RISK MANAGEMENT
Business Continuity Plan
The objective of a Business Continuity Plan is to coordinate the recovery of critical functions affected due the occurrence of an event that caused partial or total interruption of the activities. The impact may have short, medium or long duration
An effective Business Continuity Plan should consider:
- Fire/ Explosion
- Natural disaster as flooding, tornados, adverse severe weather
- Sabotage, terrorisms, vandalism
- Interruption of critical suppliers (e.g. raw materials, packaging etc.)
- IT interruption or cyber attacks
- Product contamination or lack of quality, including recall
- Environmental issues involving regulators
- Health issues that can be local, regional or global
Prepared companies will have a fast recovery to normal functions, with less impact in the business.