Business Continuity Planning 101
The 7 Phases of the BCP Process / Phase 2 - BC Risk Assessment Risk Assessment Phase
Purpose: Activities:

To gather data used for determining the risk and creating risk management strategies

To produce reports and conclusions:

Basic Risk Management:

  • Identify threats to the business entity
  • Map the threats to the corporate assets
  • Estimate probability
  • Apply risk management techniques

Risk Management Process:

  1. Mitigate risk
  2. Accept risk
  3. Transfer risk

Risk Assessment:

  • Research potential threats
  • List organizational assets exposed to threats
  • Determine likelihood and severity
  • Examine existing and potential controls
  • Analyze cost/benefit of controls
  • Report to management

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