Critical elements of a Business Continuity Plan

Following are the key elements of a Business Continuity Plan:

Plan of Communication
A contact list should be prepared to indicate who should be called and for what purpose. Normally the contact list includes names of stake holders, employees, customers, suppliers, software providers, property managers, etc.

Proper Insurance Coverage
It is advisable to go for business income interruption policy coverage. There can be possibilities of upstream and downstream losses. On site injury to staff and clients should also insured along with the goods of your customers. The business premises also need to be adequately insured.

List of Inventory
A list of inventory and other assets should be maintained. The list should be comprehensive to include the entire stock, ready, in production, raw materials, etc.

Business Recovery
Prepare a business recovery plan. The plan should be comprehensive and cover all aspects, such as whom to contact, how to rebuild, how to procure alternate machinery, how to seek help from business associates, etc. In times of disaster, pre-approved engineers are in demand and one can go for out of town engineers for rebuilding.

Ensure that your data is backed up, preferably offsite.  If it is kept as an online data back up, then you will be able to access it from anywhere at any time.

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