by: Ben J. Carnevale, Managing Editor
Wherever applicable, many organizations might well need to have solid business continuity plans and strong risk management teams in place to deal with the federal government shutdown.
One of most important things an organization may need to with the federal government shutdown is to consider the risks posed to that organization under such shutdown conditions.
One example might be that of a multi-national manufacturer working closely with the Department of Energy, Department of Defense and/or the intelligence community — one of the first things such a manufacturer might do is to take the threat of a government shutdown and place it on their “risk register” or any kind of identifiable early warning system that their business continuity plan might have for putting their organization on notice or at least putting this potential incident on the agenda for the next BC/DR or disaster preparedness team meeting.
Some considerations for that organization to consider might be better focused by answering questions like the following:
- Is this federal government shutdown something that would or could be an impact to our business?
- If yes, what are the potential high-impacts and/or high-probability impacts?
- How could our company’s forecasted revenue and cash flow forecast be impacted by such a potential impact?
- From a contractual standpoint, what impacts should our organization be prepared to address?
- Would or could there be any fines or “brand name” equity losses to consider?
- If any or all of the above questions apply, what needs to be done by the organization to mitigate such a potential risk? Who will be responsible and accountable for those potential actions? And, at what cost?
If your disaster preparedness team is not already addressing this potential risk mitigation opportunity, and this federal government shutdown might have some impact on your company, then, our staff recommends that you please pass this information along to the BC/DR and or disaster preparedness team members in your organization —-and, encourage them to be watchful of developments so as to avoid any potential high impact negative influence on your organization.