Why is contingency planning important? Explain your answer using your experience or your work environment.
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A contingency plan is necessary for a business to survive. It protects companies and organizations in times of disasters and part of its goals is to address whatever damage that has occurred, continue the critical functions of the business and eventually, recreate the organization (Gill, 1996). A contingency plan is made by companies to assure them that there are alternative plans that can be implemented when some key events don't happen as expected. Organizations must be prepared when times go wrong and having contingency plans helps them position themselves better in times of unexpected developments. It reduces uncertainty, indecision and delays which cause operations to be ...
The importance of contingency planning. References are included.