It is difficult to predict when a disaster might strike a company and affect the functionality of its business. Multiple things can go wrong in unexpected ways. This is where the importance of a business continuity plan (BCP) comes into play. A BCP gives a company a much-needed cushion during a disaster and helps it recover from the same.
What is a business continuity plan?
Business continuity is the ability of an organization to maintain a business or resume the same in the event of a fire, flood, or a malicious attack by a cybercriminal. A business continuity plan is the abstract of all the instructions, processes, and procedures that an organization should follow to face a disaster. It takes into account any possible disruption that can affect the business.
A Business Continuity Planner can earn an average salary of $71,586, according to PayScale.
EC-Council University offers a specialization in Incident Management and Business Continuity under its Master of Science in Cyber Security degree. This specialization has been designed to train students so that they know what steps and procedures to follow when disaster strikes.
Why is business continuity planning important?
Business continuity planning is essential for an organization to identify and address any obstruction that can harm the IT infrastructure, applications, and processes of the business. A BCP is laid down to mitigate any risk that an organization faces. It also lays down all the steps that should be taken before, during, and after a disaster has hit the business. This is done to maintain the financial viability of the company.
Benefits of Business Continuity Planning
Here are ways in which business continuity planning proves beneficial for business:
- It builds confidence among customers and employees. A BCP helps retain customers as it signals a high level of commitment and lets employees know what is expected of them in case of a disaster.
- Due to an organization’s preparedness to mitigate any risk during a crisis, brand value and reputation are preserved.
- A business continuity plan helps mitigate any financial risk that a business might face in case of a crisis or data breach.
- A strong business continuity plan gives an additional competitive advantage to an organization against its rivals.
How can you create an effective business continuity plan?
To create an effective continuity plan, an organization is required to assess its business processes, determine its vulnerabilities, and prepare a strategy in case of a potential loss. Organizations can use a business continuity planning tool to cross off all the steps that they have taken and prepare for the ones that are left in the checklist.
Business Continuity Planning Steps
An organization should take these five steps to create an effective business continuity plan:
Step 1 – Risk assessment
Step 2 – Business impact analysis
Step 3 – Business continuity plan development
Step 4 – Strategy and plan development
Step 5 – Testing and maintenance of the plan
About EC-Council University
EC-Council University is an accredited American online university that offers many programs in cybersecurity. The Incident Management and Business Continuity specialization under ECCU’s Master of Science in Cyber Security degree introduces students to business essentials, incident handling and response, disaster recovery, beyond business continuity, and more.
The university also offers short term programs in cybersecurity with its Graduate Certificate Programs. There is a separate program for Incident Management and Business Continuity for candidates who wish to learn about business continuity in a short period of time.