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A business continuity plan puts in place a process that helps ensure your company can continue running after a major disruption or disaster. It’s important to regularly review your plan, but, time and resource, alongside the busy day-to-day running of your company, can make this challenging.
This blog aims to help by explaining the key times you should consider reviewing your business continuity plan. This should help make sure you’re fully prepared and can keep your company running should the worst happen.
Like various processes you should carry out in your business, such as risk assessments and your health and safety policy, it’s important to review your business continuity plan to make sure it is up to date, reliable and will work.
Risks to your business can change as it, your industry and the environment you operate in change too. This could include:
When it comes to reviewing your business continuity plan, the key times to do so are when key changes occur in your company. These are changes across your company’s operation and people who are key to your business. Following these changes, you will probably need to add new and important information to the plan.
You should aim to review your plan at least once a year, or every six months, if possible. Setting time aside to do this can help you identify new risks. It’s a good idea to plan ahead and keep a date in your diary, so you’re prepared for when the time comes round to conduct your review.
You should also review your business continuity plan if processes in the plan, itself, change. For instance, the emergency site you plan to work from and recover your business is no longer accessible. Or a key member of your business continuity planning team leaves your company.
Once reviewed and updated, you should redistribute your plan to the key people in your company and make sure it’s given to those employees in your business continuity planning team. You should also make them aware of the changes you’ve made, so they’re prepared for when the plan has to be put into action.
You should save your updated plan in a secure location and make sure people in your business continuity team know where it is located. You should also discard any outdated versions of the plan you’ve saved.
Business continuity is crucial when running a company, from creating a plan to putting it into action to make sure it works. You can learn more about this in our guide about how to create a business continuity plan.
At FSB, we offer our members services to help make sure they have a good plan in place to continue running their businesses should the worst happen. This includes:
To find out more about these key services, please visit our FSB Business Continuity web page.