Contingency planning aims to prepare an organization to respond well to an emergency and its potential humanitarian impact. Such planning is a management tool, involving all sectors, which can help ensure timely and effective provision of humanitarian aid to those most in need when a disaster occurs.

Definition. Business continuity refers to the ability of businesses to carry out their normal activities and function after unplanned events have occurred. On the other hand, a contingency plan refers to an actionable and defined plan that will be enacted if an identified business risk or unfortunate event occurs.

A contingency plan is a plan devised for an outcome other than in the usual (expected) plan. Contingency plans are often devised by governments or businesses. For example, suppose many employees of a company are traveling together on an aircraft which crashes, killing all aboard.

The purpose of any contingency plan is to allow an organization to return to its daily operations as quickly as possible after an unforeseen event. The contingency plan protects resources, minimizes customer inconvenience and identifies key staff, assigning specific responsibilities in the context of the recovery.

Contingency plans formally establish the processes and procedures to protect employees, core business elements, critical processes, information systems and the environment in the event of an emergency, business disruption, or disaster.

To take appropriate actions in any emergency, follow the three basic emergency action steps — Check-Call-Care. Check the scene and the victim. Call the local emergency number to activate the EMS system. Ask a conscious victim’s permission to provide care.

“The purpose of any contingency plan is to allow an organization to return to its daily operations as quickly as possible after an unforeseen event. The contingency plan protects resources, minimizes customer inconvenience and identifies key staff, assigning specific responsibilities in the context of the recovery.”

non contingent offer

Owners whose home is in contingent status can accept a backup offer, and that offer will have precedence if the initial deal does not go through, so if you like a contingent property, it makes sense for you to make an offer on the listing so that you are in position to buy if something goes wrong with that transaction.

These are contingencies that are understood by economic agents — their consequences and probabilities are known — but are such that every description of such events necessarily leaves out relevant features that have a non-negligible impact on the parties’ expected utilities.

: not anticipated or expected : not foreseen : unexpected an unforeseen delay unforeseen consequences.