Disaster recovery, business continuity planning critical to running a business

HARDLY a day goes by without news of a natural disaster, terrorist attack or other large scale disruptive incident occurring somewhere in the world. Luckily, Singapore is unlikely to experience a hurricane, or tropical storm of the same magnitude as faced by some of our less fortunate neighbours. However, problems such as localised flooding, power failures, fires, or a leaking pipe still have the capacity to stop a business in its tracks. For example, earlier this year a number of SMEs suffered millions of dollars in losses following a fire at Toa Payoh Industrial Park. So is your business ready to cope with the unexpected?

Business continuity and disaster preparedness are not just about IT security and systems but also about considering your business as a whole. The first step is to conduct a business impact analysis (BIA). Identify potential events that could negatively impact business operations, calculate the likelihood that they may occur, and quantify the impact that they could have on your business. For example, if your business is in an older heritage building or shophouse, it may be more prone to flooding or electrical faults. Now you can move on to crafting specific plans for risk mitigation, disaster response and continuity of operations.

Your employees are your most valuable asset so ensure their well-being. Communication during and following a business disruption presents challenges, so crafting a detailed employee safety and communication plan is crucial. Your plan should address safety issues and how essential information will be communicated to employees during and following the event. Your safety plan should match the specific needs of your organisation. It is also essential to test and update the communications plan periodically.