Over the next several weeks we will be sharing the Top 100 Tips for BCP Success.
This week, Top 5 Tips for Budget:
1. Regular line item on corporate budget – Make Business Continuity part of the cost of doing business. This can also help make BCP an integral part of business planning and procedures.
2. Requirements build the budget – The Roadmap, BIA and Recovery Strategy requirements drive the budget.
3. Regularly review for increases, revisions, etc. – Business needs and requirements change; keeping the BCP budget in line with those changes can help ensure results are optimal.
4. Spending focused on recovery capability – Steer budget to resources that will heighten the maturity and sophistication of your recovery capability.
5. Use budget comparisons carefully – Even companies within the same industry vary greatly on their business needs. Use comparisons as a reference instead of a guideline.
Make sure you are spending what is needed to provide the optimal level of recoverability.
Next post… Top 100 Tips for Business Impact Analysis