2.10. Contingency Planning
Contingency planning is anticipating in advance unexpected circumstances, occurrences, and situations so that there can be a fast response to a crisis. All possible eventualities should be considered. Contingency planning involves identifying the possible occurrence, ascertaining warning signs and indicators of a problem, and formulating a response.
Contingency planning can be in the form of flexible (bracket) budgets. The plan should be modified if needed to generate the best results. There should be flexibility in the plan to adjust to new information and circumstances and to allow for the resolution of uncertainties.
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