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Disruptions don’t need to turn into crises if you have an effective businesscontinuity plan in place. If your organization is looking to create or revamp its businesscontinuity plan, be sure to avoid these five common pitfalls.
It also complements and works in tandem with other standards that focus on risk management, businesscontinuity management, and crisis management, like ISO 31000, ISO 22301, and ISO 22361. By understanding and anticipating potential threats, organizations can implement measures to mitigate risks before they escalate into crises.
What is the relationship between BusinessContinuity and Risk Management? The relationship between BusinessContinuity and Risk Management depends on the organization. In most cases, BusinessContinuity is a sub-domain of Risk Management. As that is too late and your business will have been interrupted.
In today’s post, we’ll lay out what these domains are, reveal which ones tend to get overlooked, and explain how knowing about the domains can help businesscontinuity professionals reduce their organizations’ risks and bolster their resilience. Risk management is not one-size-fits all.
Related on MHA Consulting: Driving Blind: The Problem with Skipping the Threat and Risk Assessment The Need for Threat Intelligence Traditional businesscontinuity methodology leans heavily on the threat and risk assessment or TRA, in which the organization identifies potential threats and ranks them in terms of likelihood and potential impact.
Risk assessment is a key component of the risk management process that identifies and evaluates all potential risks faced by an organization. Within the context of businesscontinuity , risk assessment focuses on operational risks that may result in business disruption. What Is Risk Identification?
As a reminder, risk management is the process of understanding the hazards facing an organization and taking steps to bring them to within a level determined to be acceptable by the senior leadership. More simply, the job of the risk manager is to identify, prioritize, and mitigate the risks faced by the organization.
We will discuss risk management, the critical importance of business impact analysis (BIA) , and the essential steps involved in a thorough risk assessment. We will end the series with an overview of the risk prioritization and mitigation stages of the process. The other key prerequisite is a solid governance framework.
In today’s post we’ll look at the top 10 free or almost free resources businesscontinuity management professionals can utilize to help them raise their BCM skills and effectiveness to ninja level. All you have to do is take the initiative and go get it. Prepare My Business for an Emergency. Another excellent DHS website.
What is BusinessContinuity. So, what is businesscontinuity anyway? It’s also a question that comes up all the time. So, what is businesscontinuity? I like to keep things simple, so the above is the simplest of all the definitions out there. What is businesscontinuity?
There has also been a rise in geophysical events including earthquakes and tsunamis which have killed more people than any of the other natural hazards under review in this report. While people always come first, it is as important to locate all of your organization’s assets. Where is your inventory?
The biggest lesson organizations should learn from incidents like the British Air disruption is that they are all , at their root, caused by human error. Mitigating this factor will yield dividends for any organization seeking to reduce Risk. Seismically inactive, no hazards, politically benign and calm weather.
Acute hazards pose a significant threat to organizations, as they can disrupt business operations, endanger employees, and lead to substantial financial losses. This is particularly pertinent given the growing threat of climate change, which is likely to increase the frequency and severity of acute hazards.
Four steps for organizations to proactively address chronic hazards Global climate change continues to have a profound impact on businesses worldwide, with chronic hazards such as flooding, wildfires, and extreme weather conditions posing a significant risk to industries.
Risk can never be eliminated but it can be mitigated. Related on MHA Consulting: The ABCs of ERM: The Rise of Enterprise Risk Management Introducing Enterprise Risk Management In addition to being a businesscontinuity consultant, I’m a business owner. Risk can never be completely removed, but it can be mitigated.
In today’s post, we’ll look at what these domains are, reveal which tend to get overlooked, and explain how knowing about the domains can help businesscontinuity (BC) professionals reduce their organizations’ risks, bolster their resilience, and protect their stakeholders. Risk management is not one-size-fits all.
Emergency management responsibilities are shared by local and provincial governments, First Nations, critical infrastructure, businesses and individual citizens. All these stakeholders are responsible to prepare for disasters and contribute to community resiliency. An additional step, and one often missed, is training and exercising.
In this second article in our three-part series for “Preparing Coastal Businesses for the Big 3,” we focus on what your business needs to do to effectively and efficiently prepare for an earthquake. Here are a few things to consider when preparing for earthquakes in your emergency management and businesscontinuity plans: 1.
This is because, long before an incident occurs, CI operators work with governments to create and test emergency plans to ensure adequate response procedures and businesscontinuity practices are in place, to deal with unforeseen disruptions. Without CI, societies can’t function—and this is never truer than during an emergency.
A disaster can take many forms, such as: A cyber attack A natural disaster like a flood or earthquake A power outage A disaster recovery plan is a critical component of a businesscontinuity plan or BCP meaning it’s essential for ensuring the survival of a business in the event of a crisis.
What is a Business Impact Analysis (BIA)? The Business Impact Analysis (BIA) is a cornerstone of the BusinessContinuity Management (BCM) Program. A simplified explanation - a BIA is a process that identifies your organization's critical functions, processes and the resources required to restore business operations.
With wildfire season upon us, it’s time to break down the responsibilities of emergency management - your business included. Emergency management responsibilities are shared by local and provincial governments, First Nations, critical infrastructure, businesses and individual citizens.
