business continuity plan Archives - Foster Institute https://fosterinstitute.com/tag/business-continuity-plan/ Cybersecurity Experts Thu, 27 Jun 2013 06:00:57 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://fosterinstitute.com/wp-content/uploads/2021/02/Favicon.png business continuity plan Archives - Foster Institute https://fosterinstitute.com/tag/business-continuity-plan/ 32 32 Quickly Determine the Expense of a Disaster https://fosterinstitute.com/quickly-determine-the-expense-of-a-disaster/ Thu, 27 Jun 2013 06:00:57 +0000 https://fosterinstitute.com/blog//?p=1609 Executives and owners need to know how much to spend on their DRP disaster recovery plans. Shortcut the process like this: Gather managers from each department. Determine what impact a disruption would cause to your organization. Instead of exact figures, just use terms like hundreds, thousands, tens of thousands, millions, etc. of dollars. Lost income […]

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]]> Executives and owners need to know how much to spend on their DRP disaster recovery plans. Shortcut the process like this:

Gather managers from each department. Determine what impact a disruption would cause to your organization. Instead of exact figures, just use terms like hundreds, thousands, tens of thousands, millions, etc. of dollars.

Lost income is almost always a factor, usually because of the inability to produce and deliver your products and services. Will that cost you hundreds or millions of dollars if you are down “x” number of days, hours, or minutes?

Additionally, consider damage to your organization’s reputation.

Will you lose customers if you are unable to provide products and services in a timely manner?

How much will you spend on payroll even when workers are unable to produce?

Keep in mind insurance limitations.

There are so many ways to incur expenses when you are down. Use this quick method to get an idea of how much money you would lose. That will help you determine how much to invest in your disaster recovery and business continuity plans.

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