Preparing for a crisis can feel like a daunting task. But, what if I were to tell you that you can get a good head start in the time it takes to have a coffee break? Would you give it a try?
Since you decided to read more, I will take your answer as a “yes”. Grab your coffee, a pen and paper and follow this six minute exercise:
Activity 1. Time = 1 minute
Using the list below, choose the three risk categories most likely to impact your organization.
- Technology/cybersecurity – personal data security, information leaks
- Health, safety, environment – office air quality, pandemics, office security
- Natural/operational disasters – fires, floods, storms, workplace violence
- Quality, product – tampering, patent infringement
- Financial – fraud, financial malfeasance, purchasing irregularities
- Industry/member issues – regulations affecting industry, industrial accident, technology disruption
- Employee relations/labour disputes – sexual harassment, racial discrimination, scandalous behaviour
- Legal – trademark, patent or copyright infringement, claims of unfair or improper competition, corruption, bribery, tax evasion
- Ethics/social – special interest group targets, member or industry-wide issue, demonstrations
- Miscellaneous – executive behaviour, travel policies, expense policies
Activity 2. Time = 1 minute; elapsed time = 2 minutes
Now, plot the three risk categories you chose on this “heat map”.
Activity 3. Time = 3 minute; elapsed time = 5 minutes
Take the risk category that was the highest impact and highest probability on your heat map and answer these six questions about it.
- What might happen?
- What it would mean to your organization in business terms?
- What are your objectives for recovery, if this happens?
- What are we doing now or what should we be doing to prevent this from happening?
- What checks do we have in our policies, work processes, etc. to monitor the risk level/mitigate?
- Who is accountable for the ongoing monitoring and/risk recovery?
Activity 4. Time = 1 minute; elapsed time = 6 minutes
Take a sip of your coffee and congratulate yourself. Your ability to anticipate what might happen is confirmed.
Now wasn’t that easy?