Definition of Contingency Planning

Contingency plane is an action plan designed by the organization to help them to respond to specific actions that may or may not happen. This plan is sometimes also known as “Plan B” because this plan came into action when things didn’t go according to the plan. The contingency plan is a part of risk management or business continuity plan.

Multiple contingency plans are developed by large organizations or government agencies to tackle the challenges of potential threats.

There are seven steps outlined for the preparation of the contingency plan:

1. Develop a Contingency Planning Policy Statement
2. Conduct the business impact analysis (BIA)
3. Identify preventive controls
4. Create contingency strategies
5.  Develop an information system contingency plan
6.  Ensure plan testing, training, and exercises
7. Ensure plan maintenance