Business Continuity And Risk Management - 1593 Words

Business Continuity (BC) and Risk Management (RM) are closely intertwined in both the policies, procedures, and maintenance of most businesses. They’ve become necessary for providing the guidelines on maintaining functionality regardless of any threats or events that may disrupt services. Vaid notes in his article on the subject, that in the case of modern businesses, â€Å"When customers become accustomed to a service it then becomes a ‘utility’. What was once considered an ‘event’ becomes ‘operational’. Such a mindset forces businesses to converge BCP and operational risk practices.† (Vaid, 2008) Every tailored Business Continuity Plan (BCP) and Risk Management Plan (RMP) is dependent upon the individual requirements of the company, but many share the same areas of function that can be reviewed, updated, and tailored to their business’ needs. Evaluations and reports that can assist in this include a Business Impact Analysi s (BIA), Records and Information Management (RIM) report, Disaster Recovery Plan (DRP). In an effort to provide a solid overview of these evaluations, all of which should be done to develop an effective and integrated BCP/RMP, this paper will review how they apply to risk management and business continuity. A generalized compilation of information for an integrated BCP and RMP will also be provided as a possible model for businesses to follow when planning for risk management and business continuity. There are several assessments which should be done in orderShow MoreRelatedBusiness Continuity Plan as a Part of Risk Management18773 Words   |  76 Pages........................................7 CHAPTER 1 RISK MANAGEMENT ............................................................8 1.1 The Definition of Risk ............................................................... 8 1.2 Risk in Business Activity......................................................... 10 1.2.1 Types of Risk ..................................................................................... 10 1.2.2 Methods of Risk Evaluation...........................................Read MoreBusiness Continuity And Asset Protection998 Words   |  4 PagesMODULE 6 - ASSIGNMENT ENVM 662: Business Continuity and Asset Protection Module 6: Developing and Implementing the Business Continuity Plan Each question or subpart is worth 10 points. Score will be recorded as a percent. Provide appropriate references for all source materials. 1. Identify information needed for the development of a Business Continuity Plan for the University of Findlay. - For the development of business continuity plan for the University of Findlay they must be provide excellentRead MoreThe Business Impact Analysis ( Bia ) And Risk Assessment1246 Words   |  5 PagesThe business impact analysis (BIA) and risk assessment are foundational elements of every effective business continuity program; however, in our experience, many business continuity planning participants experience a lot of confusion regarding the definitions, relationship, and expected outcomes between the two processes. This confusion often results in outcomes that fail to drive preparedness. Avalution acknowledges that there are many different ways to design and execute BIA and risk assessmentRead MoreCase Study : Area Risk Assessment862 Words   |  4 PagesITGC Area Risk Assessment IT Management Low Systems Development Low Data Security Medium Change Management Low Business Continuity Planning High Alexandra DeHaven IT General Controls ITGC Area Summary of Issue Strength or Weakness IT Management FFC has an IT strategic plan Strength IT Management FFC has an IT Steering Committee Strength IT Management VP Information Security reports to CIO Weakness IT Management FFC plan matches IT plan Strength IT Management VP Applications reports to CIORead MoreFinancial Expansion Into Investments And Its Impact On The World Market Essay1040 Words   |  5 Pages2. Risk Management Strengthen financial expansion into investments that are responsible or sustainable invest-ment, long-term business investment that specializes in providing reasonable returns and consistent-ly, create a value-added to shareholders and stakeholders. Focus on a process of risk assessment of business opportunities that are standard across organization, measures to manage, edit and prepare a management plan for business continuity as supporting the crisis (Business Continuity Plan)Read MoreBusiness Continuity Plans And The Disaster Recovery Plan1580 Words   |  7 Pages Business Continuity Plans (BCP) Paul D. Singleton Jr. March 11, 2015 ISSC481: IT Security: Planning and Policy Karen Paullet American Public University Business Continuity Plans (BCP) The Business Continuity Plan (BCP) and the Disaster Recovery Plan (DRP) are twin resources derived to preserve vital organization operations when facing an unsuspecting disaster. A disaster can be either natural or man-made. Natural disasters include floods, fires, earthquakes, and lightning strikesRead MoreReport on Continuity Planning Overview1010 Words   |  5 Pagesï » ¿ Assignment 1: Report – Continuity Planning Overview Clarissa Ensley Instructor: Shaun L. Gray CIS 359: Disaster Recovery Management July 13, 2014 Business continuity planning and disaster recovery capability will become compulsory for all healthcare business for the first time in the United States healthcare industry. The health insurance portability and accountability act (HIPAA) that was passed by the United States congress in 1996 has a partRead MoreHuffman Trucking Initial Risk Assessment1366 Words   |  6 PagesHuffman Trucking Initial Risk Assessment Introduction Huffman Trucking is a national transportation company based in Cleveland, Ohio. (UOP, 2009) The organization has 1,400 employees and 800 trucks on the road, with logistical hubs in California, New Jersey and Missouri. The company’s mission reads: â€Å"our mission is to be a profitable, growing, adaptive company in an intensively competitive logistical services benefit environment.† The focus of Huffman’s mission is on stockholders, customers, regulatoryRead MoreCase Study : Strengths And Weaknesses1447 Words   |  6 PagesStrength or Weakness IT Management FFC has an IT strategic plan Strength IT Management FFC has an Executive Steering Committee Strength System Development FFC’s Internal Audit Committee has a voting member of project team responsible for new project Strength Change Management FFC’s IT personnel adequately test new procedure before implementation. Strength Business Continuity Planning FFC has no documented business continuity or disaster recovery plan Weakness IT Management FFC has an Executive SteeringRead MoreBusiness Continuity Plan For A Business1425 Words   |  6 PagesIntroduction Business Continuity Plan (BCP) is made in order to continue business operation when the business site is adversely affected by some natural calamities like flood, storm, earthquake, fire, communication failure or by some terrorist attacks and crimes. This plan explains the measures taken by the organization to recover its business operation or operation transferred to another business site. Business continuity plans are made to recover from both short term and long term disasters. Plan