Page 48 - Petrosphere - Loss Control Management (LCM) Training Manual V 1.0

47 Module 4: Disaster Management Loss Control Management (LCM)

Why do we need to have Disaster Management Plans?

Reason for developing a Disaster Management Plans vary from organization to organization, and

may include one or more of the following:

• Avoid loss of market share
• Protect interests of employees and other stakeholders

• Meet regulatory requirements
• Meet contractual and service-level agreement requirements
• Provide for the safety of employees and others
• Survival of the organization might depend on it

• Protect the bottom line
• Preserve stakeholder confidence in the organization
• Keep up with competitors
• Experience
• Maintain capability to continue or quickly restore operations

• Reduce liability exposures
• Moral, ethical reasons

Republic Act No. 10121

This RA is also known as the “Philippine Disaster Risk Reduction and Management Act of 2010.”
This was approved on May 27, 2010 and was effective starting June 24, 2010. It is an act strengthening

the Philippine Disaster Risk Reduction and Management System, providing for the National Disaster Risk
Reduction and Management Framework and institutionalizing the National Disaster Risk Reduction and
Management Plan, appropriating funds therefore and for other purposes. The basis for this Republic Act
is the Hyogo Framework of Action (HFA) with the following priorities for action:

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