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A contingency plan outlines specific actions to take in response to a potential risk or disaster, while a mitigation plan focuses on reducing the likelihood or impact of risks before they occur. Contingency plans help organizations respond effectively to unexpected events, while mitigation plans aim to prevent or minimize risks in the first place. Both plans are essential components of a comprehensive risk management strategy, with contingency plans addressing immediate responses and mitigation plans addressing long-term risk reduction.

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4mo ago

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Related Questions

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The most effective mitigation strategies to address potential risks and challenges in a project include thorough risk assessment, proactive communication, contingency planning, regular monitoring and evaluation, and adapting strategies as needed.


What risk mitigation strategies should be implemented to address potential threats in the project?

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