Step 1-Analyse your business
Step 1
Analyse your business
Get the buy-in of top management and put together a complete picture of your business.
Identify and examine critical functions that are essential to its endurance and consider:
- the support available within your own business; and
- which individuals are best placed to review the issues.
We recommend that you use ROBUST by RISCAuthority to build and maintain a business continuity plan.
The software is free for all to download and install, and its development included contributions from Allianz and other UK commercial insurers.
Step 3-Developing your strategy
Step 3
Developing your strategy
Having identified the risks, it should then be possible to address each exposure in order to:
- eliminate the hazard altogether;
- avoid the hazard by doing things differently;
- control the hazard in order to reduce its impact; or
- plan for the occurrence.
Some risk improvement measures may be considered essential and might mean changes need to be made to some current working practices, while others may not be viable after the financial costs are considered.
Review our risk topics guidance pages to help you manage hazards.
Step 5-Rehearse your plan
Step 5
Rehearse your plan
Give your plan a regular health check. Test the plan at least once a year or as often as is practical. This will highlight any weaknesses and allow suitable changes to be made.
Keep copies of the plan securely offsite and ensure that they are accessible at a moment’s notice.