Businesses today are faced with the increasing challenge of managing complex operations across multiple entities as they interface & integrate partners, suppliers, and even competitors into an extended enterprise. The need for an effective risk reduction and business continuity plan has never been so evident.
The IDX BCP methodology is divided into four stages – Analyze, Develop, Implement, and Continuous Improvement/Quality Assurance.
The IDX methodology is field-tested in different environments, utilizes well-documented best practices, and has been continuously improved.
Business Continuity is not a process with a limited life and a finite end, but rather an ongoing, living eco-system. To ensure the continued viability of any business continuity plan/program, management needs to understand:
Develop strategies for attaining the organization’s operational continuity goals. With IDX’s approach, the Business Continuity program is built to anticipate outages and failures (disasters, scandals, pandemics, etc) and to be prepared to mitigate their effects and accelerate the recovery.
Having a well-documented understanding of the roles, responsibilities, and actions that personnel will take when a serious interruption of operations occurs is key to preparedness.
Strategies developed in the previous phase typically require the acquisition of resources, negotiation of contracts, implementation of software, etc. While this is usually a customer responsibility, IDX professionals do assist in the implementation process.
Testing, training, and maintenance are critical components of any Business Continuity program. We assist our customers in putting governance procedures in place during the various phases of the implementation process.
Business Continuity Management is regarded as part of IDX Advisory Services practice and based on IDX’s BCM methodology, which is designed on a modular framework that allows us to tailor our services based on your specific business needs.
The business continuity plan becomes a source reference at the time of a business continuity event or crisis and the blueprint for strategy and tactics to deal with the event or crisis.
The components of business continuity are: