Business continuity planning and Disaster recovery planning are the most crucial elements of a business but are often ignored Businesses must make a well structured plan and document for disaster recovery and business continuation even before a catastrophe occurs Disasters can be short or may last for a long time but when an organization is ready for any adversity it thrives hard and survives This paper will clearly distinguish the difference between disaster recovery plan and business continuity plan will describe the components of each plan and finally will provide an approach that organizations can follow to make better contingency plan so that they will not go out of business when something unexpected happens This paper will put forward a list of recommendations that an organization can follow to maintain enough strength and resources to react and come out of the crisis successfully