"For our original disaster recovery system using a SAN, we were doing everything at both sites. We were purchasing twice
as much equipment as we really needed. With VMware, I don't have to have the same equipment there. I can use my existing
server hardware there and bring in newer, higher performing servers here." -Gilbane Federal
This article is specifically written for any small to medium size business that wants to implement a continuity plan (CP).
The information that’s provided within follows the same methodologies used by large corporations. The only difference
you’ll find is that the requirements are scaled down, but not compromised. That is, the step-by-step process presented
here is realistic, achievable, affordable, workable, and one that meets the practical needs of a smaller type business.
The Federal Reserve, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the agencies)
are issuing this inter-agency Paper on Sound Practices to Strengthen the Resilience of the U. S. Financial System to advise
financial institutions on steps necessary to protect the financial system in light of the new risks posed by the post-September
11 environment. The sound practices build upon long-standing principles of business continuity planning and reflect actions
identified by industry members that will strengthen the overall resilience of the U.S. financial system in the event of a
The agencies have identified broad industry consensus on three business continuity objectives that have special importance
after September 11 for all financial firms. The agencies also have identified sound practices that focus on minimizing the
immediate systemic effects of a wide-scale disruption on critical financial markets. The sound practices focus on the appropriate
back-up capacity necessary for recovery and resumption of clearance and settlement activities for material open transactions
in wholesale financial markets. They do not address the recovery or resumption of trading operations or retail financial
services. The agencies are not recommending that firms move their primary offices, primary operating sites, or primary data
centers out of metropolitan locations, and understand that there are important business and internal control reasons for
financial firms to maintain processing sites near financial markets and their own headquarters.
The key purpose of Business Continuity Planning is to reduce the consequences of a disaster to acceptable levels. Although when and how a disaster will occur is not known, the fact that future disasters will happen is certain. How well (or poorly) the BCP is designed and implemented will determine response, recovery, resumption, and restoration.
Business Continuity Planning should be predicated on a realistic approach to the problems likely to be encountered during a major emergency or disaster. Hence, the following assumptions are made and should be used as general guidelines in such an event:
- An emergency or a disaster may occur at any time of the day or night, weekend, or holiday, with little or no warning.
- The succession of events in an emergency or disaster is not predictable; therefore, published operational plans should serve only as a guide and a checklist, and may require modifications in order to meet the requirements of an emergency.
- An emergency or a disaster may be declared if information indicates that such conditions are developing or probable.
- Disasters may be community-wide. Therefore it is necessary to plan for and carry out disaster response and short-term recovery operations in conjunction with local resources.
Contact us today and we will help you create a Business Continuity Plan that will save your business in the event of a disaster.