Risk management vital in recession

As the battle to stay in business in this tough climate continues, small companies mustn't forget just how important it is to have a plan B, in case the unexpected happens, reports the Mirror.

“In times like these, making sure your business remains fully operational in the event of a disaster is absolutely crucial,” says Neil Stephenson, chief executive of the Onyx Group, which specialises in managing IT systems and business continuity.

“You need to have contingencies to deal with physical adversity, such as a fire, theft or flood, or an IT crisis, such as data loss or system failure.”

The business impact analysis (BIA) is the cornerstone of the business continuity programme, according to ITProPortal.

However, a common mistake is to think of the BIA as a one-off exercise, because it shouldn't be.

It needs to be revisited from time to time to ensure plans and strategies continue to be applicable.

The state of the economy is imposing new ways of thinking and new approaches to data protection and disaster recovery processes as well as the overall management of IT operations, according to Computer Technology Review.

If you look at the allocated budget for data protection and its distribution, the ratio between capital expenditure and operating expenditure is almost four to one.

Although it is still important, of course, to reduce capital expenditure, the area that can actually dramatically affect IT budget is operating expenditure.