Risk Management & Contingency Planning
Identify, mitigate, and plan for operational risks
Identifying Core Risks
Risk identification involves systematically listing anything that could impede operations, including delays, customs clearance errors, and procedural lapses.
Comprehensive risk identification ensures you're prepared for potential challenges before they impact operations.
Risk Types & Mitigation Strategies
Delay Risk
Potential postponement of shipments or project milestones
Mitigation Actions:
- ✓ Double-check schedules
- ✓ Maintain buffer time in timelines
Customs Clearance Risk
Incorrect documentation leading to fines or shipment holds
Mitigation Actions:
- ✓ Formalize documentation with company logo
- ✓ Upload SOPs to website for easy access
Procedural Risk
Paperwork errors that shift liability to the company
Mitigation Actions:
- ✓ Conduct double-check reviews before submission
- ✓ Use standardized templates
Emergency Contingency Plan
Create a written contingency plan and store it on the company website for accessibility and regular updates.
Key Responsibilities:
Designate an IT contact to manage uploads and ensure the latest version is always available.
Regular Review:
Update the contingency plan annually or after major operational changes.
Implementation Steps
- Map out risks using a structured format
- Assign responsibility for each mitigation action
- Document contingency procedures in detail
- Store finalized plans with company branding
- Upload to website and maintain version control
- Schedule quarterly reviews with relevant teams