How business continuity team can gain management buy-in
For business continuity team to be effective it must obtain a buy in from management and other stakeholders. Most organizations that have successfully obtained management buy-in have done so using one of the following five methods:
1. Internal Policy: An internal business continuity policy, reflecting the risk appetite of the organization,is useful in driving responsibility and accountability for BCM, as well as the scope of the planning effort.
2. Monitor the Regulatory Landscape: Regulatory requirements remain the primary driver for business continuity. A number of regulatory requirements mandate senior management participation in the planning process.
3. Lessons Learned From Other Companies: Business continuity actions taken by other companies (of a like size or in the same industry) often drive action or increase maturity in others. This is particularly the case if an organization successfully recovered from a perceived catastrophic failure (although theopposite is also true).
4. Publicize Successes and the Corresponding Value: Business continuity programs can act as a competitive differentiator (internally and externally) and a source of positive public relations. Customers can feel confident in the organization’s ability to respond effectively to a wide variety of crises, and employees can be assured they work for a company that cares about their well-being.
5. Insurance Return on Investment: In certain circumstances, a tested, up-to-date business continuity program can have an effect on business interruption insurance premiums.
Business continuity team need to consider risk assessments done on the company in their work.