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Risk Management

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Risk Management
Melissa Kizer-Denato
Everest Online University

The management of fire risk is a key component in the production of a business continuity plan. Both seek to improve the organization’s resilience. The structure of the plan will depend on the nature of the business or organization and will need to be tailored accordingly. Key steps to building the plan are: * Understand your business * BCM strategies * Develop a BCM response * Develop a BCM culture * Exercise, maintenance and audit (Monmouthshir, 2013)
The Business Continuity Plan pulls together the response of the whole organization to a disruptive incident. Those using the plan should be able to analyze information concerning the impact of the incident, select and deploy appropriate resources from those available in the plan and direct the resumption of business units according to agreed priorities. Building-in business continuity, making it part of the way that you run your business, rather than having to 'firefight' any emergency, helps prepare you to offer 'business as usual' in the quickest possible time. The benefits of BCM include: * Protects the organization * Enables a clearer understanding of how the organization works * Ensures compliance * Protects the community (Surrey's Local Resilience Forum, 2014)

'Business Continuity affects everyone: customers, staff, the community and ultimately the economy' (Surrey's Local Resilience Forum, 2014). Nearly 1 in 5 businesses suffer a major disruption every year, 80% of businesses affected by a major incident close within a month (Monmouthshir, 2013). Since 2000 there has been a 24% increase in the total cost of fire in the UK to £7.7bn (HR Future). The cost of arson has increased by 32% to £2.9bn (HR Future). The management of fire risk not only ensures compliance with legislation but

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