An Effective Catastrophic And Recovery Plan Essay

970 Words May 30th, 2016 4 Pages
Ultimately, there are seven ways to deal with risk: retain the risk exposure, retain but change mitigations, increase risk exposure, avoid risk exposure, reduce the likelihood of risk, reduction in the consequences, or transfer the risk (Bethel, 2016). In order to create an effective catastrophic and recovery plan, we must first be able to identify our potential risk. Thus, identification of potential risk in this scenario could include brainstorming with the team to determine potential issues, hire risk consultants who have dealt with the affects of hurricane in the past, complete checklists, develop different scenario analysis, and conduct process mapping (Fraser & Simkins, 2010).

Water Tots chooses to retain the risk exposure, but plan for best possible outcomes.
Annually, locations susceptible to hurricanes, like Florida, undergo hurricane preparedness week, which was May 25 - 21 this year (Hurricane, 2016). Water Tots chose to use the Business Risk Model, which is a common model, to determine environment, operations, financial, technology, and decision making risk (Fraser & Simkins, 2010). Outside of using staff and consultants, Water Tots will use the tools prepared by The National Weather Service and follow their daily tips (Hurricane, 2016). Typically, a warning or watch will be announced within 36 hours of a life threatening event (O’Donnell, 2015).

What is the risk that Water Tots will have to implement the catastrophic plan? Unfortunately, this is hard…

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