ENTREPRENEURSHIP

Detailed explanation-1: -A business contingency plan is a backup strategy for your team or organization. It lays out how you’ll respond if unforeseen events knock your plans off track-like how you’ll pivot if you lose a key client, or what you’ll do if your software service goes down for more than three hours.

Detailed explanation-2: -A contingency plan in project management is a defined, actionable plan that is to be enacted if an identified risk becomes a reality. It is essentially a “Plan B”, to be put in place when things go differently than expected.