The risk analysis and business impact analysis have identified risks to key business functions. Also, the potential impacts and probabilities of the risks, as well as the costs to prevent or mitigate damages and the time to recover will have been established. Evaluating and selecting strategies is based on using this knowledge. Strategy selection involves focusing on key risk areas and selecting a strategy for each one.
The primary goals are:
- To maintain business continuity in the face of a disruption or disaster.
- To recover key business functions quickly.
- To mitigate damages.
Many companies associate disaster recovery and business continuity only with IT and communications functions, thereby missing other critical areas that can seriously impact their business. Other common areas for strategy development and selection are employees, facilities, power, customer service, billing, and customer and public relations. All areas require a clear well-thought-out strategy, based on recovery time objectives, cost, and profitability impact.
Recovery related to employees is the most overlooked part of strategy selection. Simple steps such as contacting employees and ensuring all are accounted for at each facility are often overlooked. Communication is critical to keep employees informed and engaged. The most powerful tools for continuity and recovery are the knowledge, capabilities, and motivation of employees.
Developing strategies with implementation steps means no time is wasted in a recovery scenario. The focus is to implement the plan quickly and successfully. The right strategies implemented effectively minimize the disruption and mitigate damages.
In some cases, a strategic decision may be no strategy at all. In this scenario, business interruption or business income insurance may be a viable strategy. Generally, this provides the company with the income it is losing due to damage to its property. It, therefore, increases the company’s chances of survival and the ability to keep its customers and recover.
Bob Mahood
Midwest Data Recovery Inc.
www.midwestdatarecovery.com
866 786 2595
312 907 2100
