CONTINGENCY PLANS

Contingency planning for climate change considers both current and future risks related to the changing climate, and both gradual changes and extreme events. These plans aim to reduce risk by enabling a rapid, organised response. Having appropriate contingency plans in place for spillages, pest and disease outbreaks, extreme weather . No one wants to contemplate the worst-case scenario, however, being prepared with a disaster recovery plan could give you the upper hand when it comes to emergencies. At Hall Cribbs Drilling, we’ll put your plans into action within hours of an emergency concerning power or temperature. When taking risks in business, it's not always possible to foresee their effects, but you can minimise potential problems by using a contingency plan. Contingency plans form an essential part of risk management, yet they can look very different depending on the circumstances. To plan for contingencies, it's helpful for you to understand what different scenarios might look like and how to plan for them. In this article, we answer the question 'What are contingency plan examples?' and break down some of these examples to explain how this process can develop different organisations and events.

What are the benefits of continuity planning for your business?

All businesses are alike, in that a break in operations can have a detrimental effect on many operational elements. By planning ahead, you can ensure business continuity if you encounter equipment breakdown, floods, fires, storms, or power outages threaten your operations. We’re experts at thinking about the steps ahead, to limit and prevent these kinds of things damaging your business. By opting for contingency planning through cribbs drilling, if the worst does happen, we can put our experts and equipment into action – swiftly and safely. Talk to us about your needs and we’ll work out the best contingency measures to put into place for your power, cooling or heating problems.

Benefits of contingency planning

Contingency planning in the forestry sector can minimise impacts to the natural environment and wider social and economic environment and allow forests to continue to meet the desired range of management objectives, allowing a quicker return to normal service. Benefits of contingency planning include:

  • Advance agreement of when and how to respond to threats and risks
  • Set thresholds for decision-making
  • Key players have been identified and assigned responsibilities
  • More likely to produce financial savings
  • Increase response rates
  • Reduce recovery time

Contingency planning and insolvency challenges

When a company is in financial distress, they often need a ‘plan B’ in place to protect value for all stakeholders. While the causes of financial distress may differ, experience has shown the benefits of appropriate contingency planning in terms of value preservation. Contingency planning has become even more important today with more complex capital structures and volatile financial markets. A well-designed contingency plan identifies the drivers, relative costs, and benefits between a consensual solution and an enforcement-based strategy.

How can we help?

The breadth of insolvency skills within Deloitte enables us to design detailed and viable solutions which can be delivered across borders, industries and processes. The fundamental elements of our approach are:

  • Working alongside our M&A advisory team to establish alternative strategies
  • Identify key concerns and manage the stakeholders throughout the process
  • Work with tax and legal advisers to devise a practical implementation plan
  • Delivery of the insolvency based solution
  • Project manage the wind down and closure process
  • Act as liquidator and/or provide hands on implementation support
  • Ensure continuity in leadership and expertise by drawing on the relevant expertise from the Deloitte network

With our power, heating and cooling disaster recovery plans, if an emergency occurs, all you need to do is call. Our expert engineers are on standby, ready to get to work on; delivering the equipment, getting it running and staying by your side every step of the way with our contingency planning services.

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