Business continuity management (BCM) is closely related to risk management and encompasses the development of strategies, plans and actions in a company to protect activities or processes from failing or to provide alternative possibilities, where the interruption of such activities or processes would cause serious damage or devastating losses to the company (such as operational disruptions).
The aim of BCM is therefore to ensure the continued operation of the company even if risks with extensive damage materialise.
BCM uses a life cycle model to secure that business operations continue even in cases of crises or unforeseeably difficult conditions. There is a close relationship with the company’s risk management. For institutions, the relevant rules can be found in AT 7.3 of the German Minimum Requirements for Risk management (MaRisk) and Section 9 of the German Supervisory Requirements for IT (BAIT).