Risk analysis is a technique to identify and assess factors that may jeopardize the success of a project or achieving a goal. This technique also helps to define preventive measures to reduce the probability of these factors from occurring and identify countermeasures to successfully deal with these constraints when they develop to avert possible negative effects on the competitiveness of the company. Reference class forecasting was developed to increase accuracy in risk analysis. this aspect can’t be denied in your business plan.
business continuity planning was created to prevent disruption to normal business activity. BCP is designed to protect critical business processes of failure / disaster natural or man-made and consequently the loss of capital in relation to the unavailability of normal business processes. BCP is a strategy to minimize the effects of interference and to enable the business process continues.
Disruptive event are any security breaches either intentional or not that cause businesses can not operate normally. BCP goal is to minimize the effects of disruptive events on the firm. BCP is the main goal is to reduce the risk of financial loss and enhance the ability of organizations in the recovery process as soon as possible of a disruptive event. BCP also help minimize the costs associated with events that interfere with and reduce the risks associated with it.
Business Continuity Plan needs to look at all areas of company critical information processing, including – but not limited to – the following things:
• LAN, WAN, and servers
• Telecommunications and data communications link
• Workstations and workspaces
• Applications, software, and data
• Media and archival storage
• The duties of the staff and production processes
The events that disrupt the Business Continuity Here’s a list of events that could disrupt business continuity that is classified at the source, due to natural or man-made. Examples of natural events that could affect business continuity is as follows: • Fire or explosion • Earthquakes, hurricanes, floods, fires and natural
Examples of events caused by humans that could affect business continuity as is the following:
• bombings, sabotage, or other intentional attack
• Failure of communications infrastructure
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