Risk Assessment For Business Continuity

In creating business continuity plans, every organization completes a series of risk assessment exercises. Without this general risk assessment, it would be impossible to prioritize what BCM plans are needed. Each time a specific threat arises, business continuity teams need a risk assessment process to determine if the event merits activation of BCM teams and plans.
Monitoring Early Warning Signs
The key to effective event-specific risk assessment is to have some early warning detection in place. To best manage unplanned incidents, it helps to have visibility into the potential disruptions before they occur. Obviously, certain types of disruptive events are more easily monitored than others. Weather, for example, can be monitored closely via the National Weather Service, Accuweather and other sources. Most major storms are predicted in advance, enabling close monitoring by BCM teams. Similarly, floods and fire warnings are often weather-related and threat levels can be monitored closely.
Company reputation is another threat that is easily monitored via social media, traditional media and call center feedback. Many organizations keep their finger on the pulse of these channels to determine when and how to respond to situations as they arise.
Civil unrest is another threat factor that can be…
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