P2R2 is an all-hazards approach for incident management. The 'all-hazards' approach refers to the concept of being prepared for any eventuality or a range of different incidents, rather than training and preparing specifically for one type of incident.
For example, trained, well-equipped fire wardens will be a useful part of a response to an improvised explosive device attack, earthquake, fire, bio-hazard event, or any emergency evacuation scenario. Equally server backups and restore drills will help prepare for restoring data systems no matter what the source of a data loss.
All four stages can occur concurrently, albeit with probably a different focus at different stages, whether pre-event or post-event. There are variations on this P2R2 model but the following is a well known version.
Prevention - take actions to reduce or eliminate the likelihood or effects of an incident. Learn more about preparing a risk management plan.
Preparedness - take steps before an incident to ensure effective response and recovery. Read about conducting a business impact analysis.
Response - contain, control or minimize the impacts of an incident. Learn more about preparing an incident response plan.
Recovery - take steps to minimize disruption and recovery times. Read about developing a recovery plan
For more information see: https://resilience.acoss.org.au/the-six-steps/leading-resilience/emergency-management-prevention-preparedness-response-recovery