A business continuity plan is something that sets up a process which helps make sure your business can keep running after a major disaster or disruption. It is important to frequently evaluate your plan; however, time and resource, alongside the busy day-to-day running of your business, can make this difficult.

This article aims to help by means of explaining the important instances when you need to consider reviewing your business continuity plan. This should help ensure you’re fully prepared and can keep your business running if something bad occurs.

Why To Review?

As with many other processes you have to perform in your business, which normally includes risk assessments and your health and safety policy, it’s important to check your business continuity plan to ensure it is up-to-date, reliable and will work. Your business risks can change as it, your specific industry and the environment you work in change as well. This could take in:

  • New companies build near to your company and posing some risks
  • Local canals or rivers becoming more at risk of flooding
  • A virus infection spreading across the region of your company
  • Your company dealing with dangerous chemical substances
  • New computer virus or international cyber attack

When To Review?

With regards to reviewing your business continuity plan, the times to review this are when major changes arise in your business. These are the modifications across your company’s processes and people who are essential to your business. Following these changes, you’ll most likely need to add some new and important information to the plan.

You must intend to review your plan at least once a year, or every six months, if possible. Setting your time aside to carry out this will help you spot new risks. It is an excellent thing to plan in advance and keep a schedule, so you’re organized for when the time comes round to perform your review.

You additionally should evaluate your business continuity plan if processes in the plan change. For example, the emergency site you intend to work from and improve your business is not accessible. Or probably a team member of your business continuity planning leaves your company.

Operational Changes

  • When you have moved, built a new workplace or acquired a new site, which includes new equipment, resources, or data
  • When starting to launch new services or products
  • When the priority levels in your business change
  • When you use new equipment, improve your technology, or change your production processes

Staff Changes

  • When you change the workers that your business can’t function without. This could consist of senior workers who lead your sales team or manage your business accountancy
  • When you appoint workers to manage a new site
  • When your workers responsibilities change, such as junior workers being promoted to major responsibilities
  • When you extend your list of major contacts or change your suppliers

As soon as reviewed and updated, you need to reorganize your plan to the major people in your business and make certain it’s given to your business continuity planning team. You have to additionally make them aware to the changes and adjustments you’ve made, so they are organized for when the plan has to be implemented. You should save your updated plan in a secure location and make sure people on your business continuity team know where it is located. You should also get rid of any outdated versions of the plan you’ve saved.

Small Business Financing News │ Merchant Advisors | blog
Why & When Do You Need To Review Your Business Continuity Plan?
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Business disasters can happen at any time. So you need to have a business continuity plan ready to respond to such disaster or other business breaks.
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