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Volume 29, Issue 4

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Assuming The Probability Of Recovery

Written by  Henry Kalt Thursday, 22 November 2007 00:05

There are many types of risks that an organization faces. They can be financial, regulatory, competitive, or physical to name a few. The purpose of this article is to put forward a model to quantify and manage the risk associated with recovery. If a company has no business continuity and/or disaster recovery plan, they are taking a substantial risk. If a company sustains a disaster, what are the chances for recovery? Having a business continuity program and/or disaster recovery program in place increases the probability of recovery, but by how much? The purpose of this article is to provide a model for measuring the effectiveness of such plans. What Is Recovery Probability? Recovery probability is the quantifiable chance that a business has of recovering the business after a disaster. Recovery probability is assigned to those planned or unplanned actions, decisions, and events which a business takes to recover or survive immediately following