No matter how well you prepare for the future, unexpected events might happen along the way that may end up bringing everything crashing down. That is why you should have an extra budget besides the mainstream ones; which is called the emergency or contingency plan. We have the right plan templates you need to make your job a lot easier. Take a look!
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14+ Contingency Plan Templates
Contingency Plan Template
In the event of an unforeseen disaster, you should always have a contingency plan. You should always have a Plan B ready if your first plan does not work out as you wanted it to. There are several occurrences we can’t control, the best thing we can do is to prepare before it happens. Properly layout your Plan B with the guidance of this plan template in Word, that you can easily edit and customize as per your needs and wishes. It has suggestive content that you can personalize to your preference. Download it now!
Contingency Sales Plan Template
The amount set aside for this planning may vary depending on the size of businesses and the risk level. The money you allocate for a contingency plan is unique because, unlike insurance, you have control of it, and so you can release it immediately when an accident happens, as you wait for your insurer to finalize the compensation process. Contingency strategic plans help you keep a check on the possible risks you might facing and what you can do to overcome them with ease.
Special Events Contingency Plan PDF Format Free Download
Special events contingency plan, like the one above, is a PDF plan template, that can be downloaded on any electronic device with ease. No matter how well you prepare for the future, unexpected events might happen that may end up bringing everything down. Our plan template helps you to set aside an extra budget sample beside the mainstream ones for such special events as emergency or contingency.
Information Technology Contingency Plan Example Template
The above-mentioned template is an information technology (IT) contingency plan template, which can be downloaded with ease. It can be used for all kinds of business setups, who are searching for the right kind of such a plan for their organization. Check compensation plan templates for more. It lists out an order of actions to be taken before, during, and after a disaster, it can pay enormous dividends in the event of a major disaster.
Information System Contingency Plan Sample Template Free Download
The information system contingency plan sample that is mentioned above is a free plan word template that provides an accurate representation of the application, its software, hardware, and telecommunication components. Our plan template identifies with the criticality of the system and recovery strategies that will provide the ability to recover the system functionality in the most expedient and cost-beneficial method.
Computer Contingency Plan Word Format Free Download
Computer Contingency Plan is a Free, easy to use Word template whose purpose is to assure that, in the event of a disaster, software failure or equipment failure, critical business processes will continue. Our plan template includes temporary operating procedures that include Departmental or Building Disaster and Primary Computer System Disaster.
Spill Contingency Plan Sample PDF Template Free Download
The above-mentioned plan sample template is specially designed to identify the potential hazards of a spill. It also helps in outlining protocols to respond to these hazards. It outlines the type of the severity of the spill, Response to an accidental release of hazardous material, Emergency contact numbers, and equipment.
Alberta Blood Contingency Plan Example PDF Free Download
Department Contingency Plan Word Format Free Download
Sample Integrated Contingency Plan PDF
Monsoon Contingency Plan Sample Word Template Free Download
National Contingency Plan Example PDF Free Template Download
Example of Consolidated Contingency Plan PDF Free Download
IT Contingency Plan Word Format Free Download
Business Contingency Plan Example Word Template Free Download
How to Create a Contingency Plan in 5 Steps:
While businesses can forecast their financial performance for the succeeding year, there are unfortunate circumstances that no one would ever expect to happen. Just like the coronavirus pandemic in 2020. A report from The Washington Post stated that in the United States, over 100 000 small businesses have closed due to the crisis.
According to Main Street America, there has been a 75% decrease in revenue for approximately 57% of businesses.
Also, an article from CNBC said that over 16 million Americans are unemployed as of April 2020.
To mitigate the risks of such catastrophes, create a contingency plan by following the steps provided below.
Step 1: Assess the Risks
It is very important that you know the risks your company is facing. This way, it gets easier for you to make sure that you have the right solutions to the problem. You should be able to answer three important questions as you go about making your risk action plan – what could happen, what can you do in response to the risk, and finally, what can you do in advance to be prepared to handle the risk. Answering these 3 questions will help you assess the risks you might be facing.
Step 2: Prioritize the Risks
Make a list of the risks with respect to the occurrence they might come in. All the risks should not be treated equally, so make sure that you have the depth of them mentioned in your contingency plan without fail. You need to identify the risks that affect your organization the most and have a plan ready on how you can get out of such a situation with the least adversities.
Step 3: Timeframe
The next thing for you to do would be to have a timeframe ready. This means that you need to have a time period set in which you can finish your plan successfully. Divide the timeframe in such a way that you can either make it in a daily or a weekly fashion and segregate the things that need to be done accordingly. Check investment risk analysis for more. Make the necessary changes and make sure that you give the job to the ones who can finish the task on time.
Step 4: Essentials to Reduce Risks
Sample risk action plans that are available online can be of great help to you in making the right plan needed. This step is where you will mention all the essential resources and materials you would need to get back on your feet after the risk phase has passed. You need to mention your capabilities and vulnerabilities in brief. Do an assessment of the resources you have and the need for better growth of your business.
Step 5: Revisit and Edit
Once you are done making the plan, store it in a place that you can easily access it. Communicate the plan to the other employees as and when needed. Test your plan so that you will know whether or not it will work out. Since it helps keep risks at bay, you should test it frequently. Revisit your plan whenever needed and edit the plan, as you need to stay on the same wavelength with the changes in the market. This way, you can implement new strategies and make the best out of the contingency plan.
Contingency plans are designed taking into account a few aspects of your organization like the type of business you do, what are the critical business points, etc. For any business, there are many risks that are common like network breaches, hacking, natural causes, etc. Check risk management plans for more. The main goal of a contingency plan is to identify what are the key actions to minimize the adversities of the risks while keeping the organization running.
Finding the root cause of the risk is very important. Evaluate the time you would possibly take for the recovery. If it is too long, then it affects the delivery of the product. After the phase of the risk, you should make sure that you have the back-up equipment ready, other production lines, etc. all packed and ready as these will help you run your business successfully even during the time of the risk. Check the contingency management template for more. Communication is very important, so make sure that you communicate with the clients about the risk, the issue, the impact and how you are going to solve it.
1. What is a Contingency Plan?
A contingency plan is a plan used for a different outcome other than the usual plan. It is often used for risk and disaster management, especially for those that might have catastrophic consequences. These kinds of plans are mainly used by governments and businesses to get back up after the situation has died down.
2. What is the purpose of a Contingency Plan?
A contingency plan allows an organization to return to its daily operations as quickly as it can after the risk situation cropped up unknowingly. It protects resources, reduces customer difficulties and mainly, identifies all the key staff. It helps assign crucial responsibilities and roles in the context of the recovery of the entity.
3. What does a Contingency Plan include?
A contingency plan includes the following details:
- Standing policies to mitigate the disaster’s potential impact
- Any event that might disrupt operations
- The disaster details like fires, earthquakes, etc
- Any crises
- On job injuries and worksite accidents, if any
- Protection and detection of any issues and recovering the organization
- Identify and prioritize the risks.
4. Is a Contingency Plan a Backup Plan?
Contingency plans are a backup plan that an organization has, in case it cannot play out its original plan. It is activated in the event a disaster disrupts the company’s production and puts all its employees in danger. The goal of the plan is to safeguard data, reduce disruption and keep everyone safe.
5. What are the benefits of Contingency Planning?
Some of the benefits of using a contingency plan are:
- It improves public relations
- Reduces risk of uncertainty
- Ensures continuity of work
- Prevents panic in and around the organization
- Increases the credit availability of the entity
- Informs all the shareholders and investors about what can be done to bring the business back up, etc.