It needs to articulate why business continuity is necessary and Governance is critical in this phase.
Knowing who is responsible for the creation and modification of business continuity plans is one component.
Events should be clearly described in policy documents, as should who or what can trigger that an incident has occurred.
These triggering actions should prompt the deployment of the business continuity plan as it is defined and bring the team into action.
It also involves defining potential risks including fire, flood or cyber attacks.
Business leaders plan to identify and address potential crises before they happen.At this phase, potential solutions need to be identified, evaluated, and priced.With this new information, which includes probability and cost, the organization needs to prioritize which risks will be addressed.Once mitigation plans are in place, those also should be assessed to ensure they are working correctly and cohesively.With business continuity, defining what constitutes an incident is essential.Business continuity management is a critical process.It ensures your company maintains normal business operations during a disaster with minimal disruption.Risk assessment identifies the broad array of risks that could impact the enterprise.Identifying potential threats is the first step and can be far-reaching.While companies aim for 100 percent uptime, that rate is not always possible, even given redundant systems and storage capabilities.This phase is also the time when you need to calculate your recovery time objective, which is the maximum time it would take to restore applications to a functional state in the case of a sudden loss of service.