Sunday, April 17, 2016

Week -5

Contingency Planning…..Do you have Good Plan “B”?

Most of the business like to have events take place routinely without to many changes, variations or problems, but do you think that happens in your real practice? Events don’t always go routinely as planned. The entire incident and its outcome differ according to the set of circumstances, which varies every time. A contingency plan is designed to help organization respond effectively to a significant future events, or situation that may or may not happen.

So, risk management concept emerged as a part of Contingency planning, which provides a dynamic attribute to the event and circumstances. Risk management helps to reduce uncertainty, preserve assets, and identify risk to achieve organizations mission. But it seems like organization always omits the important factor on their plan, “What If?” This two critical words are the essence of risk management and provide a different perspective to Plan A. What if your Plan A does not work as planned?  So, it is important to understand that risk management practice provides the foundation for plan A and your Contingency plan provides the platform for “Plan B”.

During the various practices, risk management realized that different risk situations require different level of response and different approach to deal the situation. As a result, organizations emerged with emergency plans, crisis management plans, and disaster plans.

Emergency plan deals with contingencies, which may occur or may not, so policies and procedures to reduce, prevent, and control risk need to mentioned as the Plan A. so, Emergency Plan, or Plan B emerges to respond to situations, if Plan A doesn’t go as planned accordingly. 


A crisis occurs when the threat is not eliminated by the emergency plan and some impact occurs. As risk management and contingency plans focus on the control and manage risk per-loss, crisis management engages in controlling and managing risks post-loss. So crisis management plan will help organization to plan for after math event and will be an effective tool to find out answers for what do you do now?.


References:

Michael E. Whitman and Herbert J. Mattord, “ Management of Information
Security”, Published by Cengage Learning, Fourth Edition

Schirick. ED, 2003, “Risk Management: Contingency Planning- The Art of

Dealing Plan B”, Published in the 2003 January/February issue of Camping Magazine, Retrieved from: http://www.acacamps.org/content/risk-management-contingency-planning-art-developing-plan-b

Andrushko. Veer Galyna. “Contingency Planning –Developing a Good Plan B”,

Published on MindTools.com, Retrieved from: https://www.mindtools.com/pages/article/newLDR_51.htm

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