Provincial and local authorities are aware of the owners and operators of CI in their regions and together, they work to create and test emergency plans that will ensure adequate response procedures and businesscontinuity practices are in place, long before an incident occurs.
Flooding is one of the most common, pervasive, and costliest natural hazards in Canada , with a history of causing major disasters. This information can then be used to develop effective flood preparedness plans and mitigation strategies, such as building dikes or improving drainage systems.
But how can you be sure that your strategy to mitigate disasters will actually work? By following this five-point disaster preparedness checklist, you can guarantee that your business is ready for any disruptions or catastrophes. It’s therefore essential to create copies of all of your critical data and files and store them safely.
To help with this, it is crucial that organizations invest in operational resilience and businesscontinuity programs so that risk practitioners can more easily identify their business processes, important business services, and the key personnel responsible for those. Can the work be deferred?
Our Forever Free Initiative by the Erwood Group is our way of addressing the perception that businesscontinuity planning, contingency planning, and overall preparedness planning for business is too expensive and/or too complicated. This will provide greater and deeper insights to risk mapping to the business over time.
For a while, businesscontinuity has always had a slightly uneasy relationship with risk management. During his talk on risk assessment, he focused on there being no point in looking at likelihood when you are doing a businesscontinuity risk assessment. I thought this week I would talk about risk assessment.
For a while, businesscontinuity has always had a slightly uneasy relationship with risk management. During his talk on risk assessment, he focused on there being no point in looking at likelihood when you are doing a businesscontinuity risk assessment. I thought this week I would talk about risk assessment.
Defining these cyber hazards can be tricky. Nevertheless, the impact they can have on your business operations can be devastating. All online entities are vulnerable to these hazards. The post DDoS Attacks appeared first on Disaster Recovery & BusinessContinuity Blog. DDoS Attacks.
Making a list of all prospective third parties and assessing their risk is the first step in the third-party due diligence procedure. Depending on the situation, the geographical areas a corporation operates in, the third party’s business relationships, and other factors may all be significant.
From economic fluctuations to cybersecurity threats, from regulatory changes to environmental hazards, the risk landscape is constantly evolving, and organizations must be agile and proactive to stay ahead. There's a better way to mitigate the risks and save money in the current fiscal year. We all have software vendors.
From economic fluctuations to cybersecurity threats, from regulatory changes to environmental hazards, the risk landscape is constantly evolving, and organizations must be agile and proactive to stay ahead. There's a better way to mitigate the risks and save money in the current fiscal year. We all have software vendors.
ISO 27001 compliance can be confusing because the sheer volume of standards is overwhelming, but the right program can ensure businesscontinuity. Rather than implementing controls as a checkbox activity, risk-driven organizations proactively choose controls that best mitigate their risks. What is ISO 27001? Staff Training.
There will be copycats, all airports need to ensure that they are ready. As a result, there seemed to be no consensus on how to mitigate the threat. I also think the first response to a new hazard is usually overcautious. Why leave people stuck on planes for hours – lack of a plan to get them to airport?
There will be copycats, all airports need to ensure that they are ready. As a result, there seemed to be no consensus on how to mitigate the threat. I also think the first response to a new hazard is usually overcautious. Why leave people stuck on planes for hours – lack of a plan to get them to airport?
Herrera Unplugged is an occasional series in which MHA Consulting CEO Michael Herrera shares his candid views on current hot-button businesscontinuity topics. You might think that a company spending a substantial sum for the advice of a businesscontinuity consultant would do everything it could to make the collaboration a success.
This week, I apply the PESTLE framework to businesscontinuity, in response to finding other risk management frameworks too restricting. Over the last few weeks I have been thinking a lot about risk management frameworks for businesscontinuity. Business process being found to be causing major environmental damage c.
This week, I apply the PESTLE framework to businesscontinuity, in response to finding other risk management frameworks too restricting. Over the last few weeks I have been thinking a lot about risk management frameworks for businesscontinuity. Business process being found to be causing major environmental damage c.
Episode 75: This week’s podcast is all about sin. Rick and Vanessa hit on these key points: • One problem with traditional crisis response is it is usually limited to response, leaving out such critical steps as prevention and mitigation. Vanessa’s guest is Rick Christ, a senior consultant at Crisis Prevention and Response, Inc.,
Episode 75: This week’s podcast is all about sin. Rick and Vanessa hit on these key points: • One problem with traditional crisis response is it is usually limited to response, leaving out such critical steps as prevention and mitigation. Vanessa’s guest is Rick Christ, a senior consultant at Crisis Prevention and Response, Inc.,
Episode 75: This week’s podcast is all about sin. Rick and Vanessa hit on these key points: • One problem with traditional crisis response is it is usually limited to response, leaving out such critical steps as prevention and mitigation. Vanessa’s guest is Rick Christ, a senior consultant at Crisis Prevention and Response, Inc.,
It’s a challenging time for all of us. We anticipate most companies will spend more resources monitoring emerging events in order to prevent or mitigate damages—examining secondary and tertiary areas of impact due to the rising complexity they are encountering. DOWNLOAD Corporate Security Predictions & Trends 2021 [PDF]. "It
In today’s bulletin, Charlie looks at the importance of businesscontinuity plans in schools and discusses some of the events that schools should be planning for. First of all, when working within education, you must look at the threats. First of all, when working within education, you must look at the threats.
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