PlanningSkills.COM Tuesday, September 26, 2017 PDT

Home Page
DSSResources.COM
PowerEnterprises.Net

Content Channels:

Ask Dan!
Glossary
Library
Planning Tips
Slides
Web Links

Site Information

About Us
Disclaimer
Privacy Statement
Welcome


Contingency Plan

A contingency plan is a statement of actions that will be taken to help an organization respond effectively to a contingency (anticipated event). A contingency is a significant future event or situation that may or may not happen. Action choices are made contingent on information about the future state of the world. For example, if a competitor introduces a new product in a market, the contingency plan is to lower prices of our products and increase the R&D budget 10%. Introduction of a new product by a competitor is therefore the contingency event. A contingency plan is a flexible, low-commitment plan that provides for follow-on information gathering and situation monitoring.



Home |  About Us |  What's New
Copyright © 2004-15 by D. J. Power (see his home page). PlanningSkills.COMsm is maintained by Alexander P. and Daniel J. Power. Please contact them at djpower1950@gmail.com with questions. See disclaimer and privacy statement. This page was last modified on December 8, 2015.
Google
 
Web planningskills.com