From contingency planning in times of change and uncertainty to risk control

Abstract

It is said that: "Nothing is permanent, except change." Indeed, at best the changes can be gradual and predictable; however, in the current era, most changes happen at unprecedented speeds, altering the status quo and placing organizations in conditions that can be favorable or unfavorable, depending on each particular case. The planning process, which incorporates uncertainty, must include several scenarios that include different contingency plans, that is, create short and long-term analysis models based on speculation about the behavior of different variables that may affect the company. . The more changeable the environment, the greater the need for a wide range of settings; more contingent plans must be generated to be prepared for the emergency. The COVID-19 crisis has made visible the importance of risk control and internal auditing in companies.