Save valuable time with the risk2value BCM solution and benefit from a professional, automated tool for your Business Continuity Management.
Highlights of the risk2value
With the risk2value BCM solution, you bank on state-of-the-art technology to efficiently map your Business Continuity Management processes.
Business Impact Analysis (BIA)
The maximum tolerated downtime is automatically calculated for the respective critical process using information from the business impact analysis. Since important data and insights from the BIA are available as an on-demand report, they can be used ad hoc for executive briefings.
Ready-to-use threat and control catalogs
The BCM solution contains pre-built, ready-to-use catalogs to analyze existing risks in line with internationally recognized standards. A threat catalog based on the BSI IT Grundschutz methodology as well as a control catalog compliant with ISO 22301:2019 are currently available. Both can be used out of the box or customized by an administrator.
The information contained in the business impact analysis is visualized in a dashboard to effectively prioritize the steps for actions regarding strategies and contingency measures. The data from the risk analysis is clearly displayed. The dashboard highlights risks with a high probability of occurrence and impact of damage for processes with a critical downtime to facilitate risk tracking and handling.
Extending the business continuity plan through a BIC link
The various steps of the respective business continuity plans can be documented in the BCM solution and even extended using BIC Process Design and BIC Process Execution by GBTEC. This provides vast capabilities to model, analyze, communicate, manage and transform the individual process steps directly into executable processes.
The information from the business impact analysis is available as printable report. The business continuity plans can also be accessed by all involved parties to improve usability and, ultimately, resume operations quickly and restore business continuity efficiently in times of crisis.
The contingency exercises in risk2value ensure that your contingency measures stay current and effective. This is an important instrument to sensitize and strengthen employee awareness for emergency scenarios.
risk2value BCM solution: The business side
Business continuity management (BCM) is a holistic management process for planning and preparing preventative measures to maintain critical business processes in the case of disruptive internal or external events. Business continuity management, therefore, strives to continue or reinstate business activities while minimizing the financial, legal and/or reputational damages. The risk2value BCM solution, which was developed in line with internationally recognized industry standards such as ISO/IEC 22301:2019 and BSI Standard 100-4, follows these basic steps:
Identifying critical business processes.
A business impact analysis is performed to identify all critical business processes that must be maintained in the case of disruption. All critical information about each individual process, as well as its respective process chains and dependencies to resources, must be documented. A damage analysis is then conducted to determine at which point the failure of a business process will have reached the company’s tolerance limit. The information in the business impact analysis is used to derive the maximum tolerated downtime for this process and, subsequently, provide further recovery parameters such as the maximum tolerated data loss and recovery time.
A risk analysis assesses which failure scenarios could cause the discontinuation of critical business processes as well as their probability of occurrence and anticipated extent of damages. The BSI IT Grundschutz threat catalog contained in the risk2value BCM solution provides a solid starting point for identifying such risks. Scenarios are used to group and analyze risks and the effects they can have in emergency situations. The focus here lies on scenarios with high damages and a realistic probability of occurrence.
Identifying relevant threats.
Developing strategies to ensure business continuity.
The insights gained from the business impact analysis and risk analysis lay the foundation for continuity strategies. Each risk that has been identified and accessed must now be accepted, transferred, avoided or reduced – decisions, which shape the continuity strategy for protecting critical business processes.
The previous steps merge into drafts for concrete contingency plans for possible crises or disruptions. Detailed steps, procedures and responsibilities are clearly documented and made available to employees.
Creating contingency plans.
Improving BCM as an ongoing process.
Sensibility and awareness exercises that help prepare employees for emergencies or times of crisis are important instruments in business continuity and can be categorized as contingency measures in the BCM. Contingency exercises also provide an opportunity for detecting potential non-conformities, which are then documented in the risk2value BCM solution as findings and addressed accordingly. Interested parties can view the BCM objectives and guidelines, safeguarded from revisions, directly in the system. The efficacy of the implemented measures and plans are monitored, managed, updated and optimized in an ongoing cycle.
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