Even in the absence of any sales, general and administrative expenses occur. These types of expenses are listed below cost of goods sold on a consolidated income statement.
Communications, transportation, safety and service sector failure Environmental disasters such as pollution and hazardous materials spills Cyber attacks and hacker activity. Creating and maintaining a BCP helps ensure that an institution has the resources and information needed to deal with these emergencies.
Creating a business continuity plan A BCP typically includes five sections: BCP Governance Plans, measures, and arrangements for business continuity Readiness procedures Quality assurance techniques exercises, maintenance and auditing Establish control A BCP contains a governance structure often in the form of a committee that will ensure senior management commitments and define senior management roles and responsibilities.
The BCP senior management committee is responsible for the oversight, initiation, planning, approval, testing and audit of the BCP.
It also implements the BCP, coordinates activities, approves the BIA survey, oversees the creation of continuity plans and reviews the results of quality assurance activities.
Senior managers or a BCP Committee would normally: This BCP committee is normally comprised of the following members: Executive sponsor has overall responsibility for the BCP committee; elicits senior management's support and direction; and ensures that adequate funding is available for the BCP program.
BCP Coordinator secures senior management's support; estimates funding requirements; develops BCP policy; coordinates and oversees the BIA process; ensures effective participant input; coordinates and oversees the development of plans and arrangements for business continuity; establishes working groups and teams and defines their responsibilities; coordinates appropriate training; and provides for regular review, testing and audit of the BCP.
Security Officer works with the coordinator to ensure that all aspects of the BCP meet the security requirements of the organization. Business unit representatives provide input, and assist in performing and analyzing the results of the business impact analysis.
The BCP committee is commonly co-chaired by the executive sponsor and the coordinator. Business impact analysis The purpose of the BIA is to identify the organization's mandate and critical services or products; rank the order of priority of services or products for continuous delivery or rapid recovery; and identify internal and external impacts of disruptions.
Identify the mandate and critical aspects of an organization This step determines what goods or services it must be delivered. Information can be obtained from the mission statement of the organization, and legal requirements for delivering specific services and products.
Prioritize critical services or products Once the critical services or products are identified, they must be prioritized based on minimum acceptable delivery levels and the maximum period of time the service can be down before severe damage to the organization results.
To determine the ranking of critical services, information is required to determine impact of a disruption to service delivery, loss of revenue, additional expenses and intangible losses. Identify impacts of disruptions The impact of a disruption to a critical service or business product determines how long the organization could function without the service or product, and how long clients would accept its unavailability.
It will be necessary to determine the time period that a service or product could be unavailable before severe impact is felt. Identify areas of potential revenue loss To determine the loss of revenue, it is necessary to determine which processes and functions that support service or product delivery are involved with the creation of revenue.
If these processes and functions are not performed, is revenue lost? If services or goods cannot be provided, would the organization lose revenue? If so, how much revenue, and for what length of time? If clients cannot access certain services or products would they then to go to another provider, resulting in further loss of revenue?
Identify additional expenses If a business function or process is inoperable, how long would it take before additional expenses would start to add up? How long could the function be unavailable before extra personnel would have to be hired?
Would fines or penalties from breaches of legal responsibilities, agreements, or governmental regulations be an issue, and if so, what are the penalties? Identify intangible losses Estimates are required to determine the approximate cost of the loss of consumer and investor confidence, damage to reputation, loss of competitiveness, reduced market share, and violation of laws and regulations.
Loss of image or reputation is especially important for public institutions as they are often perceived as having higher standards.
Insurance requirements Since few organizations can afford to pay the full costs of a recovery; having insurance ensures that recovery is fully or partially financed.
When considering insurance options, decide what threats to cover.Strategic Information Systems Planning: A Review shorten the response cycle and even allow for economic evaluation of information system new management information systems and help an organization maximize the return on its information technology investment.
A portfolio of computer-based applications is identified that will. Management Information Systems (MIS) MIS Enterprise Resource Planning. Security Program Development, Risk Management, and Incident Response.
Pre-requisite: Admission to the MBA program. Project Management, Cloud computing, Enterprise Resource Planning, IT security, or business intelligence, the course will focus on two or three.
Following are the contents of MIS planning: MIS Goals and Objectives: It is necessary to develop the goal and objectives for the MIS which will support the business goals.
The MIS goals and objectives will consider management philosophy, policy constraints, Business risk, internal and external environment of the organization and business.
IT risk management is the application of risk management methods to information technology in order to manage IT risk, i.e.. The business risk associated with the use, ownership, operation, involvement, influence and adoption of IT within an enterprise or organization.
International Journal of Reviews in Computing for appropriate decision-making. MIS is a subset of the overall planning and control activities covering the application of humans, technologies, and procedures of the organization..
needs to reduce operating costs . The Planning Meeting provides the opportunity for the Command and General Staff to review and validate the operational plan as proposed by the Operations Section Chief.
Attendance is required for all Command and General Staff. Additional incident personnel may attend at the request of the Planning Section Chief or the Incident Commander.