Based on our national experience in catastrophic disasters including response and recovery in coastal areas, FEMA, HUD, and other federal agency regulatory compliance, business interruption services, damage assessments, construction management, and infrastructure engineering services related to disasters, the Port of New Orleans engaged Plexos subject matter experts to perform several critical functions as part of its disaster recovery preparation and response program.
Our subject matter experts are tracking loss revenue, conducting an initial risk/benefit assessment and documenting business interruption losses. Plexos also plays a key role in documenting FEMA, HUD and other funding eligible reimbursements, furnishing extensive reporting and analytics, and providing staff as requested to execute the project and to assist with any other port activities as needed. Our business interruption, FEMA funding, HUD funding, and other recovery subject matter experts assist the port in determining areas of risk and loss from an event, as well as strategies for mitigating risks, associated costs, and the potential for reimbursement from various public funding sources. The team develops project plans to capture costs and reductions in revenue, while providing regulatory guidance for eligible expense reimbursements. As part of our business interruption mandate, the team is documenting revenue and expenses before and after an event, conducting total loss impact studies, determining restarting of operations planning and associated costs, and providing financial impact calculations and documentation.
To assist the port in documenting FEMA, HUD and other funding eligible reimbursements, we are auditing existing documents and accounting systems, documenting eligible reimbursements, preparing project worksheets, drafting grant applications and assisting with submittals and appeals as needed. By providing information systems and support for the system of record, we ensure the port is capturing all information necessary for the program. We regularly provide dashboard reports and analytics for the project and prepare detailed reports for various stakeholders as requested.
Within our contract with the port, Plexos is augmenting staff immediately upon notice to execute the project and to assist with any other port activities as needed. We have also been assisting the port with its claims for COVID-19 impacts.