What is Crisis management plan, crisis committee?

A crisis management plan sets out, for defined kinds of crisis (a trading system out of control, a liquidity squeeze, a counterparty failure, a market closure), who decides, what they may do, whom they tell and in what order, with the runbooks and contact lists to do it. The crisis committee is the small group the plan names to take those decisions, with the authority to stop trading, cut positions, move collateral and draw funding without the usual approvals.