Itello see risk and business continuity management as two correlated parts. It is initially to identify, evaluate and compile the effects of the risks.
After compiling and analyzing the next step is to work on risk and impact mitigation.
Parallel planning and training for continuity management is done when a backup process still needs to be activated to rapidly reduce the harmful effect.
All identified types of risks covered and handled in context. Risk types are identified as:
– Strategic risks
– Operational risks
– Economic / financial risks
– Physical risks
Business Continuity Management
The risks in the risk assesment identified as not likely to deal with in the context of robust processes, may be handled by the business continuity managements backup processes.
Itellos management for business continuity management is tasked to develop solutions and plans for these backup processes, test and train to be prepared as well as maintaining / improving these.
Alongside this the business continuity management will also deal with unforeseen risks as a last resort.
Itello intend to comply with ISO standard 22301 in its work on continuity.