BC policy and BC framework

Answer: The business continuity framework defines which elements are part of an business continuity approach (e.g., Business Impact Analysis, Risk Assessment, Business Continuity Plans and tests, etc.), while a business continuity policy defines the general guidelines for the business continuity (e.g., its purpose, objectives, management commitment, etc.)

2 - Definitions for mission critical /important/ vital assets in an organization? How are they determined?

Answer: These definitions are determined considering the relation and impact of the assets to the business functions. Generally, they can be defined as follows:
- Mission critical assets are related to the purpose of the organization (without them an organization is unable to serve its customers).
- Important assets generally means assets which failure or unavailability can severely impair business operations.
- Vital assets generally means assets which failure or unavailability ca n prevent one or more business processes to work (mission critical assets are one kind of vital assets, specific or related to processes which serve the customers).