Contingency Is Not A 1X Event: It Has Only Just Begun
A backup plan allows you to be flexible and nimble in the face of change, which, during any project, is virtually guaranteed. A bit of a misnomer, the contingency plan is not an end-product, but an ongoing event. You don’t put it into place and get to say, “Good; we’re covered. We’re done with that.” Instead, the contingency plan evolves as the project evolves. Integral in project planning and management processes, the contingency encompasses all aspects of a project and reduces uncertainty and risk.