Joanne:
You are on the right track.  Both the book mentioned (pause for a blush)
and the standard are helpful, although the book is undergoing revision
in the near future and will have more helpful info.  The key is - what
information is necessary for your organization to be back in business
quickly without incurring a large cost to do so.  

Some data/records are necessary during an emergency (for example, in our
case we need Water Quality test records and GIS maps of our distribution
system) and some records you need immediately after the event (again as
example, in our case, we would need our Customer Account records and
various payroll and human resource records).  Others you may not need
until a future audit or legal issue arises (contracts, fixed assets
inventory, deeds, incorporation papers, and so on).  In your case as an
electric utility, you would want to make sure all your records showing
compliance with laws and regulations are protected.  Determining what is
vital can be seen almost as speculation, but there is some science to it
and common sense is necessary.  Performing good risk management
processes (as described in both the book and the standard) are important
in determining not only what is vital, but also how best to protect
them.  

There are data/records that you do not "need" to be back in business
(for example we have press releases and customer base growth monitoring
records) that can be recreated or obtained from an alternate source if
lost or that would not greatly impact the organization if lost.  Also,
remember that records are "vital" only as long as the information is
current.  You would not, for instance, keep all retained payroll records
as vital - only the most current.

Ginny Jones
(Virginia A. Jones, CRM, FAI)
Records Manager
Information Technology Division
Newport News Dept. of Public Utilities
Newport News, VA
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