Have a look at something my friend, Scott Crowley wrote. He is a Partner and an Enterprise Risk Services Leader at Meyers Norris Penny LLP in Toronto.
In the face of potential extreme events like terrorist attacks, blackouts, widespread pandemics and natural disasters, organizations must be prepared to sustain operations for any eventuality, no matter how remote. Given these concerns, many risk managers are asking how they can better prepare for the threats of tomorrow without compromising the ongoing demands of their business today. An organization’s risk management program must provide the direction required to navigate the current economic storm.
Despite these challenging times, many businesses have weathered the economic storm by integrating crisis management elements into their business resiliency plan. Many succeeded because of their willingness to create and adopt a risk management program.
The key elements of a risk management program include: a culture of business continuity, program management, maintenance and audit of plan, develop business continuity strategies, and understanding the business. The most fundamental element, however, is: understanding the business. … Click here to get the rest of the article