How to Make Your Disaster Recovery Plan Affordable?
Today, it is crucial to balance and realize the importance of having a well-defined disaster recovery plan . Every minute of downtime can significantly impact any business, leading to the loss of customers, revenue, and reputation. This blog aims to simplify implementing an affordable disaster recovery plan, allowing your organization to rebound from unexpected events like cyber crimes or hardware failure without going into debt. 1. Assess and Prioritize Risks An effective disaster recovery strategy is cost-effective because it relies heavily on a complete risk management process. It identifies your business's priority risks and enables you to channel your resources toward managing the most noteworthy risks. Focusing on those threats that cause significant damage is the best way to budget and avoid losses associated with insignificant risks. How to Do It: Perform business impact analysis (BIA) to assess how every disaster will incur losses. Rank the risks above based on their lik