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Title: Business Initiative and Technology
Student Name:
University
BUSI 230 - Enterprise Business Applications and Communications
Assignment 7: Risk Management and Business Continuity Planning
Due Week 7 and worth 160 points
In Part XLVII of your business plan, you will focus on risk management and business continuity
planning to identify, assess, mitigate, and manage risks that may impact organizational performance and
resilience. Your objective is to develop a comprehensive risk management framework that safeguards
your organization's assets, operations, and reputation.
Write a paper in which you:
1. Conduct a risk assessment to identify and prioritize potential risks and threats to your
organization. Evaluate internal and external risk factors such as strategic risks, operational risks,
financial risks, compliance risks, and reputational risks. Identify risk triggers, root causes, and
potential impact scenarios that may disrupt business operations and harm organizational
objectives.
2. Define the strategic objectives and goals for risk management and business continuity planning
in your organization. Identify key drivers and motivators for risk management, such as
regulatory compliance, stakeholder expectations, and strategic imperatives. Articulate the
importance of risk management as a proactive process that enhances organizational resilience
and protects value creation.
3. Develop a risk management framework outlining the processes, methodologies, and tools for
identifying, assessing, and managing risks across the organization. Establish risk management
policies, procedures, and governance structures to ensure accountability, transparency, and
oversight of risk management activities. Implement risk management training programs,
awareness campaigns, and communication strategies to embed risk management culture
throughout the organization.
4. Conduct a business impact analysis (BIA) to assess the potential consequences of disruptive
events on business operations, critical functions, and key stakeholders. Identify critical assets,
processes, and dependencies that are essential for maintaining business continuity and delivering
products or services to customers. Evaluate potential business impacts such as financial losses,
operational disruptions, regulatory non-compliance, and reputational damage resulting from
business interruptions.
5. Develop a business continuity plan (BCP) to mitigate the impacts of disruptive events and ensure
the timely recovery of critical business functions. Develop recovery strategies, contingency
plans, and alternative arrangements to restore operations in the event of emergencies, disasters,
or crises. Develop crisis management teams, incident response protocols, and communication
plans to coordinate response efforts and minimize business disruption.
6. Develop a disaster recovery plan (DRP) to restore IT systems, data assets, and technology
infrastructure following a disruptive event. Develop backup and recovery strategies, data
replication plans, and failover mechanisms to ensure the availability and integrity of critical IT
systems and data. Implement recovery point objectives (RPOs) and recovery time objectives
(RTOs) to prioritize recovery efforts and minimize data loss and downtime.
7. Develop risk mitigation and control strategies to reduce the likelihood and severity of potential
risks and threats. Implement risk avoidance, risk transfer, risk reduction, and risk acceptance
strategies based on the nature and impact of identified risks. Develop internal controls, risk
management processes, and monitoring mechanisms to detect, prevent, and mitigate risks in real-
time. Implement key risk indicators (KRIs), control self-assessment (CSA) processes, and
internal audits to monitor and validate risk management effectiveness.
8. Develop crisis communication and stakeholder engagement strategies to maintain trust,
transparency, and confidence during times of crisis or uncertainty. Establish communication
protocols, escalation procedures, and notification channels to inform stakeholders, authorities,
and the public about critical incidents and response efforts. Develop media relations strategies,
spokesperson training, and social media monitoring capabilities to manage public perception and
protect organizational reputation.
Clickhereto view the grading rubric for this assignment.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and
writing skills, using the following rubric.
Points: 160 Assignment 7: Risk Management and Business Continuity Planning
Criteria
Unacceptable
Below 70% F
Fair
70-79% C
Proficient
80-89% B
Exemplary
90-100% A
1. Analyze the options
available for
producing the product
or service. Next,
evaluate which of the
available options you
can take to streamline
operations.
Weight: 25%
Did not submit or
incompletely
analyzed the
options available
for producing the
product or service.
Did not submit or
incompletely
evaluated which of
the available
options you can
take to streamline
operations.
Partially analyzed
the options
available for
producing the
product or service.
Partially evaluated
which of the
available options
you can take to
streamline
operations.
Satisfactorily
analyzed the options
available for
producing the product
or service.
Satisfactorily
evaluated which of
the available options
you can take to
streamline operations.
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