Usually, banks and venture capital firms make the existence of a viable business plan a prerequisite to the investment of funds in a business. It should also provide at least an overview of the industry of which the business will be a part, and how it will distinguish itself from its potential competitors. Financial Projections A complete business plan must also include a set of financial projections for the business. These forward-looking projected financial statements are often called pro-forma financial statements or simply the " pro-formas.
Checklists and flow diagrams Schedule for reviewing, testing and updating the plan In the book Business Continuity and Disaster Recovery Planning for IT Professionals, Susan Snedaker recommends asking the following questions: How would the department function if desktops, laptops, servers, email and internet access were unavailable?
What single points of failure exist? What risk controls or risk management systems are currently in place? What are the critical outsourced relationships and dependencies?
|Business development - Wikipedia||Production or Manufacturing Every manufacturing business has a production process - the way it goes about fabricating a raw or component material and creating an item with greater usefulness or desirability.|
During a disruption, what workarounds are there for key business processes? What is the minimum number of staff needed and what functions would they need to carry out?
What are the key skills, knowledge or expertise needed to recover? What critical security or operational controls are needed if systems are down?
Business continuity planning steps The business continuity planning process contains several steps, including: Initiating the project Information-gathering phase, featuring business impact analysis BIA and risk assessment RA Plan development Plan testing, maintenance and updating Once the business has decided to undertake the planning process, the BIA and RA help to collect important data.
The BIA pinpoints the mission-critical functions that must continue during a crisis and the resources needed to maintain those operations. The RA details the potential internal and external risks and threats, the likelihood of them happening and the possible damage they can cause.
The next step determines the best ways to deal with the risks and threats outlined in the BIA and RA, and how to limit damage from an event.
A successful business continuity plan defines step-by-step procedures for response. The BCP should not be overly complex and does not need to be hundreds of pages long; it should contain just the right amount of information to keep the business running.
For a small business, especially, a one-page plan with all the necessary details can be more helpful than a long one that is overwhelming and difficult to use.
Those details should include the minimum resources needed for business continuance, the locations where that may take place, the personnel needed to accomplish it and potential costs. The BCP should be current and accurate, which can be achieved through regular testing and maintenance.
A business continuity plan test can be as simple as talking through the plan and as complex as a full run-through of what will happen in the event of a business disruption.
The test can be planned well in advance or it can be more spur-of-the-moment to better simulate an unplanned event. If issues arise during testing, the plan should be corrected accordingly during the maintenance phase.
Maintenance also includes a review of the critical functions outlined in the BIA and the risks described in the RA, as well as plan updating if necessary. A business continuity plan is a living document and should not sit on the shelf waiting for a crisis. It needs to be continually improved and staff should be kept up to date through regular educational awareness and testing activities.Critical Success Factors for Implementing Business Intelligence Systems So far, BI systems have mainly been adopted in large, multinational and international enterprises.
Start your business with sample business plan, marketing plans, contracts, and proposals.
Learn marketing and download content for your website and blog. Definition of business plan: Set of documents prepared by a firm's management to summarize its operational and financial objectives for the near future (usually one to .
The PRA Business Plan sets out the PRA’s strategy and workplan for the coming year. It also sets our Budget for / The PRA Business Plan sets out the PRA’s strategy and workplan for the coming year.
It also sets our Budget for / Few areas of business attract as much attention as new ventures, and few aspects of new-venture creation attract as much attention as the business plan.