How do you create a backup plan for when things go wrong?

1 Identify the risks

The first step is to identify the possible risks that could affect your goals, objectives, or outcomes. You can use various tools and methods to do this, such as brainstorming, SWOT analysis, risk matrix, or scenario planning. The key is to consider both internal and external factors that could cause problems, such as technical issues, human errors, market changes, legal regulations, or natural disasters. You should also prioritize the risks based on their likelihood and severity, so you can focus on the most critical ones.

2 Develop the alternatives

The second step is to develop alternative solutions or actions that you can take if the risks materialize. You can use your creativity, experience, and knowledge to come up with different options, such as changing the scope, timeline, budget, or quality of your project, product, or business. You should also evaluate the pros and cons of each option, as well as the resources and requirements needed to implement them. You should aim to have at least two backup plans for each risk, so you can have more flexibility and choice.

3 Communicate the plan

The third step is to communicate your backup plan to the relevant stakeholders, such as your team, clients, partners, or suppliers. You should explain the rationale behind your backup plan, the triggers and indicators that will activate it, and the roles and responsibilities of each party. You should also solicit feedback and suggestions from your stakeholders, as they may have valuable insights or concerns that you need to address. You should document your backup plan in a clear and concise format, such as a checklist, flowchart, or spreadsheet.

4 Review and update the plan

The fourth and final step is to review and update your backup plan regularly, as the situation and the environment may change over time. You should monitor the progress and performance of your project, product, or business, and compare it with your expected outcomes and assumptions. You should also track the changes and trends in the external factors that could affect your backup plan, such as the market, the competition, or the regulations. You should revise your backup plan accordingly, and communicate the changes to your stakeholders.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?