Briefly Differentiate between: Business Continuity Plan (BCP) and Disaster Recovery Management Plan (DRMP).

Business Continuity Plan (BCP): Business Continuity Plan relates to resuming, maintaining and recovering business activity in the event of disruptions, disasters and calamities. The plan should accomplish three objectives: Manage an immediate crisis. Initiate action to continue business activities in the short term. Establish the organizational procedure to manage medium and long term recovery. Disaster Recovery Management Plan (DRMP): DRMP deals with the emergency action which the branch will take to deal with a situation of disaster. In a fully computerized bank branch, DRMP has acquired high importance. It covers three steps of action when a disaster strikes, Viz., Confronting the disaster by an Emergency Plan; Procurement of required materials through a Back Up Plan; and To restore the office to normalcy for speeding up commencement of normal business transactions. When a disaster strikes, the three teams will go into action. All information is made available in the Plan, i.e., persons who would be involved in confronting the disaster, their duties and areas of responsibilities. Information like telephone / cell number, address of hardware/ software personnel, electrician, etc. are also kept handy to facilitate contact in an emergency. Rigorous training is provided to the team, including mock drills or simulated attacks to test DRMP drawn up by bank branches.