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Business Continuity Step 3

Business Continuity Step 3. Know Your Risks. Sub Steps. Hazard Identification Probability Vulnerability Risk. Hazard Identification. What are hazards Unavoidable danger even though foreseeable Something that causes unavoidable danger Sources for Identification History Newspapers

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Business Continuity Step 3

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  1. Business Continuity Step 3 Know Your Risks

  2. Sub Steps • Hazard Identification • Probability • Vulnerability • Risk

  3. Hazard Identification • What are hazards • Unavoidable danger even though foreseeable • Something that causes unavoidable danger • Sources for Identification • History • Newspapers • City or County Emergency Managers • Formal Hazard Identification documents • State Hazard Identification and Vulnerability Assessment • Hazard Mitigation Plans

  4. Probability • What is Probability? • The likelihood that a hazard will happen • Sources for Identification • History • Newspapers • City or County Emergency Managers • Formal Hazard Identification documents • State Hazard Identification and Vulnerability Assessment • Hazard Mitigation Plans

  5. Vulnerability • What is Vulnerability? • Susceptibility to the hazard • Sources for Identification • History • Newspapers • City or County Emergency Managers • Formal Hazard Identification documents • State Hazard Identification and Vulnerability Assessment • Hazard Mitigation Plans

  6. Impact • What is Impact? • The effect of the hazard • How to determine • History • Newspapers • City or County Emergency Managers • Formal Hazard Identification documents • State Hazard Identification and Vulnerability Assessment • Hazard Mitigation Plans • Experience

  7. Risk • What is risk? • Exposure to the chance of injury or loss • Combination of Probability, Vulnerability and Impact • Why is it important? • Helps you assess exposure • Assists in actions you may take • What to do about risk? • Accept • Insure • Mitigate

  8. Take Aways • Risk and it’s parts • What to do about risk? • Accept • Insure • Mitigate

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