Aim to include a broad range of scenarios – for instance, cyber attacks, prolonged staff absences, IT malfunctions, loss of suppliers, serious power outages, or structural problems with your business premises.Specify what, exactly, will cause you to put your contingency plan into action.
Aim to include a broad range of scenarios – for instance, cyber attacks, prolonged staff absences, IT malfunctions, loss of suppliers, serious power outages, or structural problems with your business premises.Specify what, exactly, will cause you to put your contingency plan into action.Tags: Essays On In Foster CareFunny Homework Answers From KidsProblem Solving MethodologiesPeer Editing Checklist Descriptive EssayBusiness Floor Plan DesignNursing Program Essay QuestionsEasy Topic Argument EssaySample Research Paper On DiabetesThings I Would Change About Myself Essay
That's why it's important to make contingency planning a routine part of the way you work.
In this article, we explore how to create and maintain robust contingency plans, so that you've always got a backup option when things go wrong.
Or you may choose not to formally plan for some lower-priority risks at all, but to manage them if they do happen.
A good contingency plan can prevent your business from "going under" when unexpected events occur, so it's vital to ensure that it's fit for purpose.
Include a brief overview of the strategy that you will follow in response to the event.
This provides a context for the actions that you ask your people to take.(Our article, Risk Analysis and Risk Management, covers this process in more detail.) Chances are, you'll end up with a long list of potential threats.It may be unrealistic to attempt contingency planning for all of them, so you need to prioritize.Fires, floods, tornadoes – these are the type of events that we often associate with contingency planning.But what if your main supplier suddenly goes bankrupt, your entire sales force comes down with food poisoning, or your website is held to ransom by hackers?Contingency planning isn't just about major crises and natural disasters.It can also prepare you for more commonplace problems, such as the loss of data, staff, customers, or business relationships.State what needs to be done within the first hour, day and week of the plan being implemented.This could be as simple as, "Inform employees of the situation immediately." But you may need far more detailed timelines for certain situations, such as data breaches, serious workplace injuries, or leaks of hazardous materials.Here are the key elements to include: Refer to your risk assessment and impact/probability charts and choose the most damaging or most likely scenarios that you want to plan for.Then, map out what should happen in each case (see Examples 1 and 2, below).