I recently watched a vendor (title company) handle their second crisis in a short time, earning another "F".  While I find most folks wither while a crisis unfolds, I have a few suggestions for those who need help.

1. Take a deep breath. Relax. Realize that most big problems work themselves out rather quickly. This one will, too, if you keep faith and a positive attitude.

2. Don't point fingers. There is plenty of time for that later, if you MUST. Don't lay blame.

3. Seek first to understand. You may be making the problem larger, or different than it is. Ask all parties involved plenty of questions. Don't shoot from the hip.

4. Focus on the solution. Create and determine your options.

5. If you made the mistake, APOLOGIZE, take responsibility, then fix it. Then apologize after it's fixed. Make sure all parties are "ok". 

6. Handle the crisis face to face, never by email, and only on the phone if you must. The bigger the crisis, the greater the need for a face to face. 

There a few problems which are impossible to fix, especially when everyone rows in the same direction. If someone on your team is always rowing in the opposite direction, throw them out of your boat!