There are many resources needed for a business to remain viable.
NORMAL RISK ASSESSMENT SECTIONS need a structured 'Disater Recovery' plan after making a SWOT analysis of each issue. Some headings are listed below:
Business Structure
Shareholder Protection - Equity Shares / Profit Shares allocation to Owners & Employees
Key Man Insurance's - to fund "Buy & Sell" Agreements and a 'replacement person'.
Succession Plans - Capital needs / Mentoring replacements / Agreements on the "get out" plan / Tax aspects.
Development / Evolution: Future Business Plans
Growth: Getting 'critical mass', Risks of Purchasing "Past Business" problems.
Joint Ventures - Agreements, Project Guarantees & risks
Contractors - Invoices & Contract Wordings
Personal Guarantees - By Owners / from Debtors
Isolating Personal Assets from current Trading Risks: Is your home or other property at risk?
Isolating Business Assets from current Trading Entity: Perhaps rent Stock/Contents/Property owned by another entity.
Staff
Pre-Employment Vetting
Social Style
Learning Style
History
Job Descriptions / Performance Standards
Award Conditions / Terms
Training
Disciplinary Procedures
Steps to Dismissal: Written& Signed Notices.
Staff Benefits funding on leaving: Long Service / Sick Pay / Holiday Pay / Wages in Lieu of Notice/ Super Benefits / Life cover continuation option / Profit & Equity Shares purchase agreements.
Plant
Item Sheets Item Owned Cost
Insured
Function
Age
Condition
Fault
Cause
Loss of Profits
Action
Repair
Replace
Transport/Add Costs
Insured: Y/N Proximate causes of Loss:
Stock
Item Sheets
Raw Materials Inventory
Stock Minimum inventory for re-order
Stock (work in progress)
Stock (finished products)
Alternative source of supply
Cause of Loss:
Own Cost / Insured Cost
Minimum Stock Limit
Loss of profits potential
Action
Source of replacement
Transport Costs
Insured: Y/N Proximate Causes of Loss:
Premises
Alternative Premises
Alternative Workshop
Alternative Bundy facilities
Costs of "new" set-up
Risks of new Premises ( incl. Physical risks, Pollution)
Costs: eg Local and State approval & Licences.
Communication
Mail
Courier
Phone
Internet
Power Supply
At Head Office
At a temporary work site.
Potentials for "Loss of Profits" during Current Project
Transport
Own Unregistered Vehicles (Unregistered Vehicle Permits)
Own Registered Vehicles
Maintenance Schedules
Contract Carriers
Fuel Availability
Insurance needs:
Finance
Cash: On premises/ in transit / at home overnight
Future spending needs: Current Source Costs / Alternative Sources / Security of Lender / Terms of Loans
Bad Debts and credit control: Clients Credit checks / Personal Guarantees / Retention of Title until Paid.
IT & Intellectual Property
Cyber security/Back-Up copies / legal ownership protection/ Copywright / Patents
Warranty
Need for "Recall" contingency reserves / Warranty Insurance
Contract Liability
Period of Responsibility
Penalty clauses
Legal Liability
- is usually considered in connection with:
* Injury & loss that may result from defects in premises owned or occupied.
* Employers liability for injury to Employees and “deemed” Employees.
* Employees liability not covered by an Employer/Employee Contract.
* Manufacturers and “deemed” manufacturers are also responsible for the “nature,
quality or condition” of goods and services supplied by them.
* Directors and Officers have possible “Personal” liability.
Security
Physical (Locks /Gates/Fences/ Doors/Lighting/Alarms/CCtv & visitor induction)
Legislation
Local Government: Zone Approval
Fire Brigade: Ordinance 70
State & Federal Government: Statutory Insurances like Workers Compensation Etc. (Wages S.174 of NSW Act)
Occupational Health & Safety
EPA
Superannuation
Compulsory Third Party +Unregistered Vehicles need U.V.P.
Unions: policy and proceedure
Solicitor - Legal Fees funded / insured
Accountant - Tax Audit costs funded/ insured
Tax
Capital Gains/Fringe Benefits/Death Duties.
Loss Of Profits - Following any event identified
Loss of Clients/Markets
Other Costs - Waste Disposal , Clean up costs.
Major Disaster Events - Recovery Plans
