Challenges of Project Contingency Planning and Management
In simple words, project contingency planning and management is a series of activities to create a feasible plan “B” and follow it in case of necessity. In the project management discipline, such a plan is called a project contingency plan. The planning and management of unexpected and uncertain events are always critical to the success of a project because risks cause the project failure and reduce the probability of project completion. Project contingency planning and risk management are the key activities that make your project initiative successful and achievable in terms of time, quality and money.