Contingency Planning

 A contingency plan is a set of actions that you will take when something unexpected happens. Think of it as a backup plan, or a Plan B. It should have instructions that you can follow when your original plan doesn’t work out due to changes in the situation.

Don’t think making a contingency plan is a simple task. A Contingency Plan should be comprehensive, which requires lots of careful consideration. Otherwise, it is not helpful.

A contingency plan helps minimize the negative consequences or losses caused by the unexpected event. It guides you to start dealing with the situation as soon as something goes wrong and keeps you safe. After all, having a contingency plan ready is reassuring, because you won’t have to worry about making new plans in a rush.