Business continuity plan—BCP—a practical guide
Produced in partnership with David Gilmore of DG Legal
Business continuity plan—BCP—a practical guide

The following Practice Compliance practice note Produced in partnership with David Gilmore of DG Legal provides comprehensive and up to date legal information covering:

  • Business continuity plan—BCP—a practical guide
  • What is a BCP?
  • Purpose of the BCP
  • BCP v disaster recovery plan
  • Regulatory requirements
  • Lexcel
  • ISO 22301
  • Formulating a BCP
  • Identify key members of staff
  • Identify and evaluate the risks
  • More...

This Practice Note explains what a business continuity plan (BCP) is and the regulatory requirements in relation to BCPs, and provides guidance on formulating a BCP.

What is a BCP?

A BCP is a document setting out how the organisation will manage a negative event that could threaten the continuation of its business.

Purpose of the BCP

The BCP is an important part of the overall risk management framework for any organisation. It helps ensure the business is able to survive a critical event and the organisation is able to meet its obligations to clients or customers, regulators and other stakeholders.

The BCP identifies the potential risks and/or interruptions to the business and documents the organisation’s systems or procedures to:

  1. minimise the threat of damage to the business

  2. respond to a business interruption, and

  3. recover from a business interruption

BCP v disaster recovery plan

A disaster recovery plan usually focuses on the IT and data recovery of the business such as backup systems and additional servers whereas a BCP aims to address all the areas necessary to keep the business continuing. The two plans are interlinked.

Regulatory requirements

Lexcel

The Lexcel Practice Management Standard imposes certain requirements in relation to business continuity planning. These should be considered compulsory for firms or in-house departments that have or are working towards Lexcel accreditation; they are not compulsory for others although they provide an indicator of

Popular documents