By L S Subramanian, Management consultant in Banking, Financial Services & Capital Markets
To beat the coronavirus disease (COVID-19) Pandemic it is important to review your organizations BCP and DR plans individually, though both are essential and deal with risk, their outcome and objectives are different.
The BCP- Business Continuity plan is created to continue business operations and requires a business impact analysis, risk assessment and business continuity strategy, this plan ensures that you business does not shut down during adverse conditions.
The DR – Disaster Recovery plan is to ensure that you have accesses to technology and infrastructure during adverse conditions. The BCP and DR are designed to work in tandem; essentially, the DR plan is a part of the bigger BCP.
In the wake of the havoc caused by the coronavirus disease (COVID-19) which has been declared as a pandemic by the World Health Organization (WHO); the outcome on this disease on people processes and technology in business will be intense. Hence there is a urgent need for the business to prepared for disaster and to be ready for the unexpected. B
Business are people dependent and the coronavirus disease impacts the people in your business. It may not be possible to have enough people in your organization to replace those who are brought down by the coronavirus disease. If one person is infected the whole office needs to be quarantined to ensure that others are not affected, this is different from a natural disaster or losing a few key personnel.
Business rely on their institution’s BCP and DR to keep the business operations running smoothly and also to review and guide the team to be ready with strategies and processes and plans that need to be initiated to sustain the business.
Your business survival is dependent on your BCP and DR readiness in the time of crisis, the coronavirus disease spares no one neither the CEO nor the janitor, all have the same vulnerability.
The first step is to ensure that you educate all your employees, customers, contractors on basic hygiene required to keep the corona virus disease at bay. Thank fully the government and social media and the press have been aggressively communicating advice on how to stay safe.
The time has come for the board to step in and review the Business Continuity plan and Disaster Recovery plan of the business in the current pandemic climate. If the Board cannot meet they must nominate an executive committee who is empowered to invoke the BCP and DR plan.
It is important that that the board act and empower the execution of BCP and DR drill at the earliest after considering the outcomes that may be expected from the Coronavirus disease.
The Board must if in-house talent is not available invite an outside consultant specialized in BCP and DR to help to review and get started with the companies BCP and DR Drills.
Nowhere to fly ! Nowhere to Go! What is your BCP plan ?
Meanwhile allow people to work from home, keep any infected person away from work with fully paid leave, be aware that empty airplanes will not fly for long, so better be grounded and have your core team readily available. Stock up on essentials and make sure that your key personnel are prepared to execute your plans.
All the best in your battle with the coronavirus disease (COVID-19) Pandemic ! This post was inspired in a conversation with my friend Nirmal!