GAQM CBCP-002 Exam With Confidence Using Practice Dumps

Damage assessment is the process of evaluating the extent and severity of the damage caused by a disruption to an organization’s facilities, equipment, systems, data, records, or personnel. It includes identifying the affected business functions and processes, estimating the time it will take to restore them to normal or acceptable levels of operation, and evaluating whether the recovery time exceeds the maximum tolerable downtime (MTD) for each function or process. If so, a disaster should be declared and the business continuity plan should be activated. Having the insurance company declare the total extent of the damages is not part of the damage assessment process, as it may take longer than the MTD and may not reflect the operational impact of the damage. Verified References:

Risk ownership must be clearly set out, documented and agreed with the individual owners at all levels of the operational risk management process. This is true because risk ownership is one of the key principles of business continuity management. Risk ownership means that each risk has a designated person who is responsible and accountable for its identification, assessment, treatment, monitoring, and reporting. Risk owners should have the authority and resources to manage their risks effectively and efficiently. Verified References:

The primary reason for developing and implementing a business continuity plan is to ensure the continuation of a company’s critical functions and processes in the face of a disruption that may otherwise cause severe losses or damage to the company’s reputation, assets, customers, or stakeholders. A business continuity plan can help a company to resume operations asquickly as possible after a disruption, minimize the impact on its performance and profitability, protect its brand and image, and fulfill its legal and contractual obligations. Verified References: