Contingency plans are an essential part of risk management. They help to ensure that you've always got a backup option when things go wrong, or when the unexpected happens.
Contingency planning isn't just about major crises and natural disasters. Every organization faces a unique set of risks that it needs to plan for. They key to identifying yours is to conduct a thorough risk assessment.
Answers & Comments
Answer:
Contingency plans are an essential part of risk management. They help to ensure that you've always got a backup option when things go wrong, or when the unexpected happens.
Explanation:
Contingency planning isn't just about major crises and natural disasters. Every organization faces a unique set of risks that it needs to plan for. They key to identifying yours is to conduct a thorough risk assessment.