Your organization created a business continuity plan (BCP) and heavily invested in an enterprise risk management (ERM) project. You have regular Business Continuity Management (BCM) steering committee meetings but you still ask yourself: will my strategy work when I need it to work?
According to a survey sponsored by the Hartford Financial Services Group, 81 percent of mid-size businesses in the U.S. never test their business continuity plans, jeopardizing the very strategy these plans were designed to support. Testing and exercising your business continuity plan is important to ensure its success. However, you also need to make sure the plan itself is relevant in a continuously changing business climate.
You and your BCM steering committee should constantly evolve and reevaluate your business continuity strategy in order to maintain its resilience and viability. This is the only way to certify the plan will yield a high degree of success when the time comes.