Abstract. Asset, infrastructure and business can be destroyed in a split seconds. It only takes a minute for natural disasters such as flood, hurricane and others to happen that will stop the business process and destroying the business as well as their assets. Late response towards the disaster will bring disastrous impact not only to the people but also the social and economic of the impacted people and area. It is therefore important for the organization to ensure speedy recovery of the disaster's impact such as the assets in an effort to ensure the business survival and facilitating societal and economic recovery. Therefore this paper examines the state of knowledge in relation to the asset management recovery especially after the disaster. Following to that, this paper will discuss the literatures involves in asset management recovery such as disaster management and business continuity plan (BCP). Towards the end, this paper suggests that the effect of lack of planning in asset management recovery will lead to an untold damage towards the community, organization as well as the business, taking months or even years to rectify. In some cases, businesses are shut down for goods due to loss data as well as other emerge problems cause by the disaster.
Keywords: Asset Management Recovery, Business Continuity Plan (BCP), Disaster Management, Flood
IntroductionPhysically, Malaysia can be considered as one of the blessed countries because of its geographic location that prevents it from the threat of severe natural disaster like volcanic eruptions and cyclones [1]. However, it has its own fair share of the environmental perils such as flood. Malaysia is well known as a country that is prone to major flooding event that occurs once a year due to the northeast monsoon that bring heavy downpour. Due to its nature, lots of lives, assets, building, infrastructure and environment have been damaged. Although the disaster occurs in a split seconds but the impact that it leaves are tremendous and may take years to rectify. Moreover, the vulnerability of the community is increase when they choose to construct houses near the rivers and along the coastlines.Nevertheless, due to its relative regularity that always appear from November to March each year made actions such as flood mitigation, forecasting and warning systems have been undertaken to minimize the impact of the disaster. However, despite numerous planning and preparation, it is believed that the present countermeasures are far from sufficient. This is shown in the recent management of the flood disaster that happen during December 2014 to January 2015 flood crisis. During the crisis, as many as 250,000 people need to be placed at the evacuation centre and great efforts have been taken to reduce the impacts that it caused such as the disruption of the victims life, the health issues, the polluted environment (due to the mud comes from the flood) and the massive costs encompass in the redevelopment of the assets and infrastructure. It is reported by [2] that the estim...