Mitigation Strategy

Once you have completed your analysis and identified those areas where your business is most at risk, decisions have to be made. What can be done to protect the business operation? Eliminate as many of the hazards as possible or mitigate the effects of hazards that cannot be eliminated.

This is your Mitigation Strategy. There are many possibilities, so it is likely that any strategy adopted will have a number of approaches. Some items may be completed through memos, policy changes or training. Other items may involve expenditures that must be budgeted for over time. Whichever is chosen, there are certain considerations to bear in mind. Benefits to businesses from mitigation are not limited to a reduction in facility damages. The truly cost-effective benefits include:

Increased life safety for employees and customers,
Reduced down-time in productions,
Protected information systems,
Reduced damages to facilities and nonstructural components,
Reduced damages to vital equipment, and
Enhanced insurance coverage or reduced insurance deductibles.

Section III discusses the benefits and elements in a Mitigation Strategy including the following:

Human Resources Policy and Procedures: Awareness and Reporting Policies;
Employee Training;
Employee/ Family Preparedness Programs;
Security Issues
Protection of your Facilities/ Physical Property from Water, Wind or Fire Damage;
Protection of Data - Backups, Software and Policies; and
Business Insurance