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.
Need assignment help for this question?
If you need assistance with writing your essay, we are ready to help you!
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.