Key Takeaways
- Key-person risk audits score every critical function on a 1-5 dependency scale—scores of 4-5 require immediate mitigation.
- Cross-training through documentation, shadow training, supervised execution, and independent execution builds redundancy.
- Business continuity plans address temporary absence, permanent absence, and market disruption scenarios.
- Most real estate businesses have zero continuity planning—a basic BCP can be created in one day.
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Test Your Knowledge
1.What score on the key-person dependency scale requires immediate mitigation?
2.What are the four phases of cross-training?
3.What three scenarios should a business continuity plan address?