As and when a need occurs, but should be done on an annual basis. And it is a critical component of the policy.

Companies working through all the crises in the world are forced to be reactive as opposed to proactive. Is it possible to make up for lost time?

It's never too late! Each company must cater for and budget as soon as the importance is realized, and or a situation occurs. This is an evolutionary process but the management must believe in the critical importance of a BCP in place. Until they don't, the implementation and execution will never work.

What's the biggest challenge a DM/BCP consultant, faces?