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Question 1 of 30
GlobalFinance Corp, a financial institution, utilizes cloud services for critical business operations, including transaction processing and customer data storage. As the Head of IT Risk Management, you are tasked with developing a business continuity plan (BCP) that aligns with ISO 27017:2015 to ensure the resilience of these operations in the event of a disruption. Considering the specific challenges and considerations associated with cloud services, what key elements should GlobalFinance Corp prioritize when developing its BCP to effectively address potential disruptions in the cloud environment? Assume that GlobalFinance Corp has a pre-existing BCP for its on-premise infrastructure.
Identify critical business processes and their dependencies on cloud services, define recovery time objectives (RTOs) and recovery point objectives (RPOs) for each critical process, establish backup and recovery procedures for data and applications in the cloud, and regularly test the BCP to ensure its effectiveness.
Focus primarily on implementing data backups and replication strategies to ensure data availability, without necessarily defining RTOs/RPOs or establishing detailed recovery procedures for applications.
Rely solely on the cloud service provider's (CSP) business continuity and disaster recovery plans, assuming that they adequately cover GlobalFinance Corp's specific business requirements and regulatory obligations.
Adapt the existing on-premise BCP to the cloud environment without considering the unique characteristics of cloud services, such as shared infrastructure and reliance on internet connectivity.