How business continuity plans rare regulated – Benoit Racette Services-conseils inc.

On a more general note for the end of the year, in this article we explain why it is important to follow the standards and best practices in the process of establishing a business continuity plan (BCP). We also provide some examples of these standards so that you can refer to them if needed. As the objective of this article is to raise your awareness, we will limit ourselves to a few brief explanations.

Legal and compliance obligations

For any organization, it is essential to base a business continuity approach on specific standards and regulations as well as recognized best practices. To this end, a mapping of the legal, compliance, regulatory and self-regulatory business continuity obligations of the industry in which the organization operates should be completed. It should also include all other “legal” BCP standards to which it is subject, including contractual obligations with its customers and suppliers.

Most of the time, an organization operating in a regulated sector may be subject to strict laws and obligations in terms of business continuity, crisis management and emergency measures. Examples include the financial industry, healthcare, petrochemicals, aviation, public emergency services, etc. However, for companies that do not operate in a regulated industry with BCP constraints, it can be more difficult to navigate all the other regulations and standards that exist.

Current standards

In general, industries rely on good practices recognized by reputable organizations, but also by secondary organizations that promote additional approaches and benchmarks. There are a number of national and international standards and regulations governing BCPs, which are referred to as “good practices” when they are mentioned.

As such, there are several resources and organizations that define best practices in BCP. These organizations conduct research, studies, analyses and surveys, provide specialized training to educate professionals and grant internationally recognized certifications to organizations and specialists once the evaluation processes are completed. These certifications are important to both companies and professionals. Here’s why:

When held by an expert, they assure the public and organizations that they have completed all the recognized training, have the necessary experience and keep up to date through a rigorous follow-up process.
When a certification is obtained by a company, it demonstrates to the entire ecosystem that its employees, systems, services, products and/or processes meet recognized standards or benchmarks.

Most common BCP best practices and standards

Here are some examples of international organizations that have been recognized for many years for their good practices, norms and standards. Several regulatory, self-regulatory and legislative bodies rely on these:

Other available resources*

In addition to the four (4) sources mentioned in the previous paragraph, we invite you to refer to the following organizations for more information on BCP standards and best practices as well as additional aspects to consider in the context of BCP:

* Partial list

Conclusion

Do you need an expert to help you set up your business continuity plan (BCP), while ensuring that you comply with the standards and regulations applicable to your industry? Benoit Racette Services-conseils inc. can assist you in this process. We offer a personalized approach in line with your business strategy, in addition to innovative solutions based on best practices. Contact us now: [email protected].