5.7 Crisis management and contingency planning

Question 1

Crisis management

Answer 1

systematic steps and efforts by an organization to limit the damage from a sudden crisis

Question 2

Crisis management triggered by

Answer 2

1. human activity
2. industrial accidents
3. natural disasters
4. combination of all of the above

Question 3

Related factors affect crisis management

Answer 3

1. transparency (stakeholders wanting to be kept informed)
2. communication (in an objective way)
3. speed (act promtply
4. control (prevent further damage)

Question 4

Contingency planning

Answer 4

an organizations attempts to put in place procedures to deal with a crisis anticipating it through scenario planning modelling and simulation

Question 5

Important factors for contingency planning

Answer 5

1. cost
2. time
3. risks
4. safety