AS/NZS 5050:2010: business continuity - Managing disruption-related risk
This Standard was prepared by Standards Australia/Standards New Zealand Committee OB-007, Risk Management to assist organizations maintain continuity of their business through effective management of disruption-related risk. This will thereby enhance an organization’s resilience and can create strategic and tactical advantage in uncertain and volatile environments.
The approach to managing disruption-related risk described in this Standard is through application of AS/NZS ISO 31000:2009, Risk management—Principles and guidelines. Particular emphasis is given to disruptive events of such scale as to otherwise be beyond the capability of an organization’s normal management system to cope with.
The provisions of this standard should be an integral part of the organization’s plan for risk management. They will help reduce the occurrence and scale of events that could cause disruption as well as equipping the organization with the capacity to: (a) stabilize any disruptive effects as soon as possible; (b) continue and/or quickly resume those operations that are most critical to the organization’s objectives; (c) expedite a return to normal operations and a full recovery; (d) capitalize on any opportunities created by the event; and (e) assume additional risk with confidence.