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What is contingency planning?
Contingency planning is a systematic approach to identifying what can go wrong in a situation. Rather than hoping that everything will turn out OK or that "fate will be on your side", a planner should try to identify contingency events and be prepared with plans, strategies and approaches for avoiding, coping or even exploiting them
Contingencies are relevant events anticipated by a planner, including low-probability events that would have major impacts. Contingency planning is a "What if?" skill important in all types of planning domains, but especially in contested and competitive domains. The objective of contingency planning is not to identify and develop a plan for every possible contingency. That would be impossible and a terrible waste of time. Rather, the objective is to encourage one to think about major contingencies and possible responses. Few situations actually unfold according to the assumptions of a plan. However, people who have given thought to contingencies and possible reponses are more likely to meet major goals and targets successfully. The following questions can help develop contingency plans:
ReferencesPower, D. J., Gannon, M., McGinnis, M. and Schweiger, D., Strategic Management Skills, Reading, MA: Addison-Wesley, 1986, ISBN: 0201139782.
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