By Rocky Vienna
According to the U.S. government, up to 40% of businesses fail to reopen following a disaster. Recent natural disasters such as Hurricane Sandy have underscored the need for Disaster Recovery (DR) and Business Continuity (BC) planning. Here's what you need to know.
Before we delve into the components of BC planning, let's clearly define the difference between Disaster Recovery and Business Continuity. Disaster Recovery refers to the IT plan that assumes that an event (usually physical in nature, such as an earthquake or fire) has occurred, resulting in significant disruption to business computer systems. A Business Continuity Plan is the set of business procedures that enable business organizations to respond to an event that has disabled the company's business systems in part or in whole. Some events, such as the sudden loss of a key service vendor or supplier, do not require DR but still need to be considered for BC.