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The importance of a project contingency plan is that it allows the Project Manager to deal with known risks with more confidence. Contingency planning prevents the "panic mode" situation when we face risks, as it incorporates risks into the schedule.

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The importance of the Critical path is that helps you in reducing risk, contingency planning, and project planning.


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What is the importance of People's Contingency Plan?

Importance of Peoples' Contingency Plan A contingency plan need not be sophisticated, very scientific, or computer generated model. It need not have a series of flow diagrams showing the process of planning. Use of technology or sophisticated analysis is only useful when it is combined with the people's participation. Basic information, risk assessment and intelligence analysis is normally adequate to have a functional people contingency plan for various hazards. The task cannot be of a single person in the preparation of a working plan, since accuracy is considerably enhanced through the assimilation of experience, information and skills of widest possible range of sources. Contingency plans are prepared at different levels such as Neighborhood, Village, Block, District, State and National Levels. It has to be made very specific by involving both government and non-government organizations. The plan should be ideally people-centric and hence the term peoples' contingency plans.


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What do leaders need to do in contingency theory?

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