Crisis management and response
- What is your company’s readiness to react and respond to COVID-19 … and the next pandemic risk event?
- Where are the repositories of data (such as inventories of third-party vendors) across the company that will need to be managed throughout the crisis?
- Given the reliance placed on third parties, what is the state of your top third parties’ crisis management and business continuity plans?
- Is your company prepared with plans to deal with longer-term disruptions based on a pandemic risk event?
- How is the company monitoring and acting on guidance and requirements from outside authorities, such as the World Health Organization (WHO) and Centers for Disease Control (CDC)?
- How are you communicating internally and externally:
- How is your company adapting its crisis management communication plan specifically for a pandemic risk event?
- Has the board been kept apprised of the pandemic’s impact on key business risks and strategy?
- How is the company monitoring external news and escalating appropriate information to decision-makers?
- Is management aware of regional offices, vendor partners or other relevant third parties that are appearing in the news related to the pandemic risk event?
- How are inquiries from the press and other third parties being managed and monitored?
- Does your company have a geographic-based mobility strategy and plan to move to a fully remote workforce, and does it support a long-term mobility situation for employees?
- Have employees been adequately trained on how to work remotely?
- Is there a mobility playbook that employees can reference to stay aligned with company guidance?
- Is the IT, video and telecom infrastructure adequate to support the remote workforce for a sustained period of time?
- Are there processes that can monitor employee productivity while remote?
Operations and supply chain
- How is scenario planning being leveraged to help management understand the operational impact of pandemic risk?
- Which alternative suppliers can you turn to in case there’s significant disruption to the supply chain, and are there substitution plans for parts and raw materials?
- What readiness plans do priority suppliers and other third parties have in place to protect themselves and maintain creditworthiness?
- Has an impact assessment been completed for significant projects (e.g., M&A activity, system implementations, reorganizations) to understand the pandemic impact on their success?
- How are project managers and teams prepared to work remotely? Do they have the right guidelines and tools to keep projects moving forward?