AS NZS 5050 PDF

Global surveys of small to medium sized enterprises SME over the past few years candidly point to the fact the vast majority of SMEs are not prepared for a business disruption-related risk event. Simply put, without the preplanning involved in the BCM process, most organisations will not survive a major business disruption event. For those new to BCM the concept is pretty simple. By anticipating what types of disruptions may occur e. This is a major concern given that IT Disaster Recovery tends to be dealt with well before most SMEs start to plan for other contingencies such as loss of office access, or loss of a key supplier.

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Global surveys of small to medium sized enterprises SME over the past few years candidly point to the fact the vast majority of SMEs are not prepared for a business disruption-related risk event. Simply put, without the preplanning involved in the BCM process, most organisations will not survive a major business disruption event.

For those new to BCM the concept is pretty simple. By anticipating what types of disruptions may occur e. This is a major concern given that IT Disaster Recovery tends to be dealt with well before most SMEs start to plan for other contingencies such as loss of office access, or loss of a key supplier. If you have an out-of-date BCM plan, or have no such plan in place, you should seriously consider adopting the new Australian Business Continuity Management Standard.

CompliSpace combines specialist governance, risk and compliance GRC consulting services with practical, technology-enabled solutions. CompliSpace will be running a series of workshops over the next few months to assist companies to implement and integrate their Risk and BCM programs. To register your interest, please click here. If you have any questions about topics raised in this blog, or if you would like to find out how CompliSpace can assist you to streamline your existing governance, risk or compliance programs and make them more relevant to your organisation please feel free to contact us on the details below.

This blog is a guide to keep readers updated with the latest information. It is not intended as legal advice or as advice that should be relied on by readers.

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Standards Australia emphasises Risk Management in AS/NZS5050 BCM Standard

Further explanation of the relationship between to the Standards is provided in the standard as follows:. Risk management—Principles and guidelines is a globally accepted standard for managing all forms of risk. It advocates that all risks should be managed in an integrated way, supported by an effective framework that sets policy, demonstrates commitment, provides resources, allocates responsibilities and constantly checks progress. It includes detailed guidance particular to the features of these risks and to the risk management framework through which they are managed. The Standard therefore includes a methodology for determining how disruption can affect the continuity of the organisation's business and the likelihood of those effects being experienced.

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