Pre-Incident Risk Analysis & Mitigation: A Key Component in the Business Continuity Planning & Recovery Process

The Semiconductor industry has exceptionally high exposures to many risks driven by the nature of its highly specialized and fast changing technologies, short product life cycles combined with tremendous time pressures, and its reliance on many hazardous materials and processes. Even so, most companies tend to assign a lower priority to exposures from physical risks, focusing instead on business needs and the constant pressure to deliver quality products and reduce costs. In many cases, management at the upper levels is not aware nor convinced of the vulnerabilities and potential impact presented by the physical risks exposing their operations. One proven risk management approach to evaluating and implementing strategies to reduce most types of risks is the development and implementation of the Business Continuity Planning & Recovery (BCPR) Process. The BCPR Process can help raise awareness to the many risks facing semiconductor-related operations. This in turn assists in establishing mitigation plans (prevention) and business recovery strategies (rapid recovery). This paper is part one in a series that discusses the Pre-Incident elements of the BCPR process. This paper focuses on the Pre-Incident Risk Analysis and Mitigation components.