From contingency planning in times of change and uncertainty to risk control
Journal: International Journal of Advanced Engineering Research and Science (Vol.8, No. 1)Publication Date: 2021-01-05
Authors : António Rodrigues;
Page : 56-58
Keywords : Planning; Contingencies; Change; Uncertainty. Risks.;
Abstract
It is said that: "Nothing is permanent, except change." Indeed, at best the changes can be gradual and predictable; however, in the current era, most changes happen at unprecedented speeds, altering the status quo and placing organizations in conditions that can be favorable or unfavorable, depending on each particular case. The planning process, which incorporates uncertainty, must include several scenarios that include different contingency plans, that is, create short and long-term analysis models based on speculation about the behavior of different variables that may affect the company. . The more changeable the environment, the greater the need for a wide range of settings; more contingent plans must be generated to be prepared for the emergency. The COVID-19 crisis has made visible the importance of risk control and internal auditing in companies.
Other Latest Articles
- Investigation of Dairy Cattle Concentrate Quality, Traceability & Handling Practices Adopted by Farmers – A Case Study Conducted in Sri Lanka
- A Systematic Review on Industry 4.0 Maturity Metricsin the Manaus Free Trade Zone
- Unveiling the meaning attributed to nursing care at the perspective of person with cancer
- Analysis of Impacts Generated by Oil Spill on the Beaches of Cabo de Santo Agostinho, Brazil
- Oil Royalties in Brazil: Constitutionality X Unconstitutionality
Last modified: 2021-01-13 00:11:50