Small Business Contingency Plan

They plan what to do if the designer leaves the firm. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.

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Your contingency plan should have a trigger for each scenario deemed critical.

This trigger includes what conditions must be met for the plan to activate and at what specified time (if possible), to allow all users of the plan to be as synchronized as possible from the offset.

During times of crisis, contingency plans are often developed to explore and prepare for any eventuality.

During the Cold War, many governments made contingency plans to protect themselves and their citizens from nuclear attack.

The National Institute of Standards and Technology has published a contingency planning guide for information technology systems.

Cantor Fitzgerald, a financial services company, is a prominent example of a successful implementation of a business contingency plan.It is often used for risk management for an exceptional risk that, though unlikely, would have catastrophic consequences.Contingency plans are often devised by governments or businesses.A firm plans what it will do if an entire data center goes offline for an extended period of time due to damage to infrastructure such as solar panels, electrical grids, telecom networks, roads and/or the facility itself.A firm relies on the instincts and creative talent of a chief design officer who has consistently developed winning products.wiki How's Content Management Team carefully monitors the work from our editorial staff to ensure that each article meets our high How marks an article as reader-approved once it receives enough positive feedback.This article has over 505,467 views, and 86% of readers who voted found it helpful.It also received 16 testimonials from readers, earning it our reader-approved status. Organizations create contingency plans, sometimes called a "Plan B," to prepare for something bad that could affect the organization's ability to function.Developing an effective contingency plan is essential for any organization.For example, suppose many employees of a company are traveling together on an aircraft which crashes, killing all aboard.The company could be severely strained or even ruined by such a loss.