Contingency planning

Contingency planning involves the preparation of steps to be taken in the event of an emergency. The main objectives of contingency planning are to avoid the loss of life and assets, as well as to ensure the ongoing operation of a business. A contingency plan assumes that a disruption, such as flooding or a fire, will occur from time to time, and provides an action plan for what to do after the disruption has occurred. A risk mitigation plan may include contingency plans for a number of different events.

Related Courses

Enterprise Risk Management