Title: Calculating the business continuity value by considering several destructive events and co-occurrence of risk factors

Authors: Bakhtiar Ostadi; Zeinab Najafian Ghobadi

Addresses: Faculty of Industrial and Systems Engineering, Tarbiat Modares University, P.O. Box 14115-111, Jalal AleAhmad, Nasr, Tehran, Iran ' Faculty of Industrial and Systems Engineering, Tarbiat Modares University, Tehran, Iran

Abstract: In the event of any disruption or interruption in the organisation's activities, methods and frameworks related to business continuity value management should be used to reduce damages. Considering the occurrence of destructive events and the existence of risk factors causing an interruption in business activity and their impact on the business and thus the damage to the organisation, it is necessary to measure the business continuity value (BCV) to adopt appropriate business decisions for its continuity and prevent these effects. This paper presents a formula to calculate the value of business continuity in the conditions of the co-occurrence of risk factors. The results illustrated the calculation of the business continuity value by considering the risk assessment and the co-occurrence of these factors. In the conditions of the co-occurrence of risk factors, the amount of the business continuity value is more reduced than in the conditions of non-co-occurrence of risk factors.

Keywords: business continuity value; BCV; co-occurrence of risk factors; destructive event; risk assessment.

DOI: 10.1504/IJBCRM.2024.137238

International Journal of Business Continuity and Risk Management, 2024 Vol.14 No.1, pp.30 - 56

Received: 04 Apr 2023
Accepted: 27 Jun 2023
Published online: 06 Mar 2024 *

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