Contingency Plan Template can be downloaded here. A contingency plan is a plan created or designed to take an account of a feasible future circumstance or event. In other words, it is a plan devised for a result other than in the general anticipated plan. It is often utilized for the management of the risk, when an extraordinary risk and danger that would contain disastrous results. These plans are often developed by the businesses or governments. For instance, assume various employees or workers of an organization are moving together on an airplane that crashes, destroying all aboard. The organization could be extremely strained or even destroyed by such kind of a loss. For that reason, various organizations have processes to follow in the case of such kind of disaster or tragedy. The plan may involve as well standing policies to alleviate the potential impact of a disaster, like wanting workers to move separately or restricting the number of workers on any one airplane. We do hope you will like this Contingency Plan Template.
A contingency plan is a road map of a strategy or procedure which prepared by company in an unexpected situation. A contingency plan may prepared by company to manage any unwanted happening such as fire, death of an executive manager or robbery etc. A contingency plan is usually prepared for a negative event, but can also be prepared for an unexpected windfall such as a huge order of production. Other name of contingency plan is “plan B”. Through the times of disaster in a business, contingency plans are often developed to explore and prepare for any possibility. A well prepared and an effective contingency plan identifies who is responsible for what in the face of disaster or unwanted situation. A best contingency plan in place enables faster reaction to unexpected events and may reduce the damage to revenues and profit of the company.