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For the play of this title, see The Contingency Plan. A contingency plan is a plan devised for an outcome other than in the usual (expected) plan.It is often used for risk management when an exceptional risk that, though unlikely, would have catastrophic consequences. Contingency plans are often devised by governments or businesses. contingency plan is a plan devised for an outcome other than in the usual (expected) plan.
Why Itâs Important to Have a Contingency Plan. Emergencies can be catastrophic for businesses of any size, but small businesses are particularly affected. Many small businesses have not adequately protected themselves in an emergency scenario that requires environmental cleaning. Fortunately, it is never too late to create a contingency plan. Contingency planning can help your business stay afloat when the worst happens, preventing costly downtime. Importance of Contingency Plans