What is the connection between the continuity of business and risk management?
Risk continuity and risk management are two of the more important disciplines in business operations management. Experts on the continuity of business are in charge of planning disasters and ensure that operations continue after intervention in the disaster. Risk management experts are also responsible for preparing for disasters, but they also have many other obligations such as the insurance of insurance, minimization of the contract and legal liability and compensation of workers. The disciplines are very similar. In some organizations, the continuity of business and risk management is part of the same department.
In general, the continuity of business focuses on many different disasters that could disrupt the operation of the organization. After these threats for business operations, business experts in the field of business recovery then describe in detail the plans for recovery after a disaster if any of these disasters occurred. The aim is to continue business through a disaster or restart business operations as soon as possible after catastRofě.
Business recovery specialists are not just in charge of one device, because large entities can have devices across the country or even in the world. This means that these experts must take care of continuing operations in more than one place. It must deal with the recovery after the disaster in several places. If the organization also has a chain of suppliers and partners around the world, top -class business recovery experts deal with business recovery for each link in the chain.
Risk management experts are often accused of the same business recovery tasks. This is often the case where disasters' recovery experts are part of the Department of Risk Management. Other departments in the department process security and employees of staff compensation, purchases of real estate and victims, emerrgen reactions and employee benefits. For smaller entities may only have a risk management departmentEdno member. This professional would then be in charge of all these tasks of continuity of business and risk management.
However, larger national and international organizations could be considerable enough to have a separate department for business continuity and risk management. Depending on the company's business operations, there may be specialists in each individual department, such as IT IT staff in IT. Coordination between business continuity and risk management is still necessary. Management of corporate risks is the practice of supervision and management of all risks throughout the organization, no matter how big. Continuity of business and risk management could be a liability for business risk management.