Recovery may be the last phase in the circle of emergency management, but it certainly doesn’t have to be the last phase to be implemented. When should recovery begin? As soon as possible and sometimes that means 10 minutes after the “big bang” occurs. You don’t have to wait til the emergency or disaster event is over before your CFO starts taking action. One of the biggest things your CFO can do is meet with the rating companies (think Moody’s and S&P) to ensure that your credit rating stands. If you have a good EOP (emergency operations plan) and you can show the rating companies what your going to do, this may buy you all the time you need to make a full and prosper recovery. If you can keep your credit rating up, well then, you may never recover from a disaster events.
The next time you and your staff start to plan for emergencies, try to think differently about recovery phase, how you implement it and when you implement it. This simple change in philosophy may be all you need to go from being controlled by your destiny to controlling your destiny.