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Project Management & Agile · Intermediate

Contingency Plan

A predefined response to implement if a risk trigger occurs.

Definition

Also called a contingent response strategy, it is used for risks where response is only warranted if certain conditions arise. It is funded from contingency reserve.

Example

If the vendor misses the first milestone, switch to the backup supplier.

Exam tip

Contingency plans are triggered; workarounds are unplanned.

Related terms