Business Continuity Tip of the Month   -  November 2003

Time is money

A truism if ever there was one. In particular, downtime costs. And the costs are not necessarily purely financial. The cost to your reputation could be equally damaging – in some cases even more so.

But how much does downtime actually cost, and how much should we therefore be investing in risk mitigation measures and contingency arrangements?

A business impact analysis will provide the answers to the question "how much do we stand to lose?". In addition it will identify critical resources and recovery/continuity requirements over time. As a result, you’ll be in a position to make informed decisions on how much you should invest in solutions, and develop an appropriate business continuity strategy for your business, rather than taking the "finger in the air" approach.

 


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