Written by Robert Harrop
CIO Strategic Advisor
Hiring a professional company to develop a Business Impact Analysis (BIA), Business Continuity Plan (BCP), and Disaster Recovery Plan (DRP) offers several advantages over building these plans in-house. While in-house development may seem more cost-effective, it can be more time-consuming, require additional training and resources, and may result in a less comprehensive plan. Here are some of the benefits of hiring a professional company to develop these plans:
Expertise
Professional companies have specialized expertise and knowledge in BIA, BCP, and DRP development. They have experience working with different organizations across various industries, and they can provide valuable insights into what works and what does not. They understand the latest best practices, standards, and regulations, ensuring that your organization's plan is comprehensive and effective.
Reduced Risk of Error
Developing BIA, BCP, and DRP plans require a considerable amount of attention to detail, and even a small error can have serious consequences. Professional companies have robust processes and methodologies in place to ensure that each step of the planning process is executed accurately. They have the necessary tools, techniques, and expertise to identify risks, develop strategies to mitigate those risks, and test the plans thoroughly.
Faster Time to Implementation
Developing a BIA, BCP, and DRP in-house can take time, particularly if the organization does not have dedicated staff for this task. This can result in delays that leave the organization vulnerable to risks. Professional companies have dedicated teams and resources to develop these plans, and they can do so quickly and efficiently, helping to reduce the risk of disruption to your business.
Improved Compliance
Professional companies have in-depth knowledge of regulatory requirements and can help ensure that your organization's plan complies with these requirements. This is particularly important for organizations operating in highly regulated industries, such as healthcare or finance. Ensuring compliance with regulatory requirements can help reduce the risk of legal and financial penalties.
Cost-Effective
While hiring a professional company to develop a BIA, BCP, and DRP may seem costly at first, it can actually be cost-effective in the long run. Professional companies have established processes, tools, and methodologies, allowing them to develop these plans more efficiently than an in-house team. Additionally, they provide ongoing maintenance, updates, and testing to ensure that the plan remains effective, reducing the risk of disruption to your business.
In conclusion, hiring a professional company to develop a BIA, BCP, and DRP can provide significant benefits over in-house development. These benefits include specialized expertise, reduced risk of error, faster time to implementation, improved compliance, and cost-effectiveness. By investing in professional BIA, BCP, and DRP development, organizations can ensure that they are well-prepared to respond to any potential disruptions and minimize the impact on their business operations.