Are you prepared for flooding?

Don’t ignore risks unless you know they won’t occur

Picture of flooding in Ipswich

An item on Monday’s (5th December 2011) “You and Yours” on BBC Radio Four caught my attention. The item was on flooding and how it is becoming more common in the UK; despite the increased spending on flood prevention by the Environment Agency.

Much was said about the impact of flooding on homes and businesses, but one case in particular was taken into greater detail. It concerned a shop keeper whose business was flooded when the local river burst its banks after a period of sustained heavy rain.

The immediate impact was that all the stock was lost and the business had to stop trading. It took six weeks to clear up and start trading again.

The owner had income protection insurance and that paid out pretty quickly. Even so, three years later, the business has still not fully recovered to the position it was in immediately prior to the flood event.

Without knowing more detail, it is difficult to know whether flooding was a risk that should have been considered as part of the Business Continuity Planning process, but it is something that should always be considered: even if only so that it can be positively dropped.

By starting off with a comprehensive list of potential risks, one can then make value judgements about whether the risk is credible. In the case of flooding: if your business is on the top of a hill, then it is likely that the flood risk is very low. But, if you are on the side of a hill with a stream running past the boundary: the risk probability may be higher.

The trick is to start off with a comprehensive list of risks and then only discard individual risks after evaluating the probability of occurence. That way you can be sure that you haven’t missed a low probability but high impact risk.

 


Agdon Associates and Business Continuity UK are no longer in business. This website is not being updated: it has been left online solely as a source of useful information on Business Continuity.

If you found this article interesting, please help me by clicking the Google +1 button and/or the Facebook Like button. If you wish, you could Tweet it as well.
Thank You

Sorry, comments are closed for this post.

Are you prepared for flooding?

Don’t ignore risks unless you know they won’t occur

Picture of flooding in Ipswich

An item on Monday’s (5th December 2011) “You and Yours” on BBC Radio Four caught my attention. The item was on flooding and how it is becoming more common in the UK; despite the increased spending on flood prevention by the Environment Agency.

Much was said about the impact of flooding on homes and businesses, but one case in particular was taken into greater detail. It concerned a shop keeper whose business was flooded when the local river burst its banks after a period of sustained heavy rain.

The immediate impact was that all the stock was lost and the business had to stop trading. It took six weeks to clear up and start trading again.

The owner had income protection insurance and that paid out pretty quickly. Even so, three years later, the business has still not fully recovered to the position it was in immediately prior to the flood event.

Without knowing more detail, it is difficult to know whether flooding was a risk that should have been considered as part of the Business Continuity Planning process, but it is something that should always be considered: even if only so that it can be positively dropped.

By starting off with a comprehensive list of potential risks, one can then make value judgements about whether the risk is credible. In the case of flooding: if your business is on the top of a hill, then it is likely that the flood risk is very low. But, if you are on the side of a hill with a stream running past the boundary: the risk probability may be higher.

The trick is to start off with a comprehensive list of risks and then only discard individual risks after evaluating the probability of occurence. That way you can be sure that you haven’t missed a low probability but high impact risk.

 


Agdon Associates and Business Continuity UK are no longer in business. This website is not being updated: it has been left online solely as a source of useful information on Business Continuity.

If you found this article interesting, please help me by clicking the Google +1 button and/or the Facebook Like button. If you wish, you could Tweet it as well.
Thank You

Sorry, comments are closed for this post.

Are you prepared for flooding?

Don’t ignore risks unless you know they won’t occur

Picture of flooding in Ipswich

An item on Monday’s (5th December 2011) “You and Yours” on BBC Radio Four caught my attention. The item was on flooding and how it is becoming more common in the UK; despite the increased spending on flood prevention by the Environment Agency.

Much was said about the impact of flooding on homes and businesses, but one case in particular was taken into greater detail. It concerned a shop keeper whose business was flooded when the local river burst its banks after a period of sustained heavy rain.

The immediate impact was that all the stock was lost and the business had to stop trading. It took six weeks to clear up and start trading again.

The owner had income protection insurance and that paid out pretty quickly. Even so, three years later, the business has still not fully recovered to the position it was in immediately prior to the flood event.

Without knowing more detail, it is difficult to know whether flooding was a risk that should have been considered as part of the Business Continuity Planning process, but it is something that should always be considered: even if only so that it can be positively dropped.

By starting off with a comprehensive list of potential risks, one can then make value judgements about whether the risk is credible. In the case of flooding: if your business is on the top of a hill, then it is likely that the flood risk is very low. But, if you are on the side of a hill with a stream running past the boundary: the risk probability may be higher.

The trick is to start off with a comprehensive list of risks and then only discard individual risks after evaluating the probability of occurence. That way you can be sure that you haven’t missed a low probability but high impact risk.

 


Agdon Associates and Business Continuity UK are no longer in business. This website is not being updated: it has been left online solely as a source of useful information on Business Continuity.

If you found this article interesting, please help me by clicking the Google +1 button and/or the Facebook Like button. If you wish, you could Tweet it as well.
Thank You

Sorry, comments are closed for this post.