Although the terms sometimes are used interchangeably, contingency planning is a specific type of scenario planning. Scenario planning usually anticipates gradual change, such as a loss of revenue over time. Contingency planning is for a sudden, drastic turn of events.
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Answer:
Although the terms sometimes are used interchangeably, contingency planning is a specific type of scenario planning. Scenario planning usually anticipates gradual change, such as a loss of revenue over time. Contingency planning is for a sudden, drastic turn of events.