VIEWS: 5 PAGES: 3 CATEGORY: Business & Economics POSTED ON: 5/22/2010
Money managers, capital market organizations and other parts of the national market system are expected to perform following a disaster because reputation and stability is key to maintaining customer confidence and national economic stability. In this case disaster planning is not an option but a requirement. Managers should rank disaster risks. Using low, medium and high to categorize and rank risks can provide focus and simplify the process. Once a disaster occurs, there are many issues that need to be addressed. Among these are: 1. identifying what is affected, 2. communicating, 3. establishing critical operations, and 4. recovering all operations. The five-step business continuity process followed by RSM McGladrey is very effective in providing the guidance and direction through the development effort. The five steps in this process are: 1. Initiate program. 2. Analyze operations. 3. Determine strategy. 4. Plan development. 5. Implement program.
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