Contingency plans

Revision as of 13:21, 18 February 2021

Abstract

What will happen if Plan A doesn't work?  Uncertainty is a part of projects and cannot be avoided. There are things that we know can go wrong and things that we do not know about.  The main part of the uncertainty is the anticipation of risks, both desired and undesired.  The classic risk management process is risk identification, assessment, treatment, and control.  Contingency plans are about how to deal with the risk.

"The purpose of treat risk is to develop options and determine actions to enhance opportunities and reduce threat to project objectives. Risk treatment includes measures to avoid the risk, to mitigate the risk, to deflect the risk or to develop contingency plans to be used if the risk occurs".  ^[1]

Contingency plans are your Plan B and ask the questions "What if....?". The risk could be anything from major crises, natural disasters to more common problems. Then there is the question of who creates these plans? Is it the top management, owner, or even the summer intern? There is not just one way to create a contingency plan, and therefore not just one role in a company that creates such plans. The overall responsibility and management are assigned to the most relevant person and that person is responsible for consulting and informing.  Steps to take in the creation of such a plan may vary from business to business and from project to project. According to the ISO 21500 Standard, the primary inputs are risk register and project plans and the primary outputs are risk responses and change requests. 

What is a Contingency Plan

Who Creates the Plan

How Do You Create Contingency Plan

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