GAQM Updated CBCP-002 Exam Questions and Answers by melanie

Contingency planning is the type of planning that requires the commitment of significant financial and human resources for situations that may never even occur. Contingency planning is the process of developing alternative courses of action in case the preferred plan fails or an unexpected event occurs. Contingency planning aims to reduce the impact and uncertainty of potential disruptions and ensure the continuity of the organization’s functions and processes. Contingency planning can be costly and time-consuming, as it involves identifying risks, analyzing scenarios, developing strategies, testing plans, and maintaining readiness. Verified References: https://www.iso.org/publication/PUB100442.html https://phoenixnap.com/blog/what-is-business-continuity-management

Threats can be considered any events or situations that can cause harm or disruption to an organization’s functions or processes. Threats can be natural, human-made, or technological in origin. Some examples of threats are water (such as floods, leaks, or spills), technology failure (such as system crashes, cyberattacks, or power outages), and fire (such as arson, accidents, or explosions). Verified References: https://www.iso.org/publication/PUB100442.html https://phoenixnap.com/blog/what-is-business-continuity-management

A formal “disaster” can only be declared by the firm owners or by the IT Department Manager. This is false because a formal “disaster” can be declared by any authorized person who has the responsibility and authority to activate the business continuity and disaster recovery plan. The authorized person may vary depending on the type, scope, and severity of the disaster, but it should be clearly defined in the plan who can declare a disaster and under what circumstances. The authorized person should also communicate the declaration of a disaster to all relevant stakeholders, such as employees, customers, suppliers, partners, regulators, media, or the public. Verified References: https://www.ready.gov/business-continuity-plan https://www.csoonline.com/article/515730/business-continuity-and-disaster-recovery-planning-the-basics.html

Business continuity planning is the process of identifying, developing, and implementing strategies and plans to ensure the continuity of an organization’s critical functions and processes in the event of a disruption. It can be both time consuming and expensive, as it requires a thorough analysis of risks, impacts, resources, and recovery options. However, management will expect tangible benefits from the process, such as reduced losses, increased resilience, improved reputation, and compliance with regulations. Verified References: https://www.ready.gov/business-continuity-plan https://drii.org/resources/professionalpractices/EN