Understanding What Can Go Wrong
LUCK—1a: a force that brings good fortune or adversity; 1b: the events or circumstances that operate for or against an individual; 2, favoring chance.
The heart of building a business continuity plan is a thorough analysis of events from which you may need to recover. This is variously known as a threat analysis or risk assessment. The result is a list of events that could slow your company down or even shut it down. We will use this list to identify those risks your business continuity plan must address.
First, let’s define the terminology we’ll use when discussing risk:
The potential ...