In: Accounting
Contingency plans are an important part of your overall business continuity strategy because they help ensure your organization is ready for anything. Many large businesses and government organizations create multiple sets of contingency plans so that a variety of potential threats are well-researched and their appropriate responses are fully practiced before a crisis hits.
To create a contingency plan for your organization, follow this five-step framework:
1. Identify/Prioritize your resources
2. Pin point the key Risk
3. Draft your Contingency Plan
4. Distribute your Plan
5. Revisit the Plan
Some of the ways to Reduce Downtime.
Increase and Improve Staff Communication.
Hold Regular Staff Evaluations.
Set Specific Manufacturing Plant Goals.
Conduct Regular Manufacturing Equipment Maintenance.
Upgrade Your Manufacturing Equipment.
Track Manufacturing Downtime Carefully.
Properly Train Production Line Employees.