Contingency Planning is the process of identifying, analyzing, and developing plans to deal with emergency or unexpected situations that may affect business operations. The goal of Contingency Planning is to minimize the negative impact of unexpected events and ensure business continuity.

Contingency Planning includes:

1. Identify potential risks and threats
2. Analyze the potential impact of risks and threats
3. Development of contingency plans
4. Training and simulation
5. Monitoring and updating plans

By having a contingency plan, businesses can be better prepared for emergency situations and minimize losses.

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