Facebook Twitter Instagram
    Facebook Twitter Instagram
    Marketing2BusinessMarketing2Business
    • Definitions
    • Marketing
    • Business
    • SEO
    • Digital Agencies
    • Advertisement
    Marketing2BusinessMarketing2Business
    Home » Definitions » What is Contingency plan? And How It Can Be Apply.
    Definitions

    What is Contingency plan? And How It Can Be Apply.

    marketing2businessBy marketing2businessJune 23, 2019Updated:January 21, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Contingency Plan
    Share
    Facebook Twitter LinkedIn WhatsApp Pinterest Email

    To regulate the etymological origin of the two main words that shape the term, we have to go to Latin. Thus, in this language, we find the fact that the plan comes from the word planus that can be translated as “flat.”
    Meanwhile, contingency emanates from the contingent plan concept that is the result of the union of three parts: the prefix with – which is equivalent to “meeting”, the verb tangere that is synonymous with “touching” and finally the suffix – encia that can be determined that its meaning is equal to “quality”.

    A contingency plan is a type of plan preventive, predictive, and reactive. It presents a strategic and operative structure that will help to control an emergency and minimalize its negative significance’s.

    contingency-plan

    The eventuality plan advises a series of alternative procedures to the normal operation of an organization when any of its usual functions are affected by an internal or external contingency.

    This kind of plan, tries to guarantee the continuity of the operation of the organization in the face of any eventuality, whether material or personal. A contingency plan includes four basic stages: evaluation, planning, feasibility testing, and execution.

    Specialists recommend planning when it is not yet necessary; that is before accidents happen. On the other hand, a contingency plan must be dynamic and must allow the inclusion of alternatives in the face of new incidents that may occur over time. Therefore, it must be updated and revised periodically.

    A contingency plan also has to establish certain strategic objectives and an action plan to meet those goals. Many organizations benefit from action plan template to effectively manage and complete projects.

    Specifically, we can establish that any contingency plan must be formed in turn by three other plans that will be those that establish the measures to be carried out, the threats that are faced and the time of the establishment of those.

    First of all, there is the backup plan that is responsible for determining what preventive measures are, that is, those that have to be carried out with the clear objective of preventing the materialization of a threat in particular.

    Secondly, it also integrates into the contingency project what is the emergency plan that, as its name indicates, is made up of the set of actions that must be carried out during the materialization of the threat and also after the same. And third is the recovery plan that is made after the threat with the clear objective of recovering the state in which things were before it became real.

    In computer science, a contingency plan is an alternative program for a company to recover from a computer disaster and restore its operations quickly. These plans are also known by the acronym DRP, from the English Disaster Recovery Plan.

    A DRP program includes a backup plan (which is done before the threat), an emergency plan (applied during the threat) and a recovery plan (with measures to apply once the threat has been controlled). Also you can find more helpful resources at thedigitaltrendz.

    Also Read :  What is Marketing Plan Template?

     

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    marketing2business

    Related Posts

    What is Market? Find Brief Definition About Market.

    April 28, 2022

    The Marketer’s Guide to Facebook Graph Search

    April 28, 2022

    Basecamp Alternative – Definition, Limitations, Top 10, Best of 2021, and More

    April 28, 2022

    What is Economic Growth? And It’s Features.

    April 27, 2022

    What is Organization ? Find Some Basic Essentials.

    April 27, 2022

    What is Money Market? Find Some Types of It.

    April 27, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Post

    Things To Consider When Planning to Get An MBA Degree

    Education

    Things To Consider When Planning to Get An MBA Degree – Whether you are looking…

    Factors to Consider When Getting a Personal Loan

    January 23, 2023

    Different Ways That Manufacturing Businesses Can Market Themselves

    January 20, 2023

    Seven Ways That Going Back To School Can Boost Your Business Career

    January 19, 2023

    5 Promo Gifts Perfect for Restaurant Marketing Campaigns

    January 18, 2023

    Mistakes To Avoid When Choosing Training On Sexual Harassment

    January 16, 2023
    Popular Post

    6 Benefits of Hiring a Digital Marketing Firm

    March 25, 2021

    What Are the Features of a Typical Home Warranty Plan?

    August 23, 2022

    Essentials for Anyone Beginning a Career in Professional Real Estate Sales

    September 2, 2021

    Reasons Why Starting a Business Website is Expensive

    November 16, 2019

    What are Global Resources? – Definition, Benefits, and More

    April 30, 2020

    What Type of Business Model Should Your Company Opt for?

    December 1, 2020

    Small Business: Top 5 Financing Options for Small Businesses

    January 24, 2020

    INFLATION: Definition-Types of Inflation-Consequences of Inflation

    February 3, 2020

    What Council Tax Band Am I And Everything About It

    December 28, 2022

    7 Valuable Pieces of Marketing Advice for Finance Companies

    April 28, 2022

    Subscribe to Updates

    Get the latest post from Marketing 2 Business about definitions, marketing, business, seo, digital agencies and advertisement.

    About Us
    About Us

    Marketing2business provides brand management solutions. We are committed to bringing ideas, inspiration, strategy, and tools to help our customers grow their business and achieve success.

    Recent Post

    Things To Consider When Planning to Get An MBA Degree

    January 26, 2023

    Factors to Consider When Getting a Personal Loan

    January 23, 2023

    Different Ways That Manufacturing Businesses Can Market Themselves

    January 20, 2023
    Random Post

    ASCII Character To Binary Easy Step To Make Binary-2021

    April 20, 2022

    Does Your Content Have the Right Density of Keywords for Perfect SEO

    February 24, 2020

    Why Is It Crucial to Use WordPress for your Website Design?

    November 27, 2020
    Facebook Twitter Instagram
    • About Us
    • Blog
    • Contact Us
    • Advertisement
    • Privacy Policy
    © 2023 All Rights Reserved by Marketing 2 Business.

    Type above and press Enter to search. Press Esc to cancel.