What Is a Contingency Plan?


Quick Answer

A contingency plan considers possible problems and provides alternatives, solutions or ways to work around the problems. They are common in business, but can be used in many ways, even as a form of suicide prevention.

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What Is a Contingency Plan?
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Full Answer

A contingency plan looks at the main risks facing a given situation or eventuality and ways in which the risks can be minimized or counteracted. A suicide contingency plan, for example, should include methods a person can use to soothe himself when he feels suicidal. It should also contain a list of contacts who can help during a bleak moment. A business contingency plan usually addresses scenarios, including fire, flooding and data loss.

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