Contingency planning is a proactive process of creating a strategy to help you prepare for any scenario that can affect your business, regardless of the likelihood of its occurrence. These plans shouldn't focus solely on situations that may harm your business. For example, you may expe...
In most cases, a contingency plan is devised to respond to a negative event that can tarnish a company’s reputation or even its business continuity. However, there are positive contingency plans, such as what to do if the organization receives an unexpected sum of money or other project ...
Over the years, the contingency planning process has been connected to other types of business-readiness plans based on standards developed around the world. These standards address issues related to BC, incident response (IR), cybersecurity, continuity of operations, critical infrastructure, crisis co...
While system owners are right to focus on theoperational securityneeds of the systems for which they are responsible, developing thoroughcontingency plansand processes and providing for effective contingent operations requires awareness and understanding of many factors that influence the information system ...
Another difference is that contingency plans are usually more detailed and specific than mitigation plans, as they are developed in response to a specific risk event. Mitigation plans, on the other hand, are typically more high-level and strategic, as they are developed to address a broad range...
Consistency must be maintained in formats and structure so that personnel moving between projects become familiar with how the plan is laid out and how it works. Management Tools Decision Authority Matrix: response plans must include references to the decision authority matrix. This guides incident ma...
It’s true. Technological advances and the ability to attain information in real time is improving, just as lean material flows and tighter margins have created an environment in which shippers have the right to expect that their carriers have effective processes and contingency plans in place to...
While system owners are right to focus on the operational security needs of the systems for which they are responsible, developing thorough contingency plans and processes and providing for effective contingent operations requires awareness and understanding of many factors that influence the information sy...
Rokstone, the international speciality re/insurance MGA that is part of the Aventum Group, announced the launch of a new contingency portfolio with backing from “A”-rated carriers. Rokstone is launching the contingency account initially in the UK and Europe with plans … ...
“It will occur when we have a harvest coming in, when demands for our services… have never been greater; that is the absolute worst time for it to occur,” he said. And Maersk warned: “In the event of a work stoppage, customers can anticipate significant backlogs, with knock-on effe...