Incident management should be a core competency within any organization. Without an effective incident management program, an incident can disrupt business operations, information security, IT systems, employees and customers. Worst case scenarios include loss of human life, irreparable damage to assets, and degradation of the environment. Uncontrolled incidents result in financial losses, reduced stakeholder credibility, and diminished brand value.
For example, BP agreed to pay $18.7 billion to settle all federal and state claims arising from the 2010 Deepwater Horizon oil spill, including the biggest pollution penalty in U.S. history.
Despite the crucial nature of incident management, many organizations still lack a structured approach to address unplanned activities and events.
The essential elements of an effective incident management software program include consistent policies, processes and procedures across businesses, assets, or locations; organizational training and readiness to respond to incidents; an incident management information system to report, investigate, correct, report, and close out incidents; and a single, centralized depository for storing and analyzing incident patterns and trends over time.
One of the best option would be to implement regulatory compliance software that is fully automated and highly configurable.
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