A business continuity plan is a written document that summarizes steps to take in the event of a disaster (manmade or natural), assessing the business’ ability to recover from the loss event and subsequent business interruption. It is a hedging tool against the impact of a disruption on an organization.
The plan also includes estimated recoveries for loss of business income due to:
- Business locations
- Key suppliers
- Adjacent buildings
- Key objects (such as bridges, highways), and utility interruptions
The BCP outlines the decision-making framework and advanced arrangements and procedures that enable an organization to maintain an acceptable level of operations in the event of a disruption.