Using reliability and simulation models in business continuity planning Online publication date: Sat, 31-May-2014
by Holmes E. Miller; Kurt J. Engemann
International Journal of Business Continuity and Risk Management (IJBCRM), Vol. 5, No. 1, 2014
Abstract: Business continuity planning is a process to ensure that an organisation can continue to function effectively and resiliently when faced with crisis events. A key phase of the process is risk analysis, which involves identifying events, determining causes, and estimating probabilities and impact. In this paper we focus on estimating probabilities. Current practice often relies on ad hoc methods such as questionnaires or perusing historical records. We ground our discussion in concepts of reliability theory (used successfully over the years in estimating failure probabilities for physical systems) and simulation modelling. We develop and exercise some elementary models to illustrate the power of using these analytical methods.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Business Continuity and Risk Management (IJBCRM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com