About 10 years ago, a group of BU research scientists established a Boston based pharmaceutical company called Terrier Pharma. For most of its existence, the company operated on a limited budget with 20 employees in a facility near BUs Charles River campus. However, in early 2018 the U.S. Food and Drug Administration (FDA) approved Terrier Pharmas drug to treat Alzheimers disease. This one-of-a-kind drug has huge potential with projected annual sales of well over $1 billion and an international market which includes governments, hospitals, doctors, and pharmacies.
Since the FDAs approval Terrier Pharma has: built a separate drug manufacturing facility in Boston and is building another one in Switzerland ; established a large research and test facility in Bostons Longwood Medical Center; opened sales offices and distribution facilities in London, Singapore and Los Angeles; finalized long-term contracts with key drug component suppliers, etc. Actual production of the drug began in January 2019 and Terrier Pharma now has close to 1500 employees with plans to double the workforce in the near future.
While pleased with the projected growth trends, the board of directors and senior management of Terrier Pharma have also become concerned with the companys ability to respond to and recover from significant events that may impact its operations. Included among these are weather-related situations, employee related disputes and cyber-security data breaches, etc. At this time Terrier Pharma has no corporate infrastructure in place to address these areas other than a small Facilities group that handles physical security and safety.
As an external consultant, you have been hired by senior management to first, perform an assessment of Terrier Pharmas hazards and vulnerabilities and then, develop and implement an appropriate business continuity program (BCP).
Please put together a 1500 word proposal that covers your engagement. At a minimum, your proposal should include the objectives and scope of the engagement; the project tasks and associated deliverables; what you consider to be Terrier Pharmas critical business operations and associated risks; as well as a budget. In developing your proposal, please keep in mind the intended audience which in this case is senior management.