1. Identify/analyze critical functions within your business.
This will allow for preparation of resource requirements & can be leveraged through prebuilt, configurable templates & scoring structures.
2. Focus on risks with severe or even catastrophic consequences.
These risks can be prioritized by setting global risk tolerances and risk appetite so you know which ones fall farthest out of that range.
3. Create specific strategies, also known as mitigation activities, to protect the critical components identified in step 1.
Maintain these systems through automated email notifications, alerts & reminders.
4. Test the plan before it’s actually needed.
Design testing with custom results & manage key metrics, indicators & financial scenarios.
5. Update, review, and change the plan as is needed.
Use dashboards, analysis, and reports to uncover challenges & update summaries/response action plans.
