What is Contingency Plan definition/concept

A contingency plan is contained in a document that establishes a set of strategies to face a possible threat . In general, this type of plan is intended to protect the people who work in a place and, at the same time, protect the environment and infrastructure related to an activity.

A contingency plan is a risk analysis

The contingency plan can minimize potential risks that could negatively affect an activity. In this sense, it is understood that risk involves a certain threat and vulnerability, for this reason the following formula is established: Risk = Threat x Vulnerability (R = A x V).

An exposed pipeline is a vulnerable structure , burns close to a pipeline are a threat and the risk is a probable explosion or fire. Therefore, a contingency plan is a risk analysis based on potential threats. Contingency Plan

Preparation of a plan

In general every contingency plan includes four phases: assessment, planning , feasibility testing and execution.

These phases or steps must be covered periodically so that the plan is as effective as possible. Naturally, it is necessary that all established strategies are accompanied by the necessary material resources and adequate professional preparation.

The contingency plan includes a series of sub-plans, such as the backup plan from which some preventive measures are introduced to avoid the emergence of a threat or the emergency plan that specifies what action should be taken at the time of a threat. Another sub-plan is recovery, which includes the necessary measures that must be incorporated after controlling the threat.

What is contingency and why is it important?

The term contingency refers to the possibility of something happening. In this way, it deals with everything that is not needed. If we apply this idea to the work environment, a common contingency could be an accident at work or an illness .

In the face of any contingency or eventuality, there is the possibility of adopting preventive measures, for this reason, the companies put into practice the aforementioned contingency plans.

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