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A. A planned response that defines the steps to be taken if an identified risk event should occur. B. A workaround C. A reserve used to allow for future situations which may be planned for only in part. D. a and c
A contingency plan is a plan for unexpected risk how to act and to apply policies which the government or company has put in place in case of disasters in order to be able to protect the country (government) or to be able to continue the business.
Contingency plan involves the planning and action to be taken on the occurrence of any expected risk. It is very common in a construction project where the specification or drawing was not properly studied and due to that, some abortive work need to be carried out for which the client will not pay any additional money and contractor has to pay it from his reserves.
A planned response that defines the steps to be taken if an identified risk event should occur
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