Contingency plan
Contingency Plan
A Contingency Plan (pronunciation: /kənˈtɪndʒənsi plæn/) is a course of action designed to help an organization respond effectively to a significant future event or situation that may or may not happen. It is a fundamental aspect of Risk Management.
Etymology
The term "Contingency Plan" originates from the Latin word 'contingere', which means 'befall'. In the mid-16th century, it was used to refer to something that may or may not happen. The term 'plan' is derived from the Latin word 'planus', meaning 'flat surface', and was later used to refer to a scheme or method of action.
Related Terms
- Risk Management: The process of identifying, assessing, and controlling threats to an organization's capital and earnings.
- Disaster Recovery Plan: A documented process or set of procedures to recover and protect a business IT infrastructure in the event of a disaster.
- Business Continuity Plan: A plan to continue operations if a place of business is affected by different levels of disaster.
- Crisis Management: The process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders.
See Also
External links
- Medical encyclopedia article on Contingency plan
- Wikipedia's article - Contingency plan
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