Construction & Property
Property Rental Developer
Fast growing rental property developer recognised business continuity is a necessary part of risk management
Read MoreBusiness Continuity for the Construction & Property Sector
Teed is well versed in helping clients in the construction business and property developers of private, rented and social housing, along with the contractors and suppliers who support these organisations.
In construction and related industries, business continuity planning is not just centred around office functions but extends to project site activities to ensure that a disruption to its capabilities does not cause a site to shut down unnecessarily. For example, should IT and/or technical competencies be impacted by an incident, health and safety or site management activities may be compromised.
Adopting a business continuity perspective helps to determine risks related to suppliers, contractors and other key dependencies. Building a resilient supply chain through removing single points of failure and taking appropriate risk mitigation measures is essential. This is a particular focus for Teed as we recognise the need to delve deeper into the detail to find out exactly what is being done to mitigate risk and what else could be done to tie up any loose ends that become evident through analysis.
Software applications are often crucial for keeping a site safe and secure, enabling contractors to receive real-time data and instructions needed to manage complex construction projects. Apps can be used to manage rentals, maintenance and resident portals, alongside managing the build of new developments. Often these critical applications are delivered and maintained by software as a service (SaaS) or cloud service providers. Planning needs to be extended still further to understand the full extent of dependencies on third parties and how they would support the client in the event of a loss of the service or cyber security incident.
In the construction and property sector, although incident response processes are already in place to manage daily incidents, business continuity is not necessarily given the same level of focus; with the benefit of hindsight, business continuity brings out the hidden gaps.
Business continuity, IT disaster recovery and cybersecurity response planning all need to be in place and operating in sync with the organisation’s own site crisis management, emergency planning, and supplier management activities. If these disciplines are working harmoniously, our clients can be confident that they can meet stakeholder expectations, at every level.
Teed’s consultants recognise that however well risks are managed there is always a possibility that the worst could still happen. Business practices are so interconnected that the consequences of the loss of a combination of resources must be given real consideration.
Listening to business representatives and talking through scenarios can often allow actions and contingencies to be identified that would allow recovery to be achieved, albeit there may be some residual risk that needs to be accepted or transferred.
Each client project aims to help identify actions that enable the business to invest wisely. Exercising the plan and recovery strategies brings awareness to a wider audience of potential exposures that might not have been recognised and the realisation that they do not wish to be put in this position until all necessary preparedness activities have been taken forward.
Teed can help you protect your business from the ground up.