Restarting your business operations will
require careful planning and risk management activities to ensure ongoing
objectives are met.
Strategic objectives and risks
should be reviewed and updated to ensure changes in the environment are
considered (i.e. the “new normal”).
Identify prerequisite conditions
that need to occur before operations are resumed, and consider the breadth and
timing of operations to be resumed.
Financial planning tools such as a
13 week cash flow report will be essential to guide the organization through
the restart period and beyond. Many of
the operational restart requirements may cause additional expenditures, and it
may take time for business activity to ramp up.
The organization must have careful financial planning and controls to
ensure they remain solvent during this time.
The 13 week cash flow report
summarizes expected expenditures and receipts to allow management to project
and address potential liquidity crunches.
The model should be updated with all known operating expenses, including
new expenses that might be incurred to allow the business to reopen, such as
additional cleaning and sanitation procedures.
A variety of operational changes may
be required to support resumed business operations and processes, including:
Physical Interfaces – physical access by
suppliers and customers
Supply chain – assessment of supply chain
readiness and capabilities
Communication – both internal and external to
staff, customers, suppliers
Keep in mind that every organization is different, and will
have different risks and different procedures to help manage that risk.
We help organizations of all size develop
processes to identify and address risk to their operations.