Blog

Event Management

Managing and resolving high-effect occurrences

Event management is the process applied by Kayndrexsphere teams to respond to an unplanned event or facility interruption and restore the facility to its operational state.

Kayndrexsphere defines a high-effect occurrence as an emergency-level unavailability of facility.

The definition of emergency-level varies across firms. At Kayndrexsphere, we have three severity levels and the top two (SEV 1 and SEV 2) are both considered major occurrences.

If an investor-focused facility is unavailable for all Kayndrexsphere investors, that is a SEV 1 event. If the same facility is unavailable for a sub-set of investors, that is a SEV 2. Both are within the heading of major occurrences and require an immediate response from our event management teams.

Any concern that links with essential operations is considered a SEV 3 and is an inessential event.

The event lifecycle (also sometimes known as the event management process) is the path we take to identify, resolve, comprehend, and prevent repeating events. 

Event management processes vary from firm to firm, but the key to success for any team is clearly defining and communicating severity levels, priorities, roles, and processes up front — before a major event arises. 


Kayndrexsphere’s major event management process

At Kayndrexsphere our event management process includes detection, raising a new event, opening communications, assessing, sending initial communications, escalation, delegation, sending follow-up communications, review, and resolution.

Detection

First, an event is detected either by our technology, investor reports, or personnel. Whoever detects the event is responsible for logging the event in our system and identifying a severity level. 

By the time an event reaches our teams, it has already got a SEV 1, 2, or 3 attached. We consider SEV levels 1 and 2 to be major events, while a SEV 3 indicates an inessential event.

Raising a new event

Once an event ticket is created, a notification is sent to the on-call professional responsible for that facility. 

The alert we send at Kayndrexsphere includes information on the severity and priority of the event, as well as a summary, making it clear — at a glance — whether this is the top priority or can wait if another event is in progress.

Opening communications

Once the event manager gets an alert, their first sphere responsibility is to communicate that the event fix is in progress. They change the status of the event to fixing and set up the team’s communication channels.

Assessment

The event manager has been alerted and the communication channels are open. Next step: assessing the event itself. 

For our teams, this process starts with a series of questions the team has to answer:

  • What’s the effect on Kayndrexsphere’s investors and personnel?
  • What are investors seeing?
  • How many investors are affected? (Some? All?)
  • When did the event start?
  • How many support inquiries have been opened with regard to this event?
  • Are there other factors at play that affect the severity level or priority or change the way we approach the event? (E.g. security concerns, social media PR emergencies, etc.)

Once we have answered those questions, we can confidently move forward with diagnostics and proposed fixes or change the SEV level and priority level of an event as needed.

Sending initial communications

Once we have confirmed that the event is real, communication with our investors and personnel becomes top priority. As we describe:

‘The goal of initial internal communication is to focus the event response on one place and remove uncertainty. The goal of external communication is to tell investors that you know something is interrupted and you are looking into it as a matter of urgency.

Speedy, accurate communication assists build and keep investor trust.

We send an email to a set list of investors that includes our engineering leadership, major event managers, and other key internal personnel.

Escalation

Sometimes, an event is resolved quickly by the on-call team. But in other instances, the next step is to escalate the concern to another expert or team of experts better suited to resolve this specific event.

Delegation

Once the concern has been escalated to someone new, the event manager delegates a role to them. At Kayndrexsphere, these roles are pre-set, so team members can quickly comprehend what is expected of them.

Sometimes major events require a single event manager and a team. Other times, a situation could call for multiple tech leads or even multiple event managers. The original event manager is responsible for ascertaining when that is the case and bringing on the appropriate people.

Sending follow-up communications

As the event continues to progress, another round of external communication will assist keep investors and personnel calm, trusting, and in the loop. 

Review

When it comes to event resolution, there is no one-size-fits-all. Which is why at this stage of the process, we take the time to:

  • Observe what is going on, sharing and confirming observations with the team
  • Develop theories with regard to why it is happening (and how we can fix it)
  • Develop and implement experiments that prove or disprove our theories
  • Repeat 

All through this process, the event manager keeps an eye on how things are going.

Resolution

We define resolution as ‘when the current or imminent sphere effect has concluded.’ 

At this point, the emergency has passed and the team transitions into clean-ups and analysis.

Analysis

Our event lifecycle concludes when the event is resolved. However, we also want to do everything in our power to ensure an event is prevented from happening again. Which is why the next step is an analysis, designed to identify the cause of an event and assist us moderate our uncertainty in the future.


Roles and responsibilities

Roles and responsibilities will vary based on the firm’s culture, team size, on-call schedules, and more. Some common major event roles include:

Event manager: The person responsible for overseeing the resolution of the event.

Technical lead: A senior-level technical professional responsible for discovering what is interrupted and why, determining the best course of action, and running the technical team.

Communications manager: A communications professional (often from the PR or investor support teams) responsible for communicating with internal and external investors affected by the event. 

Investor support lead: The person in charge of making sure incoming tickets, phone calls, and tweets of the event get a timely, appropriate response.

Social media lead: A social media pro in charge of communicating of the incident on social channels.

Other common roles include: 

Root cause analyst or topic manager: The person responsible for going beyond the event’s resolution to identify the root cause and any changes that need to be made to prevent the concern in the future.

Major event investigation board: A group responsible for investigation and change management.