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
Michael Herrera
Michael Herrera is the Chief Executive Officer (CEO) of MHA. In his role, Michael provides global leadership to the entire set of industry practices and horizontal capabilities within MHA. Under his leadership, MHA has become a leading provider of Business Continuity and Disaster Recovery services to organizations on a global level. He is also the founder of BCMMETRICS, a leading cloud based tool designed to assess business continuity compliance and residual risk. Michael is a well-known and sought after speaker on Business Continuity issues at local and national contingency planner chapter meetings and conferences. Prior to founding MHA, he was a Regional VP for Bank of America, where he was responsible for Business Continuity across the southwest region.
