Contingency plans are used by smart managers who are aware that there are always risks that can sideline any project or business. Without having a contingency plan in place, your organization won’t be well prepared for risk management. What Is Contingency Planning? The term contingency planning ...
In this post, understand what contingency planning is, learn how to create your own plan, and discover examples you can use for inspiration.
Vulnerability The identification of vulnerabilities is a vital step in contingency planning and the implementation of countermeasures that prevent an incident or limit its impact if it does occur. A vulnerability is a weakness in a business system, a security procedure or internal controls, which can...
Why does business continuity planning matter? Having a plan means you can respond quickly and decisively, minimizing disruption — which is key to maintaining customer confidence in the face of a crisis. For this reason, business continuity planning is vital to businesses of all sizes. Disruptions...
A contingency plan is sometimes referred to as "Plan B" or a backup plan because it can also be used as an alternative action if expected results fail to materialize. Contingency planning is a component of business continuity (BC), disaster recovery (DR) andrisk management. ...
What Is Contingency Planning? How Emergency Preparedness Can Save Your Business What is a business continuity plan? SAP’s global HR value advisor, Chiara Bersano, has a unique perspective on the question. In 1999, she was working for a global company that operated a factory in Izmir, Turkey...
Business continuity planning is a proactive business process that lets a company understand potential threats, vulnerabilities and weaknesses to its organization in times of crisis. The creation of a business continuity program ensures company leaders canreact quickly and efficiently to a business interrupt...
Business continuity planning and disaster recovery are two different but related concepts. Your BCP is a safety net, there to limit downtime resulting from any number of different business disruptions. A disaster recovery plan is like a specialist in your BCP, there to fix your IT systems after...
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It is not unusual for a business contingency plan to include provisions for outsourcing certain functions as part of the emergency provisions. For example, a fire that renders the main office of a company unusable may lead to redirecting the main telephone numbers for the business to an answeri...