Hi Aswin, the Microsoft sources, which Marius pointed out are of coruse valid. For me the most important thing to consider is the backup of your SCOM databases (actually both of them). Nowdays everyone uses virtualization and in almost all cases the VMs are being backed up. Having a SQL DB backup alongside the VM makes it easy to restore your SCOM at any given point in time. You can of course install one additional Management Server with the "/Recover" paramter like descibed in the MS Learn articles, but having a SQL DB backup and a VM backup is essential for a qick recovery. I hope this helps you out!
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Regards
Stoyan Chalakov