A business continuity plan for property management firms is a comprehensive plan of action to ensure that property management services, tenant communications, and maintenance operations are uninterrupted during unexpected events. It includes strategies to prevent and mitigate risks and outlines procedures to follow in the event of an emergency.
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
This template is aimed at helping property management firms create a detailed business continuity plan. It provides a clear outline of the steps needed to ensure the continuity of services, communications, and maintenance operations during unexpected events. The template includes focus areas, objectives, measurable targets (KPIs), projects (actions), and more.
Focus areas are the overarching goals that a business continuity plan should aim to achieve. Examples of focus areas for property management firms could include Establish and Maintain Business Continuity, Prepare for Sudden Events, and Develop and Implement Incident Response Plan.
Objectives are specific outcomes that should be met in order to achieve the goals of the focus area. For example, under the Establish and Maintain Business Continuity focus area, objectives could include Ensure Continuity of Property Management Services and Ensure Continuity of Tenant Communications.
KPIs (Key Performance Indicators) are measurable targets that should be set in order to meet the objectives. They should be measurable and have an initial and target value. For example, for the objective Ensure Continuity of Property Management Services, a KPI could be “Ensure property management services are uninterrupted during unexpected events”.
Projects (actions) are the steps needed to accomplish the KPIs. These can include creating preventative maintenance plans, performing risk assessments, and forming incident response teams. These projects should be tracked and monitored to ensure the KPIs are being met.
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