HRM 420 Week 5 Individual Assignment Paper Appendix B Contingency Plan Evaluation 1

Topics: Management, Risk, Financial risk Pages: 7 (1480 words) Published: July 6, 2015


Contingency Plans
Name
HRM/420
Date

Contingency Plans
PLAN A
Facility System Contingency Plan
Introduction
I decided to choose on a contingency plan for a facility system. The plan would serve as a repository for information that is centralized. It would also cover procedures and tasks necessary in facilitation of facility system’s management decisions. It would also be fundamental in responding to any extended interruption of the normal business of the department in both operations and services (Thomas, 2002). It is necessary because of the interruption in a way that some prompt resumption involving operations is not able to be accomplished if only daily procedures in operating are employed. The plan is essential in financial and personnel resources. The plan will be fundamental in covering a wide range of risks. The main risks will be those within the facility. On the other hand those risks that emanate from outside the firm will also be determinants of the general welfare of the company. It is important to identify the specific risks and evolve some mitigation measures in making them manageable. The main risk will be financial risks. This will be a risk that the management will have to consider so that it does not fall out of hand (Phillip, 2007). It will be important to address the matter since finance is the pivotal department within any department and if it is not controlled, the firm will face a risk of mismanagement. Some other risks will also come from outside the firm. Many of them will be as a result of the natural calamities that might occur in the area. Examples of such risks will include floods, drought and many others. It will not be adequate for the facility to have the positive satisfactory results it will be seeking for, given the condition happening. In such situation, it will have to incur some other expenses in trying to keep the situation under control. The plan adequately covers the risks identified. This is because it has addressed all the important stakeholders, and tried to identify measures in which it could efficiently manage them. It has clearly specified the welfare of the personnel and the management in general. Any vital information that can be fundamental in the general activity has also been included in the plan. The plan also clearly specifies the objectives of the management in the whole activity. It has also indicated that the matter of security for all the stakeholders has been put into consideration. This is the most vital thing in trying to address the risks that have been identified in the area (Phillip, 2007). The plan is successful in many areas. These arrears include the personnel towards personnel relationship. This is important for maintaining a good working relationship hence increased productivity. The plan also focuses in maintaining the worker management relationship. This is also important in making sure that the workers feel comfortable working with the facility (McConnell, 2007). They can be able to raise any matter comfortably without fear. The last group that the [plan has managed to safeguard is the community. It is important to consider the perspective of the community when dealing with matters directly affecting them. In this plan they have also been included. This also helps in making sure that their trust and ultimate relations towards the firm are maintained and upheld. By doing this, the plan becomes successful and their pursuit for their objectives is clearly supported. The plan is inadequate in areas that have already been developed and does not need any more development. The plan is also inadequate in arrears less hit by risks. In such there are already established contingency measures that are already into shape and can counter any cases of risks that might emanate from the region (McConnell, 2007). The plan does not address business project risk. This is about the income generation of the facility. It is important to note that...
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