Understanding the lingo of disaster recovery and business continuity planning is essential to ensuring a firm is fully knowledgeable during the planning process and prepared should an incident occur. Here at Eze Castle Integration we are regularly defining key DR terms for our hedge fund clients. Since we fancy ourselves experts on all things hedge fund DR related, we have have developed this handy list of common DR definitions.
A component of Disaster Recovery that deals with the restoration of business system software and data, after the operating system environment has been restored or replaced.
Business Recovery Team
A pre-identified group of individuals that is reponsible for maintaining and executing the recovery process.
A system of planning for, recovering and maintaining both the IT and business environments within an organisation regardless of the type of interruption. In addition to the IT infrastructure, it covers people, facilities, workplaces, equipment, business processes, and more. Be sure to read our articles on the difference between DR & BCP and preparing for a worst case scenario.
Business Impact Analysis
A collection of information on a wide range of areas from recovery assumptions and critical business processes to interdependencies and critical staff that is then analysed to assess impact a disaster may have.
The process of restoring and maintaining the data, equipment, applications and other technical resources on which a business depends.
High availability describes a system’s ability to continue processing and functioning for a certain period of time - normally a very high percentage of time, for example 99.999%. High availability can be implemented into a firm's IT infrastructure by reducing any single points of failure using redundant components.
Hot Sites versus Remote Sites
A disaster recovery hot site is a remote physical location where you can maintain copies of all of your critical systems, such as trading applications, data, and documents. A remote site provides a secondary instance or replica of your IT environment—without physical desks and office infrastructure—that you and your firm’s employees can securely access and use remotely, through standard Internet connections from anywhere.
Want to know more? We have a whole article on the difference between hot sites and remote sites.
A computer system or application that is essential to the functioning of your business and its processes.
Production or Primary Site
In the context of a primary and secondary site, the primary site contains the original data that cannot be recreated.
Recovery Time Objective (RTO)
The RTO is the duration of time and service level within which a business process must be restored after a disruption in order to avoid unacceptable losses. RTO begins when a disaster hits and does not end until all systems are up and running.
Recovery Point Objective (RPO)
The RPO is the point in time to which a firm must recover data as defined by the organisation. In other words, the RPO is what an organisation determines is an “acceptable loss” in a disaster situation. The RPO dictates which replication method will be required (i.e. nightly backups, snapshots, continuous replication).
A system of using multiple sources, devices or connections so that no single point of failure will completely stop the flow of information.
The identification and prioritisation of potential business risk and disruptions based on severity and likelihood of occurrence.
Secondary Site (or DR Site)
The secondary site contains information and applications that are built from the primary repository information. This site is activated should the primary site become unavailable.
What's missing from the list? Help us expand this DR dictionary.
- Disaster Recovery Guidebook
- eBook: Preparing for the Worst: Disaster Recovery and Business Continuity Planning for Investment Firms
- Blog Article: Common Disaster Recovery Misconceptions
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