RISK MANAGEMENT

Business continuity is the capability of an organization to continue the delivery of products and services within acceptable time frames at predefined capacity during a disruption.

ISO 22301:2019 specifies the requirements for setting up and managing an effective Business Continuity Management System (BCMS). It emphasizes on organizational resilience in order to reduce the likelihood of the occurrence, to prepare for, respond to and recover from disruptions, when they arise. Such disruptions may indicatively include a physical disaster, an IT situation, or a financial crisis, thus ensuring the continuity of delivery of products or services, at predefined levels, following the disruptive incident.

This standard can be applied to any organization regardless of its size and activity that wishes to demonstrate its effectiveness in BCM to its clients, partners, suppliers or shareholders.

Organizations such as banks, telecommunication providers, major IT companies, infrastructure management companies, seek improvement in organizational resilience by developing procedures and business continuity tools and therefore require the same from their supply chain.

In general, it is applicable to organizations of all sizes seeking to establish a robust business continuity plan.

A Business Continuity Management System:

Helps the organization identify potential threats and impacts to business operation
Determines the economic impacts of the organization in the event of a disruptive incident, through the implementation of a Business Impact Analysis (BIA)
Helps the organization set up a Business Continuity strategy
Enables the organization to set up a Disaster Recovery Plan (DRP), specifying the mechanisms to be triggered off in the case of a disruption
Provides the organization with a competitive advantage, especially in activities where continuity and resilience are decisive criteria

BENEFITS OF ISO 22301:2019 IMPLEMENTATION AND CERTIFICATION

Provided that the Certification Audit of the organization’s Business Continuity Management System is successful, the Certificate may be issued shortly. The ISO 22301:2019 certificate is valid for three years. During this period, two annual surveillance audits must take place.

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