Disaster Recovery Planning
Disaster recovery planning can best be defined as an organization’s procedures for continuing operations in the event of the destruction of program and data files, as well as processing capability. In the case of any disaster or incident that causes a stop in the continuing work, businesses must be prepared with a business continuity plan, or a way to resume the activities required to keep your organization running during a period of displacement or interruption of normal operation. Due to the amount of money being dealt with and the high demand of services from banking institutions during times of a community disaster, banks must find a way to continue business. A proactive approach is critical to banks and planning is crucial to disaster recovery to avoid potential problems before they ever occur.
Banks were among the earliest adopters of information technology in the business world. They embraced the benefits of computers almost from the birth of the high-tech industry. However, being so highly dependent on technology can cause banks to suffer at a time of disaster and is the reason why they should be well prepared for it so they can minimize the damage. If a bank were without a disaster recovery and business continuity plan and disaster occurred, they would be in huge trouble as IT is an integral part of their operations. Not only would the bank suffer but the economy would as well. The cost and effort it takes to put a disaster recovery plan in place and maintain it is well worth it considering how catastrophic it would be if a bank could not operate. There are several steps and matters that must be looked into in the disaster recovery planning process. The steps in a disaster recovery plan are assessing the risks, identifying mission-critical applications and data, developing a plan for handling the mission-critical applications, determining the responsibilities of the personnel involved, and testing the disaster recovery plan.
Risk assessment is one of the biggest steps in disaster recovery planning. Risk assessment is a process that identifies, quantifies, and prioritizes risks against criteria for risk acceptance and business objectives relevant to the organization. It is something that should be performed periodically as changes in the environment and security requirements occur regularly. When developing a disaster recovery and business continuity plan, a bank must weigh how vulnerable they are to a disaster. The threat of a disaster can spell big trouble in the banking sector. Anything that may pose as a threat to disrupting their business should be addressed and an effort should be made to try and prevent or minimize any damage that could be incurred. Because of their extremely high vulnerability to a disaster, it is essential for them to do everything they can to have the best recovery plan to continue business.
Once risk assessment is completed, identification of applications that are critical to accomplishing the business’s mission is essential. In other words, priorities should be set as to what is more important to the organization and what is not. This is a critical step because unfortunately in a disaster not everything will be able to be recovered, but you must have what is necessary to continue on with business. One way of going about this is going department by department in a business and seeing the function of each. Once this is done, you can rank the functions in order of what is most important. Backup files must be put in place as well as important telephone numbers and other important information being saved and stored in a secure storage location away from the regular location.
Now that the bank has come to see what applications are absolutely necessary to continue business, designing a plan for handling this is the next step. There are many different strategies and ideas of recovery that must be taken into...
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