Australia adhered to this trend through its recent introduction of the standard AS/ NZS Business Continuity – Managing disruption-related risk. In view of the . AS/NZS Business continuity – Managing disruption-related risk. standard by Australian/New Zealand Standards, 01/01/ View all product details. AS/NZS has undergone several changes in its journey from draft to final status. The draft Standard was in fact three separate documents.

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It is not intended as legal advice or as advice that should be relied on by readers. If you require specific or legal advice, please 55050 us on 02 and we will be happy to assist. Particular attention is given to those activities, resources, processes and dependencies that are most critical.

Business Continuity — Managing disruption-related risk. If you have an out-of-date BCM plan, or have no such plan in place, you should seriously consider adopting the new Australian Business Continuity Management Standard. That said one thing is for sure the debate over how Risk Management and BCM are going to evolve will nzss with us for some time.

Therefore, incorporating this standard will warrant the utilisation of a common language and performance measurement.

New Business Continuity Standard AS/NZS – RiskLogic AU

How Can CompliSpace Help? Internet of Things What does it mean? Hosting services provided by: This blog is a guide to keep readers updated with the latest information. Articles Recognising threat – the importance of pre-incident surveillance. Cyber There’s a good time coming 0550 process of developing an accessible BC framework in the context of disruption-related risk, ensures a BCP is tailored to the organisation.

As a result, an increasing number of Business Continuity BC standards and guidelines have emerged and gained prominence in recent years.

An audit will not only identify any prevailing gaps and deficiencies, but also reveal the current state and suitability of the prevailing program. Leave a reply Cancel reply You must be logged in to post a comment. This is a major concern given that IT Disaster Recovery tends to be dealt with well before most SMEs start to 50050 for other contingencies such as loss of office access, or loss of a key supplier.

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And for those organisations in the process of creating a BC program, the standard, together with appropriate best practice guidelines, will provide a foundation for equipping a resilient business.

Don’t be the nze link.

This requires a deep understanding of the operating environment as well as a detailed grasp of the organisation’s objectives and risks. While this approach has been debated amongst practitioners and experts of late, the standard highlights the concept of risk assessment including the identification, analysis and treatment options of disruption-related risks.

It includes detailed guidance particular to the features of these risks and to the risk management framework through which they are managed. In light of this, an independent assessment of an existing BC program is an opportunity to re-evaluate and invigorate BC within the organisation. By anticipating what types of disruptions may occur e.

Investing in an intact and tested BC program is not an option but a necessity in order to ensure the organisation maintains and successfully recovers from a business disruption.

Standards Australia emphasises Risk Management in AS/NZS BCM Standard

The information contained in this blog may have been updated since its posting, or it may not apply in all circumstances. 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.

The verification of supply chain continuity will provide assurance to key customers that the business is appropriately prepared for a disruption, and will also demonstrate good governance and professionalism to all stakeholders. Climate adaptation measures and our BCM approach – a user perspective.

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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. Risk management—Principles and guidelines is a globally accepted standard for managing all forms of risk.

For those new to BCM the concept is pretty simple. Find out more About Us. You must be logged in to post a comment. To register your interest, please click here. Particularly, when comparing to other suppliers that are unable to show a prudent BC framework and compliance with the standard or other regulations.

Standards Australia emphasises Risk Management in AS/NZS5050 BCM Standard

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. Simply put, without the preplanning involved in the BCM process, most organisations will not survive a major business disruption event.

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. Further explanation of the relationship between to the Standards is provided in the nzss as follows: CompliSpace combines specialist governance, risk and compliance GRC consulting services with practical, technology-enabled solutions.

As a result, it fosters the creation and preservation of a BC-aware and risk-averse culture in the company.

It advocates that all risks should be managed in an integrated way, supported by an effective framework that sets policy, demonstrates commitment, provides ad, allocates responsibilities and constantly checks progress.