Coronavirus should be on your Risk Register

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A couple of months ago we would not have expected Coronavirus or any other Pandemic to feature in a Risk Register, but what about now? Why wouldn’t it have already been there? What businesses should consider the risks a pandemic poses?

With the ever increasing risks associated with the Coronavirus a pandemic should now be a part of every businesses risk planning. Business Continuity planning was always something which was pushed under Quality Management, but generally smaller businesses only considered the risks of things like loss of facilities due to fire or loss of data.

With the advent of the Coronavirus this has to change, but you might ask why. Well risk registers are only supposed to deal with the forseen and unless you were very diligent in documenting all your risks or you were particularly risk averse it’s unlikely that your business considered a pandemic. Now that has to change, because a pandemic can be foreseen.

Approach this as you would any other risk:

  • Understand the risks
    • Consider what impact it will have on
      • your stakeholders (staff, customers, suppliers, subcontractors, etc)
      • your business
      • the economy
      • logistics
      • the demand for your products and services
  • Take advice or research what options are available to mitigate the risks.
  • Decide what action you plan to take to address the risks, when to take them and who is responsible for them.
  • Consult with staff in considering the risks and developing the plans
  • Document the planned action so that when the time comes people know what action they should be taking.

And then hope you never need to use it!


admin

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