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As a result, business continuity has become a requirement for corporate IT strategies and has gained visibility throughout all levels of management up to the CEO. Using virtual infrastructure, IT managers can improve all aspects of business continuity by realizing:

• Simpler and more reliable data protection
• High availability through reduced planned and unplanned downtime
• Faster, more flexible, and more reliable disaster recovery at a lower cost

"For our original disaster recovery system using a SAN, we were doing everything at both sites. We were purchasing twice as much equipment as we really needed. With VMware, I don't have to have the same equipment there. I can use my existing server hardware there and bring in newer, higher performing servers here."

The Federal Reserve, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the agencies) are issuing this Interagency Paper on Sound Practices to Strengthen the Resilience of the U. S. Financial System to advise financial institutions on steps necessary to protect the financial system in light of the new risks posed by the post-September 11 environment. The sound practices build upon long-standing principles of business continuity planning and reflect actions identified by industry members that will strengthen the overall resilience of the U.S. financial system in the event of a wide-scale disruption.
 
The agencies have identified broad industry consensus on three business continuity objectives that have special importance after September 11 for all financial firms. The agencies also have identified sound practices that focus on minimizing the immediate systemic effects of a wide-scale disruption on critical financial markets. The sound practices focus on the appropriate back-up capacity necessary for recovery and resumption of clearance and settlement activities for material open transactions in wholesale financial markets. They do not address the recovery or resumption of trading operations or retail financial services. The agencies are not recommending that firms move their primary offices, primary operating sites, or primary data centers out of metropolitan locations, and understand that there are important business and internal control reasons for financial firms to maintain processing sites near financial markets and their own headquarters. The agencies also are Read More...

This article is specifically written for any small to medium size business that wants to implement a continuity plan (CP). The information that’s provided within follows the same methodologies used by large corporations. The only difference you’ll find is that the requirements are scaled down, but not compromised. That is, the step-by-step process presented here is realistic, achievable, affordable, workable, and one that meets the practical needs of a smaller type business. Ready? Read More...