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istm 655 > Business Continuity Plan > Flashcards

Business Continuity Plan Flashcards

1
Q

Define Business Continuity

A

preserving critical business functions in the face of a disaster
provision for an event or circumstance that is possible but cannot be predicted with certainty
“the capability of the organization to continue delivery of products or services at acceptable predefined levels following a disruptive event”

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2
Q

If done well, the business continues to __________ during adverse situations and deliver a _________ recovery

A

operate, faster

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3
Q

what is the goal of business continuity

A

minimize the effects of outages and disruptions on business operations

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4
Q

what do the practices of business continuity enable an organization to do

A
  • get back on its feet after problems occur
  • reduce the risk of data loss and reputational harm
  • improve operations while decreasing the chance of emergencies
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5
Q

define resiliency

A

ensuring continuity - not only of the technology but the entire organization and all procedures

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6
Q

Resiliency has become the watchword for organizations facing an array of threats, from _________ _______ to the latest round of ______ ______

A

natural disasters, cyber attacks

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7
Q

when an outage occurs about how many are classified as severe or serious

A

a fifth
- there were big financial, reputational, and other consequences

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8
Q

List possible examples of events

A
  • Epidemic/pandemic
  • Earthquake
  • Fire
  • Flood
  • cyber attack
  • Sabotage (insider or external threat)
  • Hurricane or other major storm
  • Power outage
  • Water outage (supply interruption, contamination)
  • Telecomms outage
  • IT outage
  • Terrorism/Piracy
  • War/civil disorder
  • Theft (insider or external threat, vital information or material)
  • Random failure of mission-critical systems
  • Single point dependency
  • Supplier failure
  • Data corruption
  • Misconfiguration
  • Fiber cut
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9
Q

List possible examples of events

A
  • Epidemic/pandemic
  • Earthquake
  • Fire
  • Flood
  • cyber attack
  • Sabotage (insider or external threat)
  • Hurricane or other major storm
  • Power outage
  • Water outage (supply interruption, contamination)
  • Telecomms outage
  • IT outage
  • Terrorism/Piracy
  • War/civil disorder
  • Theft (insider or external threat, vital information or material)
  • Random failure of mission-critical systems
  • Single point dependency
  • Supplier failure
  • Data corruption
  • Misconfiguration
  • Fiber cut
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10
Q

what are the 5 things BCM ensures effectiveness in?

A
  1. Identifying operational risks
  2. Implementing mitigating controls
  3. Responding to disruptive events.
  4. Recovering operations
  5. Conducting a postmortem
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11
Q

what is the origin of BCM?

A

evolved from IT disaster recovery in the 1990s
caused by 24/7 delivery
globalization
increased number of natural disasters
spread of medical viruses, etc

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12
Q

Non-IT aspects are more challenging b/c they are _________-oriented and _________-oriented

A

people, process

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13
Q

list 3 similarities in BC and DR

A
  1. both are proactive in minimizing effects of a catastrophe
  2. both can be used to in a range of events
  3. both require regular review
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14
Q

How is BC different from DR?

A
  • keeping business operational during a disaster
  • maintaining operations
    goal: limit operational downtime
  • focuses on keeping the lights on and the business open in some capacity
  • focused on the entire business
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15
Q

How is DR different from BC

A
  • restoring data access and IT infrastructure after a disaster
  • creating additional employee safety measures (fire drills)
    goal: limit abnormal or inefficient system function
  • focuses on getting operations back to normal
  • just focused on IT/data
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16
Q

list the 5 steps for business continuity

A
  1. risk assessment and analysis
  2. business impact analysis
  3. developing a BCM plan
  4. testing and maintaining the BCM plan
  5. BCM and crisis management response
17
Q

What are the fundamental components of a BCP (10) ?

A
  1. Planning, testing, and recovery of these vital components are key to building a resilient organization: 
  2. Workspace Recovery
  3. Cyber Resilience 
  4. Data Backup, Replication, and Recovery 
  5. Personnel 
  6. Third-Party Service Providers 
  7. Telecommunications 
  8. Power 
  9. Change Management 
  10. Communication and Notifications
18
Q

List the dimensions of each disaster (8)

A
  1. description
  2. potential impact
  3. risk factors
  4. warning times
  5. technology continuity
  6. people continuity
  7. process continuity
  8. insurance considerations
19
Q

what are the 7 additional key principles of business continuity

A
  1. get employees involved
  2. keep customers in the loop
  3. collaborate with suppliers
  4. periodically test and update BC plans
  5. factor in compliance
  6. examine insurance options carefully
  7. data backup is not enough
20
Q

5 steps to evaluate your BCP Holistically

A
  1. map your vendor risk landscape
  2. distinguish among diff shades of red
  3. be specific
  4. trust but verify
  5. react
20
Q

5 steps to evaluate your BCP Holistically

A
  1. map your vendor risk landscape - the journey to an integrated responsive and proactive business continuity management program that extends beyond company walls begins with a thorough business impact analysis (BIA)
  2. distinguish among diff shades of red
  3. be specific
  4. trust but verify
  5. react
21
Q

List Business Impact Analysis (BIA) highlights

A
  • critical technology
  • personnel needs and key workspace needs
  • provides the first piece of the vendor resiliency and recoverability puzzle
22
Q

What is the key output of BIA

A

set of impact and resiliency strategy details about the organizations critical vendors and includes
- mapping of business processes to specific critical vendors
- impacts over time if those vendors services are unavailable
- analysis of whether alternate vendors exist, is so their ability to substitute for the primary vendor

23
Q

What are the 3 companions to the BIA

A
  1. interruption risk assessment (RA)
  2. high-level vendor interruption risk assessment (VIRA)
  3. the identification of a recovery strategy
24
Q

List the 9 critical risk variables

A
  1. revenue and inventory impact from loss
  2. proximity of the vendor and logistics
  3. capacity utilization
  4. SLA and right to audit
  5. potential impact on service/product quality if vendor change is performed rapidly
  6. labor, country, geopolitical risks
  7. level of vendor integration with your technology
  8. correlated risk
  9. regulatory issues and cross border issues

istm 655 (5 decks)

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