Contingencies Question

Jun 26th, 2014
Anonymous
Category:
Accounting
Price: $10 USD

Question description

A contingency is described in Chapter six as "alternate plans" on page 102. How does risk identification help with project contingency planning? Provide an example of a specific contingency plan you have ever used, and why it was necessary. 

Ch 6.

Develop contingency/recovery plans based on risk matrix.Contingency plans are based on risk assessment and completion of the risk matrix, which includes the development of a contingency plan for each task, judged to be medium or high risk. Contingencies are alternate plans that provide a means for recovery of a project, impacted by a risk event.

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