After a disaster strikes, business owners want to be able to bounce back with ease. Unfortunately, many businesses will find themselves unable to re-open after a disaster if they were improperly prepared. Taking the time to prepare ahead of time can greatly increase your business’ chances of surviving and resuming normal operations after an incident. For this reason, a significant part of your Risk Management program should be dedicated to disaster recovery, and a business recovery plan is a great tool to help you get back on track.
The purpose of a business recovery plan is to minimize the operational, financial, legal, and other material consequences – including to your business’ reputation — that can arise from a disruption. The plan should cover policies, standards, and procedures for ensuring that specified operations can be maintained and recovered in a timely fashion in the event of a disaster.