Formulating a business continuity plan—BCP
Produced in partnership with David Gilmore of DG Legal
Formulating a business continuity plan—BCP

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

  • Formulating a business continuity plan—BCP
  • Purpose of the BCP
  • BCP v disaster recovery plan
  • Steps in formulating a BCP
  • BCP stage 1—identify key members of staff
  • BCP stage 2—identify and evaluate the risks
  • BCP stage 3—analyse each potential interruption
  • BCP stage 4—implement the BCP
  • BCP stage 5—test the BCP
  • BCP stage 6—review the BCP
  • more

This Practice Note provides guidance on planning, drafting and implementing a business continuity plan (BCP).

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.

Steps in formulating a BCP

In order to develop a comprehensive and effective BCP, you should follow six key stages:

BCP stage 1 identify key members of staff and get their input
BCP stage 2 identify and evaluate the risk of interruptions to your business (including considering possible