Examining Contingent Response Strategies for Projects
Contingent Response Response Strategies for Projects is a response strategy developed in advance before things go wrong on the project. It is meant to be used if and when identified risks become reality. As features Contingent response strategy allows a project manager to react quickly and appropriately to the risk event mitigating its negative or impact or increasing its potential benefits.
A contingent response strategy may include a fallback plan for risks with high impact. The fallback plan is implemented if the initial contingent response strategy is ineffective in responding to the risk event.
A contingent response strategy is also called a contingency plan.
A typical example …
Rain date is a classic example of a contingency response strategy. For an outdoor event such as a company picnic, that could be spoiled by inclement weather, the project manager can announce in advance the contingency response strategy in case of rain, the picnic will be postponed by one week.
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