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This post is part of BCM Basics, a series of occasional, entry-level blogs on some of the key concepts in business continuity management. They soon find the field contains an abundance of specialist terms such as inherent risk , mitigation controls , and recovery time objective.
Risk mitigation controls are the measures we take to reduce the risks our organizations face in carrying out their operations. Related on MHA Consulting: The Ultimate Guide to Residual Risk Risk Mitigation Controls Explained Business continuity is all about reducing risk. You can see why risk mitigation controls are important.
Most of these have had demonstrable impacts on the practice of business continuity management (BCM), rendering some traditional practices obsolete and ushering in new concerns and techniques. It’s interesting to look at BCM practices that have fallen into disuse or are no longer regarded as beneficial or sufficient.
What is a Business ImpactAnalysis (BIA)? The Business ImpactAnalysis (BIA) is a cornerstone of the Business Continuity Management (BCM) Program. If not executed efficiently, the organization’s stakeholders could quickly lose interest, and the BIA results could not meet your BCM Program requirements.
Related on MHA Consulting: Roll with the Changes: A New Generation Requires a New Approach to BCM It is comforting to think that if we master one set of marketable skills, we’ll be able to make a living from them for the rest of our careers; however, recent history shows that option is no longer available (if it ever was).
Related on MHA Consulting: BCM Basics: Modern IT/DR Strategies The Benefits of a Sound Business Continuity Strategy A solid BC strategy is a fundamental component of a functional BC program. Step 3: Determine the Members of Your BCM Team To develop a BC strategy you need to assemble a business continuity management (BCM) team.
In fact, according to respondents in the 2022 Global BCM Compensation Report , about 60% anticipate having a hybrid work solution with one to four days in the office and the rest remaining remote. It’s about determining how likely a risk may occur and what its impact on operations may be. Get The The Plausible Scenario Builder.
In one recent engagement, MHA was tasked with picking up the pieces after a Business ImpactAnalysis (BIA) conducted by another consulting firm suffered a crack-up. The incident has been painful for the client and challenging for us, but it offers valuable lessons to other companies. Make sure your RTOs are industry-appropriate (e.g.,
In today’s post, we’ll look at how such a model can help an organization understand its risks, mitigate the risks that threaten its core services, and integrate business continuity with enterprise risk management, thus boosting resilience overall. Related on MHA Consulting: Who’s the Boss?
In today’s post, we’ll look at how such a model can help an organization understand its risks, mitigate the risks that threaten its core services, and integrate business continuity with enterprise risk management, thus boosting resilience overall. Related on MHA Consulting: Who’s the Boss?
Is risk management a paper exercise in meaninglessness, where it all looks good on paper, but if it doesn’t actually lead to action and mitigation then what is the point of it? Much of the mental effort and the time of business continuity goes into the Business ImpactAnalysis (BIA).
Is risk management a paper exercise in meaninglessness, where it all looks good on paper, but if it doesn’t actually lead to action and mitigation then what is the point of it? Much of the mental effort and the time of business continuity goes into the Business ImpactAnalysis (BIA).
Once you know your critical functions you should also conduct a risk assessment and then a business impactanalysis that allows you to properly assess situations that could negatively impact your business. You can then use the Utility of your BCM program to effectively calculate the ROI of your program.
Is risk management a paper exercise in meaninglessness, where it all looks good on paper, but if it doesn’t actually lead to action and mitigation then what is the point of it? Much of the mental effort and the time of business continuity goes into the Business ImpactAnalysis (BIA).
A critical process called Business Continuity Management (BCM), not many organizations sadly have these programs in place. To help your organization better understand how BCM works and ways to implement such systems, in the following article, we will discuss what it is, why to use it, and best practice strategies. Yes, that is right.
A critical process called Business Continuity Management (BCM), not many organizations sadly have these programs in place. To help your organization better understand how BCM works and ways to implement such systems, in the following article, we will discuss what it is, why to use it, and best practice strategies. Yes, that is right.
Once implemented, a Business Continuity Management (BCM) Program will support your organization's value statement and its mission. The implementation of a Business Continuity Management (BCM) Program can be a complicated and lengthy process, which directly depends on the organization's size and complexity.
Once implemented, a Business Continuity Management (BCM) Program will support your organization's value statement and its mission. Section 2 - Business Continuity Management (BCM) Program Implementation. Section 4 - Business ImpactAnalysis. Section 9 - BCM Program Maintenance. 4 – Business ImpactAnalysis.
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