Criticality and severity are two concepts everyone concerned with risk management should spend some time integrating into their processes. These two words are more than just concepts, they are tools for thinking and decision making that should be in everyone’s toolbox.
We can use either of these two tools one by one to understand more about how events may affect us, or we can use them together, as an integrated framework for thinking and to understand how we should prepare for and react to risk events. Criticality and severity travel well - they go beyond any one area of risk management. They are most commonly used in crisis management planning and business continuity, but may be used to good effect in every area of risk management.
This article was originally published on April 4, 2018 as a special analysis available to subscribers to
Erudite Risk's Korea Risk Monitor report. It was written by and Rodney J. Johnson and Kyle L. Johnson.
While recent developments are promising, it is important to keep in mind that nothing of real import has changed as of yet and that we are a long way from reaching a stable end to this crisis.
When preparing for any crisis, good planning processes make for good crisis management plans. Planning for a potential crisis on the Korean Peninsula is no different. Following the best practices of analysis, preparation, and good decision-making can lead to the best possible result regardless of what kind of crisis our organization ends up facing.
This article provides fundamental guidance and assistance for preparing a crisis management plan (CMP) for a conflict on the Korean Peninsula. The different components of it should help you to understand not only what should go into your crisis management plan, but also how to make a better plan and how to execute it better. It is the internalization of the lessons of a potential conflict on the peninsula, and not just the mechanics of the plan, that will ultimately enable you to make better decisions and maximize your opportunities for safety and security in a time of crisis.