Contingency plan
A plan that is prepared in advance to limit risks and damages of unforeseen circumstances on a project's costs.
A contingency plan prepares for unforeseen events, outlining alternative actions to minimize project disruption. It is an essential part of risk management, ensuring that the project can continue smoothly despite unexpected challenges or changes in circumstances.
Used in a sentence
A contingency plan outlines the steps to take in case of unforeseen events or changes.
Synonyms/variation
Backup Plan
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