Explained how a business can analyze the return on investment of a disaster recovery plan
The organization should do a Business Impact Analysis (BIA) which should calculate what might happen if there was an interruption of a business function and what information is needed to develop a recovery strategy. When doing a risk management test a potential lost scenarios should be identified. There are many types of scenarios to consider doing a disaster, like loss of goods from your suppliers, delay in delivery, and loss of power and personnel, which could cost a great lost to your business.
A BIA should identify and evaluate the bearing of a disaster on your business, for the basis investment in recovery, as well as investment in prevention. It can show operational and financial impact resulting from the disruption of business function and processes. Some of the thing to consider are ; loss of sales and income, delayed sales and income, increased expenses, like overtime, outsourcing and expediting cost, regulatory fines, customer dissatisfaction or defection and delay of new business plans. These are some of the thing that should be address in a …show more content…
KIMCO deals mainly with property management with malls, luckily for them none of their property did not receive any major damage. (Freeman, 2012). This was due to their disaster recovery plan, and the training and preparation for the storm. Before the storm hit, they had a meeting, on what need to be done, thing like tiring down the trash canes, moving minor items inside to vacate location for not to blow away or cost more damage, tire down what need to be, remove lose item off the roofs, contact list of contractors, move operation to another location outside of the storm range, and have emergency staff on standby for after storm action, check generator to make sure they work and full of
The organization should do a Business Impact Analysis (BIA) which should calculate what might happen if there was an interruption of a business function and what information is needed to develop a recovery strategy. When doing a risk management test a potential lost scenarios should be identified. There are many types of scenarios to consider doing a disaster, like loss of goods from your suppliers, delay in delivery, and loss of power and personnel, which could cost a great lost to your business.
A BIA should identify and evaluate the bearing of a disaster on your business, for the basis investment in recovery, as well as investment in prevention. It can show operational and financial impact resulting from the disruption of business function and processes. Some of the thing to consider are ; loss of sales and income, delayed sales and income, increased expenses, like overtime, outsourcing and expediting cost, regulatory fines, customer dissatisfaction or defection and delay of new business plans. These are some of the thing that should be address in a …show more content…
KIMCO deals mainly with property management with malls, luckily for them none of their property did not receive any major damage. (Freeman, 2012). This was due to their disaster recovery plan, and the training and preparation for the storm. Before the storm hit, they had a meeting, on what need to be done, thing like tiring down the trash canes, moving minor items inside to vacate location for not to blow away or cost more damage, tire down what need to be, remove lose item off the roofs, contact list of contractors, move operation to another location outside of the storm range, and have emergency staff on standby for after storm action, check generator to make sure they work and full of