Business Continuity Management - Essay Example

After declaring this, the BP management team seat and approximated the cost and the number of the day the whole process would take place. They came up with an approximation of ninety days and forty billion as the cost through seeking money from other companies.

            According to Bryant & Hunter (1-2), BP started by attempting to install a valve to shut off one of the leaks that were underwater, though, it was a difficult process that they thought would not succeed. Two days later, they had managed to stop oil flow from one of the three leaking points on the riser in the Gulf of Mexico and the spoiled oil well. However, this effort did not solve the overall problem of leakage and they had to improvise another method to solve the problem completely. They came up with the idea of installing a cofferdam at the end of the riser, though; it was not successful because there was the extra formation of hydrate crystals in the dome. This made them use the junk shot method to wad the leak that was undersea by pumping shredded materials into the well at extremely high pressure.

            However, they finally managed to stop the spillage, the Gulf of Mexico oil spill was the best lesson to most of the oil companies in the world.