Business Continuity and Resilience
Business continuity is about being prepared – having plans in place to respond to an unexpected event, such as a cyberattack or natural disaster. Business continuity plans mitigate risk to acceptable levels and allow the business to continue functioning regardless of circumstance.
AEP’s business continuity program is a partnership between our Enterprise Business Continuity & Resilience (EBCR) team, business units, operating companies, corporate functions, the Crisis Response team and the Infrastructure & Business Continuity (IBC) team. The IBC, EBCR and Crisis Response teams provide support, project management, expertise and tools to help business units develop robust plans to minimize business disruptions by decreasing response time, limiting financial impacts and maintaining customer confidence during a business interruption.
Business continuity planning helps us be prepared when an event happens that disrupts our operations. The threat of a cyber or physical attack or workplace-related incident is a risk for AEP, as are many other events that could interrupt business operations in one or all of our facilities.
We have an obligation to maintain service for our customers while keeping our customers and our employees safe. We test our plans to continuously improve our ability to effectively respond and recover in the event of an emergency. Business continuity must stay at the forefront in the workplace; our reputation is not based simply on whether we respond, but how effectively and thoroughly we respond and recover.
We continue to mature our business continuity practices by further aligning resilience functions with operational risk management through an annual assessment and refinement process that includes:
- Business impact analysis
- Exercises and drills to test plans
- Regular Business Continuity Plan review and updates
- Resilience assessments
- Semi-annual executive crisis management exercises
- Roadmap to increase maturity of the business continuity program