Life Continuity Plan (LCP)

Ever heard of Life Continuity Plan (LCP)? LCP is a term defined by myself. Like in any businesses, the need to have a business continuity / disaster recovery (BC/DR) plan in place is essential to ensure critical business processes can still function in times of unexpected events or disasters. Singapore is the first country in the world to introduce a Standard and Certification programme for BC/DR service providers. With such certification, it provides confidence to clients when tapping onto the expertise of such certified service providers.

In life, I believe to a certain extent, one needs to have such a similar strategy in place for survival in this very unpredictable world. Everything or/and anything can just happen any time and once impact is felt, the impact can be irreversible. That's when LCP is activated. Identified risks defined earlier during the risk mitigation stage are assessed using methods like balanced scorecard. By definition, risk is defined as the factor between probability and impact. If both probability and impact are high, risk will be high. When risk is high, we will need to decide if it is worth taking the risk.

Life is all about emotions whereby people tend to be more subjective rather than objective. Some may argue LCP can be too scientific and may not be applicable and realistic.

So, is life an art or a science?