The Value of Leveraging Y2K Inventory Information for Corporate Risk Management and Model-Based Contingency Planning

Abstract

Congratulations. By now your company has completed (or is about to complete) one of the most difficult and consuming projects in the history of its existence—the dreaded Year 2000 remediation process. If you are like most people saddled with the responsibility of managing corporate risks or ensuring business continuity, you probably can't ignore the nagging feeling that you may have forgotten something. Perhaps you have the uneasy feeling that not all of your suppliers were completely honest with you. Or maybe you can't guarantee that your test plans were absolutely foolproof. Or, if your company recently acquired another entity, you may not be completely certain that they have found and fixed all of their Year 2000 problems. What steps do you take to help ensure that you have filled all of these gaps? What actions can you take to leverage all of the time, money, and energy that has been invested in your company's Year 2000 effort to prepare worst-case scenario contingency plans? Have you considered a model-based approach to risk management and contingency planning?