Why Business Continuity Planning (BCP)?
• 43% of US companies never reopen after a disaster and 29% more close within 3 years. • 93% of companies that suffer a significant data loss are out of business within 5 years. • 20% of small to medium size businesses suffer a major disaster every 5 years. • 78% of organizations that lacked contingency plans but suffered catastrophic loss were gone within 2 years…most had insurance, and many had business interruption coverage! 2. What is the difference between Business Continuity and Disaster Recovery? Business Continuity Planning focuses on the restoration of business functions. Disaster Recovery focuses on the restoration of infrastructure that supports business functions. 3. What does a BCP do for me? • It addresses actions to be taken before, during and after a disruption of business functions. • It spells out in detail the what, who, how and when of a recovery plan. • It reduces liability and disruption to normal business operations while assisting with the decision making proces
