as BC practitioners, that IT could be a source of disruption and, therefore, work to embrace their portion of the business as it contributes to operational resilience.