BCP development and implementation by an outsourced consulting company with can easily cost $100,000 or more depending on the scope of the plan and complexity of the organization. Developing your own BCP internally using a template or software incurs the cost of your resources (employee time X hourly rate or salary). This may be more cost effective for smaller organizations with limited operations and locations.
Regardless of the approach taken, the true value is the remediation of potential losses vs. the cost of BCP. The questions to ask are
- “How much does cost to be down for a day…for 5 days…for 10 days…?” and
- “What are the highest risk areas which will hit the bottom line the most and the fastest?”