You are not going to die with your business; neither are your investors. This is why you need to prepare an exit plan not just for yourself but also for your investors. They fail even before launching because the business was poorly planned. This reminds me of a quote from my mentor:
Introduction Part I contains information about this document, which provides the written record of the Massachusetts Institute of Technology Business Continuity Plan.
Introduction to This Document Planning for the business continuity of MIT in the aftermath of a disaster is a complex task. This document records the Plan that outlines and coordinates these efforts, reflecting the analyses by representatives from these organizations and by the MIT Information Security Officer, Gerald I.
For use in the event of a disaster, this document identifies the computer recovery facilities hot sites and shell sites — see Page 33 that have been designated as backups if the functional areas are disabled.
How To Use This Document Use this document to learn about the issues involved in planning for the continuity of the critical and essential business functions at MIT, as a checklist of preparation tasks, for training personnel, and for recovering from a disaster.
This document is divided into four parts, as the table below describes. It contains all of the procedures and support information for recovery.
Design of the Plan Part II describes the philosophy of business continuity planning at MIT generally, and the kind of analysis that produced this Plan. It also provides an overview of the functions of the Business Continuity Management Team in implementing this Plan.
Overview of the Business Continuity Plan Purpose MIT increasingly depends on computer-supported information processing and telecommunications. This dependency will continue to grow with the trend toward decentralizing information technology to individual organizations within MIT administration and throughout the campus.
The increasing dependency on computers and telecommunications for operational support poses the risk that a lengthy loss of these capabilities could seriously affect the overall performance of the Institute.
This risk assessment process will be repeated on a regular basis to ensure that changes to our processing and environment are reflected in recovery planning. MIT administration recognizes the low probability of severe damage to data processing telecommunications or support services capabilities that support the Institute.
Nevertheless, because of the potential impact to MIT, a plan for reducing the risk of damage from a disaster however unlikely is vital. The Plan identifies the critical functions of MIT and the resources required to support them.
The Plan provides guidelines for ensuring that needed personnel and resources are available for both disaster preparation and response and that the proper steps will be carried out to permit the timely restoration of services.
In the event of a disaster affecting any of the functional areas, the Business Continuity Management Team serves as liaison between the functional area s affected and other Institute organizations providing major services.
These services include the support provided by Physical Plant, security provided by the Campus Police, and public information dissemination handled by the MIT News Office, among others. Assumptions The Plan is predicated on the validity of the following three assumptions: It should be noted however, that the Plan will still be functional and effective even in an area-wide disaster.
The Plan is based on the availability of the hot sites or the back-up resources, as described in Part IV. The accessibility of these, or equivalent back-up resources, is a critical requirement. The Plan is a document that reflects the changing environment and requirements of MIT.
Therefore, the Plan requires the continued allocation of resources to maintain it and to keep it in a constant state of readiness. Development and support of individual FARM Team Plans are the responsibility of the functional area planning for recovery.
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