Singapore Business Continuity Standard Launched
SPRING, the Singapore government agency that addresses business continuity, recently announced that its new Singapore Standard SS 540:200 on business continuity management is now available. The standard is applicable to all companies regardless of their industry or size.
SS 540 provides a framework and guidelines for companies to prepare themselves “so as to minimize the impact of any disruptions and ensure business resilience.” The new standard is a revision of Technical Reference (TR) 19 which has been available for the past two years. The revised standard incorporates the ‘Plan-Do-Check-Act’ (PDCA) methodology that is also used in ISO 9001.
The business continuity management framework described in the new standard covers six areas:
- Risk Analysis and Review
- Business Impact Analysis
- Strategy
- Business Continuity Plan
- Test and Exercise
- Program Management
and four components
- Policies
- Processes
- People
- Infrastructure
in a matrix format. The matrix helps companies to identify potential gaps in their business continuity efforts.
According to Mr Teo Nam Kuan, group director, Quality and Standards Division, SPRING Singapore: “SS 540 will help our companies minimize the potential damage to their business, and give greater assurance and confidence to their business partners.”
See SPRING Launches Standard on Business Continuity Management
http://www.spring.gov.sg/Content/ModulePage.aspx?group=nw&id=0213e076-ccc9-4c30-9e79-c3dfffbedc6a
Tags: Business Continuity, Business Continuity Management, Business continuity standards, international
