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Business Continuity

Ransomware, denial of service attacks, loss of confidential data and theft of intellectual property are increasing threats.

How can companies prepare for and minimise disruptions to their business continuity?

Many Australian companies, especially in mining, lag behind their international counterparts when it comes to preparing for threats that are increasing year-on-year. No one saw Covid-19 coming, and the disruptions that followed. Climate change is bringing more extreme weather events — fire, storms and flooding — that make business more challenging.

Critical minerals businesses are especially vulnerable because of their financial and geopolitical value. That’s why critical minerals businesses should take every measure to adopt rigorous international standards that reduce threats to their business continuity.

Business continuity

Smart businesses develop procedures and processes to minimise the impact of risks, crises and catastrophes. Business continuity planning identifies risks and dangers, reduces the time needed to restore business operations and keeps up with the ever-changing nature of threats and responses.

For stakeholders and investors, having a strong, credible and internationally-accepted business continuity strategy is essential to provide a high level of assurance. Such strategies are codified in international standards.

What is the international standard for business continuity?

ISO

ISO (International Organization for Standardization) is an international federation of 167 national standards bodies. It brings together experts to develop standards to support innovation and provide solutions to global challenges.

ISO 22301 is an international standard that is relevant to business continuity. For stakeholders, boards and investors, a business continuity strategy is essential for providing a high level of assurance.

ISO 22301 certification

The ISO 22301 standard is a strategy for business continuity management that does the following:

…specifies requirements to plan, establish, implement, operate, monitor, review, maintain and continually improve a documented management system to protect against, reduce the likelihood of occurrence, prepare for, respond to, and recover from disruptive incidents when they arise (ISO, 2019).

Key elements of the ISO 22301 standard

The main components of the business continuity management standard are as follows:

  • A business continuity management policy and objectives must be formulated based on the organisation’s needs.
  • An organisation’s overall capability to manage disruptive incidents, including the implementation and operation of controls and measures.
  • Assessing the business continuity management system’s effectiveness and performance.
  • A continual improvement based on objective measurement.
  • All organisations, regardless of their size, field of work, country of operation, and type should implement the generic requirements.
What are the next steps?

Visit the Guides page to find out more about the specific international standards that are relevant to the critical minerals sector.

Attend one of our webinars or events to discover more about the requirements for getting certified.

Purchase and access the ISO/IEC standards you want from one of these Australian providers.

Select a body, organisation or person accredited by JASANZ to inspect and certify organisations to ISO/IEC standards.

Want to know more about certification?

Begin working your way through the ISO certification process, which contains five stages:

 

Stage 1 — gap analysis
Stage 2 — certification documentation
Stage 3 — developing a management system
Stage 4 — implementation
Stage 5 — auditing and ongoing improvements

Stage 1

gap analysis

The gap analysis is a review of your company against an ISO standard. It identifies gaps in your operations that need improvement to reach certification standard. Once the gap analysis is finalised, your certifier will review the analysis with your management team. The gap analysis will be used as a basis to prepare the compliance documentation.

Stage 2

prepare your documentation to become certified

The documentation sets out your compliance objectives and processes to follow to ensure compliance.

Stage 3

developing a management system

You can modify or create a new management system that aims to ensure compliance measures will become integrated into your business.

Stage 4

implementation

The implementation stage is doing the hard work of embracing the ISO standards so they become integral to your management and operations.

Stage 5

auditing and continual improvements

Auditing is conducted internally and externally. This step is the final one to prove that you have reached and maintained compliance with ISO certification.

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