The basics of a crisis management plan

1. Identify your crisis leadership team

Before you can take the first step in crisis management planning, choose a team of leaders to collaborate with during the crisis planning process. Your team should include the people who will take action during a crisis. Put this team together at the very beginning of crisis management planning so everyone knows the ins and outs of your crisis strategy. 

2. Assess risk

To begin the planning process, have a brainstorming session to assess various risks your company may face. As mentioned above, you can kick off your brainstorming session by looking at risks associated with your job field. 

Use a risk register to identify and analyze the probability of risks occurring. A risk register can eliminate progress delays and prepare for potential setbacks. It can also help you visualize which risks are most likely to occur so you can plan a response for these risks. 

3. Determine the business impact

Once you’ve identified the high-probability risks that could affect your company, determine the business impact of these risks with the help of your crisis leadership team. Each risk can cause different outcomes, so it’s important to analyze them separately. Potential business impacts may include customer attrition, damaged reputation, delayed sales, lost income, or regulatory fines. 

4. Plan the response

Next, take each risk you’ve identified and determine what actions your team would need to take to respond to the threat if it does happen. For example, if you work in software and your company experiences a cyberattack, you may need someone to secure the network, someone to release the news to your customers, and another person to handle damage assessment.

5. Solidify the plan

Once you’ve verbally made sense of the threats your company may face, the business impact, and how to respond, solidify your plan. A crisis management plan is more than a written or verbal strategy. It should include key items such as an activation protocol and emergency contacts, which we’ll discuss in more detail below. You’ll also need to collaborate with key stakeholders so that everyone understands what to do and when.

6. Review and update

Once your crisis plan is complete, review the final product to ensure there are no gaps. Revisit your crisis management plan and update it at least once a year because potential risks can change with time.