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It was a disastrous day for America on the 11th of September. World Trade Center in New York City, symbol of Uncle Sam's financial supremacy, collapsed under terrorist attack. The 220 floors, of the twin towers that housed the who's who of the financial world in the US, were razed to ground. Apart from the human tragedy that the attack on WTC brought in its wake, several of the companies also lost their data and equipment. For all these companies it was business as usual on Monday but Tuesday saw them in the midst of a disaster.
Today it is even more important as the business of companies like Morgan Stanley is based on enormous amount of data they generate each day. Prudent managements besides having the usual internal data backups have a second backup at a site that is located miles away. A disaster recovery plan is a plan that needs to be carefully developed with a hope that it will never have to be used. However, many companies shy away from spending money on something most of us hope we will never need.
A well planned and structured disaster recovery plan not only reduces uncertainty but also softens the impact of unusual circumstances produced by the disaster. A disaster recovery plan promotes a systematic, orderly and effective approach to the consequences of a disaster. Above all it reduces thinking time during a disaster which is no time to plan for the response to the calamity. It should be flexible enough to take care of any eventuality, however unlikely it may be. In the absence of such a plan the aftermath of a disaster could result in arbitrary, chaotic and neffective response. Disaster recovery plan ensures preservation of life and assets to the extent possible. It is not sufficient to have a disaster recovery plan in place. Equally important is the fact that people should be made aware of it. For a disaster recovery plan to be effective all concerned should be trained to put it into operation when required.
It is rightly said, "A stitch in time saves nine". Develop your own disaster recovery plan today.
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