Week 8 – Business Continuity Plans / Isolation versus Quarantine
Continuity Plans:
Contingency (continuity) planning includes the following phases:
- Establish Organizational Planning Guidelines
- Business Impact Analysis (the Risk Assessment)
- Develop detailed Contingency Plans
- Validate
- Communicate the Plan
An example I found online of a corporation with a continuity plan for emergency situations is Deloitte Finance:
http://www.deloitte.com/dtt/article/0,1002,sid%253D119735%2526cid%253D129871,00.html
NASD Rule 3510 requires that a member firm disclose to its clients how its Business Continuity Plan addresses possible business disruption in various scenarios and its response to those scenarios.
Deloitte & Touche Corporate Finance LLC (“DTCF”) has identified the provision advisory investment banking services to its clients as its critical task with respect to its corporate finance engagements. DTCF has a contingency plan in place for various scenarios which may cause a significant disruption of DTCF’s business, and which may affect the firm, the buildings in which the firm resides, or the city or region in which the firm maintains its offices. Types of disasters include but are not limited to:
- Natural causes
fires
hurricanes
earthquakes
floods
tornadoes - Technical causes
hardware/software failures
prolonged loss of utility service - Human causes
riots
strikes
Isolation vs. Quarantine:
"Isolation refers to the separation of persons who have a specific infectious illness from those who are healthy and the restriction of their movement to stop the spread of that illness. Quarantine refers to the separation and restriction of movement of persons who, while not yet ill, have been exposed to an infectious agent and therefore may become infectious. Both isolation and quarantine are public health strategies that have proven effective in stopping the spread of infectious diseases."