Business Continuity
Benefits of a Business Recovery Plan
Business Recovery Plans are not required by law, but a comprehensive, regularly tested plan can help an organisation insulate itself from litigation for negligence. The very existence of a plan could be a defence that the company had not neglected preparation for disasters in management responsibilities.
The major benefits from developing a comprehensive business recovery plan can be summarised as:
- Minimised potential economic loss
- Reduced legal liability
- Reduced disruption to normal operations
- Ensured organisational stability
- Ensured orderly recovery
- Minimised insurance premiums
- Reduced reliance on key personnel
- Increased asset protection
- Ensured safety of personnel and customers
- Compliance with legal and regulatory requirements
- Minimised decision making during a disaster
- Gaining a Clear understand of how the business really interacts
- Forging Interdepartmental cooperation as every organisation will need a crisis team made up of people from many key departments.
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