Risk Management

Risk Management

According to the well-known law Murphy, if any trouble can happen, it happens. Moreover, of all the troubles that will occur, the damage from which the greater. The risk of an extraordinary situation is always there, and the effectiveness of its decision will depend on how much the company is prepared and it can withstand such impacts, or at least minimize damage to the business (Graham, 2006).

Discussion

Business continuity is a key aspect of any successful modern company. This issue has received considerable attention, including in establishing an information security company (Graham, 2006).

Business Continuity Planning

This activity aimed at reducing the risk of business interruption and the negative impact of such failures, business recovery to an acceptable level in a certain sequence and time frame from the date of termination. Business continuity planning procedure involves a risk assessment of various organizational processes, development of policies, plans and procedures to minimize the risks. The main purpose BCP - maintain key business functions of the company. It should be understood that the BCP is not confined to the smooth operation of software and hardware (McCrackan, 2005).

Speaking of ensuring continuity in the IT support business, worth mentioning the term “Planning for post-disaster”, advance a plan of action to reduce the damage and ensure the smooth implementation of the critical functions of the organization in the event of disaster. The term disaster in discussions means unplanned interruption of normal business processes due to the interruption in the IT infrastructure (Morris, 2009).

Difference between BCP and DRP

BCP aims to support business activity and business functions, while the DR is to maintain the smooth operation of information systems and data. At the same time, BCP focuses on preventing problems, and DRP - their decision. I.e. DRP aims to restore IT infrastructure from failures, while BCP covers business recovery (Morris, 2009).

Importance of Organization's Business Continuity Planning

According to the research, University of Texas, two weeks after the termination of the computer systems in 75% of the companies becomes critical loss of functioning or complete, and 43% of the companies after a disaster do not resume their activities. A study conducted in 2003 by the Institute of Business Continuity, showed that 26% of companies have suffered from the care of persons in key positions, 24% of the problems associated with IT facilities, 17 % from a negative opinion by a lack of BCP (McCrackan, 2005).

Problems Arise In the Absence of a Plan for Business Continuity

First of all, this:

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