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Contingency planning

When managing risks, there are several activities that may occur:
  • Realization: noticing that the risk occurs
  • Identification: spotting the risk coming
  • Avoidance: eliminating the risk
  • Reduction: acting to reduce the risk
  • Contingency planning: preparing for the worst

Contingency planning basically means creating a process and putting it on the shelf such that when the risk occurs, you are as prepared as possible.

Contingency actions may include:

  • Ensuring that additional resources can be called on and are available. This includes internal and external people, equipment, etc.

  • Preparation of communications and PR about the situation.

  • Training people to handle the undesirable situation.

  • Setting up identification measures so you have reasonable warning of the problem situation's imminent arrival. 

  • Setting up a contingency organization with roles and responsibilities that will last for the duration of the emergency.

See also:

Risk management

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