Question

For Project Management... in a project, you setup a whole procedure for risk management. If the risk does occur in the project what do you do? Please be detailed (you setup your risk control obviously, please add more insight).

Answer 1

If a risk does occur in a company, following must be ensured:

• Comprehensive risk assessment to identify the potential problems
• Holistic disaster management must be done which will help the organization to face any kind of emergency
• Emergency response plan must be ready to be put to implementation anytime.
• Effective communication lines must be setup across the company
• Recovery management plan must be developed after conducting meeting with the primary stakeholders
• The recovery as well as risk mitigation plan must be communicated clearly across the organization
• Backup reserves of resources must be maintained by the organization
• Special training must be given to the employees to facilitate the risk management process
• Documenting disaster recovery procedures for drafting and reviewing the procedure before implementation
• Identification of RPO and RTO
• Development of disaster recovery plan
• Proposed actions to face the disaster
• The leader and top management must be ready with a crisis management plan and must align the overall organization towards the commitment to survive the risk