How important is it to develop a Business Continuity Model (BCM) Essay

How important is it to develop a Business Continuity Model (BCM) strategy Critically assess the three phases of Business Contin - Essay Example However, there are other systems or business continuity models that are more elaborate. For the Institute of Internal Auditors, business continuity management is a â€Å"process by which an organisation prepares for future incidents that could jeopardise the organisation’s core mission and its long-term viability† (2008, p. 3). Some of the incidents that can affect an organisation include fires, earthquakes, and pandemics (Institute of Internal Auditors 2008, p. 3). Meanwhile, the key components of business continuity management are management support, risk assessment and risk mitigation, business impact analysis, business recovery and continuity strategy, awareness and training, exercises and drill, and maintenance (Institute of Internal Auditors 2008, p. 3). For business continuity strategies, the Institute of Internal Auditors (2008, p. 3) has identified that the business continuity strategies that can be adopted include the following 1. Manual work processes when co mputer systems are down; 2. Outsourcing when work can be performed by external companies, competitors, or secondary vendors; 3. Recovery solutions for data; 4. Employment of alternative staffing or mobilisation of other staff members who can perform certain job functions; and 5. Use of alternative facilities. In contrast, the Department of Health of the United Kingdom has a more proactive perspective to business continuity. For the Department of Health of the United Kingdom (2011), the objective of business continuity management is to â€Å"counteract interruptions to business activities and to protect critical business processes from the effects of major failures or disasters†. Business continuity management covers â€Å"controls to identify and reduce risks, limit the consequences of damaging incidents, and ensure the timely resumption of essential operations† (UK Department of Health 2011). The business continuity model adopted by the United Kingdom Deparment of Hea lth is a 10-point model consisting of the following: 1. Project initiation and management; 2. Risks evaluation and control; 3. Business impact analysis; 4. Developing business continuity strategies; 5. Developing and implementing procedures for emergency response and operations; 6. Developing and implementing business continuity plans; 7. Building awareness and training programs; 8. Maintaining and exercising business continuity plans; 9. Formulating public relations and crisis co-ordination plans and response; and 10. Coordination with authorities. Forrester Research (2006, p. 2) defined business continuity mainly in terms of workforce continuity and defined it as â€Å"a strategy that provides for connecting a dispersed workforce to the applications, data, and communications they need in instances where pandemics, strikes, natural disasters, or other events prevent the workforce from reaching a corporate facility†. For Forrester Research (2006, p. 3-4), just like Tammineedi (2010), business continuity involves three phases: business impact analysis, local threat assessment, and business continuity plan development and maintenance. In the Forrester Research’s first phase or business impact analysis, the enterprise must identify the most critical business operations and resources (2006, p. 3). According to Forrester Research (2006, p. 3), the critical resources cover information technology, human resources, business partners,