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Collectively, these guidelines make up the FFIEC Business Continuity standard, whose purpose is to make sure the banks and other financial institutions that are required to follow it can continue to operate even if they are hit with a disruption. For this reason, it is often referred to as the Gold Standard of BCM standards.
Related on BCMMETRICS: Don’t Give Up the Ship: Demonstrating the Benefits of Rigorous Crisis Management Training Benefits That Go Beyond BC The main purpose of a business continuity management (BCM) program is to help an organization get through disruptions with the least possible impact to its operations, reputation, stakeholders, and bottom line.
Business continuity is not a project with a finite end; it’s an ongoing process. The organizations that do it right have best-in-class ongoing programs to maintain and continuouslyimprove their plans. The dynamic nature of risks requires constant adaptation to maintain the effectiveness of business continuity plans.
We recognize that many business continuity planning terms and industry-leading methodologies can be foreign to your organization. It can be overwhelming if your organization has never implemented a robust business continuity program. It requires a budget and long-term commitment (hence why it is a BCM Program).
We recognize that many business continuity planning terms and industry-leading methodologies can be foreign to your organization. It can be overwhelming if your organization has never implemented a robust business continuity program. Section 2 - Business Continuity Management (BCM) Program Implementation.
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