Review and update your risk management plan
You will need to test, evaluate and update your risk management plan regularly as risks can change as your business, your industry and the environment you operate in change. Regularly reviewing your risk management plan is essential for identifying new risks and monitoring the effectiveness of your risk treatment strategies.
Strategies for testing your risk management plan
Find out about strategies for testing, evaluating and updating your risk management plan and your business continuity plan.
Your risk management plan should be part of a broader business continuity plan that includes strategies for responding to and recovering from incidents if they do happen. Making sure your business continuity plan is reliable and up to date will help you resume operations quickly after an incident and reduce the impact to your business.
While you may be able to predict and deal with a large number of potential risks, there will be some that are unexpected or impossible to plan for. Preparing an incident response plan and a recovery plan as part of your overall business continuity plan can help you deal with these situations if they happen.
A risk management plan is the prevention step in the prevention, preparedness, response and recovery (PPRR) model of business continuity planning.