best practices for mitigating business risks through business continuity planning
TRANSCRIPT
Best Practices for Mitigating Business Risks Through Business Continuity
Planning
PresenterDr. Michael C. Redmond
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Strategies to Mitigate Business Risks by Utilizing Best Practices in Business Continuity and Disaster Recovery Planning
Should the firm adopt standards likeISO?
• Common Criteria– The ‘Plan Do Check Act’ Cycle– Business Continuity Policy– Business Impact Analysis– Risk Assessment and Risk Treatment– Business Continuity Plans and Strategy– Exercising– Internal Audit– Management Review– Non-conformity and Corrective Action– Continuous Improvement
Should the firm adopt standards likeISO 22301?
• ISO 22301• Unlike BS 25999-2, ISO 22301 is a “true” international standard (it was
developed by dozens of country representations and facilitated by the International Standardization Organization as opposed to the British Standards Institute), which will likely result in broader international acceptance and use.
• ISO 22301 (reflected from the ISO 22313 Guidance Draft) adopts a 6-element BCM approach to represents the continuous operations of the BC program within the organization.
• These six elements of the BC Program are: – Understand the Organization – Selecting Business Continuity Options – Developing and Implementing a Business Continuity Response – Exercising and Testing – Business Continuity Program Management – Embedding Competence and Awareness
Why have a Business Continuity Program?• Employees and customers will feel that the
business has their concerns in mind and investors are more comfortable
• BCP should become part of the business, that the seriousness of it is imbedded in the mission and goals of the business
• To Protect the company Assets, Reputation, Ability to be in and stay in business and more
What are the best practices for conducting Risk Assessment & Business Impact Analysis? • BS25999 • DRII• BCI• NFPA 1600• FFIEC• BS• HIPPA• ISO 27001/ISO 22301• And many more
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