Business Continuity Management (BCM)
What information can support you in challenging times?
The current flooding situation is Thailand's worst in five decades, seriously disrupting business activity and causing huge losses. However there are ways that organisations can minimise the impact of such a crisis if they have a properly drawn-up Business Continuity Plan (BCP). If your business, home or community has been hit by floods, your first thoughts naturally focus on survival. Here are some practical emergency management guidelines to help you react to the unexpected.
We combine key lessons from our own recovery at PwC, as well as those of our clients and communities. We have also collated some global insights on how to respond when natural disaster devastates on such a large scale.
We include a high-level Business Continuity Management (BCM) checklist to help you ensure that you have considered all the factors in your response and recovery phase. In the coming weeks and months, we will continue to share our insights to support you in restoring and rebuilding, so that you and your business can emerge even stronger and more resilient.
Business Continuity Management (BCM)
- an integral part of Corporate Governance
The speed with which modern business is transacted means that a disruption of only a few hours can have a catastrophic impact on the profitability and reputation of the affected organisation. Although this will have an immediate and adverse impact, it can also damage an organisation’s long term viability.
Business continuity management (BCM) will help to prevent operational interruptions, crises and disasters happening and will help organisations quickly return to a state of 'business as usual' should any of these events occur. Once it has been prepared the business continuity plans (BCP) must be tested and exercised to ensure that they will perform as anticipated.
The Value of Business Continuity Management
Organisations cannot possibly prepare for every scenario but the more extensive planning and preparation, the better-prepared is the organisation to react to the unexpected. A robust Business Continuity Plan (BCP) documents the steps to be taken, the resources needed and the procedures to be followed before, during and after the crisis. Strong Business Continuity Management (BCM) offers the following:
- Increased levels of employee readiness to ensure safety of personnel and an organised organisational response
- Compliance with applicable regulatory requirements and fiduciary responsibilities to avoid potential penalties and litigation
- Prioritised recovery of the organisation's business processes to achieve optimal allocation of resources focused on protecting revenue and containing costs
- Facilities/workspace management solutions that balance the high cost of real estate against the need to disperse the organisation's intellectual capital
- Customised response strategies focused on high probability scenarios that ensure the efficient and effective allocation of the organisation's Business Continuity Plan (BCP) budget
- Well-planned incident response/communications framework designed to address internal and external requirements
- Awareness of business partner/third party continuity plans to ensure uninterrupted service and protection of the entire value chain.
Our engagements can begin anywhere along the following BCM lifecycle and are tailored to your organisation’s operating strategy and business requirements.
- Business Impact Analysis (BIA) and Risk Assessment: An enterprise-wide understanding of key business functions and processes
- Recovery Strategy Selection: Identifying practical and cost-effective strategies
- Business Continuity Plan (BCP), Disaster Recovery Plan (DRP) and Crisis Management Plan (CMP) Development: Using a workshop approach stressing realistic plans to recover after a disruption
- BCP Testing and Maintenance: Testing that increasingly challenges your teams
- BCM Programme Evaluation Including Individual Plan Assessments: Understanding how your programme compares to existing standards and other companies
- Emergency Preparedness Evaluation and Plan Development: Helping our client’s ensure the life safety of their employees