Business Continuity Management Systems
What is ISO 22301:2019 and business continuity management system?
The objective of a business continuity management system (abbreviated as BCMS) is to ensure continuity or recovery of business should it be disrupted
The BCMS comprises scope, risk assessment & evaluation, business continuity strategies, business continuity objectives, development planning, awareness & training, exercises & testing, monitoring & measurement, analysis & evaluation, review, and continual improvement. There may not be a single event of a disruption in your business, however, having effective continuity management systems implemented, means you are ready to tackle, should an incident occur.
ISO 22301 is internationally agreed-upon best practices that cover the whole lifecycle in regards to business continuity management.
It defines the capability of an organization at the strategic and tactical level to plan for and respond to incidents and disruptions in the business in order to continue at an acceptable pre-defined level. An organization is supposed to be prepared for the worst and take steps to improve its resilience.
Who is ISO 22301:2019 for?
The possible threats of disruption to a business are endless: some of them, for example, include natural disasters, cybersecurity breaches, breakdown in IT systems, unavailability of a key supplier, the most skilled staff leaving the organization etc.
Consequently, if not addressed appropriately, they’ll definitely disrupt and possibly lead to business failure.
ISO 22301 is internationally agreed-upon best practices and applies to all organizations, regardless of size, sector or nature of business.
ISO 22301 is useful for professionals dealing with corporate governance & risk, supply chain matters, audit, corporate social responsibility reports, regulatory bodies, and anyone else involved or interested in business continuity.
The benefits of ISO 22301:2019
The benefits include:
- Assurance to the stakeholders that the organization has proven systems in place for business continuity
- Improved organizational resilience through an in-depth understanding of critical issues and areas of vulnerability
- A detailed view of how an organization operates offers valuable insights that are in turn used for strategic planning, risk management, supply chain management, business transformation, and resource management.