It doesn’t matter if you call it business continuity, organizational resilience, risk management, disaster recovery or continuity of operations, there are some important terms, every beginner needs to know to have a sustainable program. Here is my take on some of these common BC terms. Consider it a BC beginner’s cheat sheet!
THE BUSINESS CONTINUITY NEWBIE CHEAT SHEET
1. Business Impact Analysis
Define, measure & assess the financial, customer, regulatory and/or reputational impacts & determine an optimal Recovery Time Objective (RTO). You will most likely determine that the cost of not having organizational resilience is very high.