- What are the key elements of any contingency plan?
- What does the term contingency mean?
- What is an example of contingency?
- What is the opposite of contingency?
- How do you use contingency in a sentence?
- What is the purpose of contingency?
- What is another term for a contingency?
- How is contingency cost calculated?
- What is the definition of contingency plan?
- What’s another word for backup plan?
- What is Contingency Plan Example?
What are the key elements of any contingency plan?
The key elements of a contingency plan are “protection, detection, and recoverability.”.
What does the term contingency mean?
1 : a contingent event or condition: such as. a : an event (such as an emergency) that may but is not certain to occur trying to provide for every contingency. b : something liable to happen as an adjunct to or result of something else the contingencies of war.
What is an example of contingency?
Contingency means something that could happen or come up depending on other occurrences. An example of a contingency is the unexpected need for a bandage on a hike. The definition of a contingency is something that depends on something else in order to happen.
What is the opposite of contingency?
Antonyms: appointment, calculation, certainty, decree, fate, foreordination, intention, law, necessity, ordainment, ordinance, plan, preparation, provision, purpose.
How do you use contingency in a sentence?
Contingency in a Sentence 🔉The city’s evacuation plan is designed to be effective in case of any contingency that necessitates a hasty withdrawal. … If a contingency disrupts our outdoor wedding, we have a church on standby.More items…
What is the purpose of contingency?
“The purpose of any contingency plan is to allow an organization to return to its daily operations as quickly as possible after an unforeseen event. The contingency plan protects resources, minimizes customer inconvenience and identifies key staff, assigning specific responsibilities in the context of the recovery.”
What is another term for a contingency?
Some common synonyms of contingency are crisis, emergency, exigency, juncture, pinch, straits, and strait. While all these words mean “a critical or crucial time or state of affairs,” contingency implies an emergency or exigency that is regarded as possible but uncertain of occurrence.
How is contingency cost calculated?
For your contingency calculation, use a multiplication formula. Fifteen percent is a reasonable contingency for many projects. To determine fifteen percent of a number, multiply it by 0.15. Start with an equals sign.
What is the definition of contingency plan?
Contingency planning is defined as a course of action designed to help an organization respond to an event that may or may not happen.
What’s another word for backup plan?
What is another word for backup plan?fallbackcontingencyreplacementreservestand-inalternativebackupsubstituteplan Bcover26 more rows
What is Contingency Plan Example?
A contingency plan is a plan devised for an outcome other than in the usual (expected) plan. … Contingency plans are often devised by governments or businesses. For example, suppose many employees of a company are traveling together on an aircraft which crashes, killing all aboard.