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Dealing with contigency plans
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I think it's very important for project managers to know the direction to take if they have a predefined set of "what-if- scenarios". If the contingencies are not properly identified, the entire project can fail in an unexpected set of problems. How do you deal with ambiguous contingency plans?
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Once you have identified the Risks, Performed a qualitative Risk Analysis and rated the risks as Low , Medium , High , you must decide on the contingency plan for the Risks, especially the high risks . You must put the low risks on a Watch list , should they become high later. You must constantly monitor and control the risks.

The clarification of the Contingency plan to deal with the risks should come from the Project Management Team working very closely with the Risk Owner, should the risk owner be a Stakeholder, outside the Project Management Team.

There must be a Risk Owner for every risk that is identified .

As a Project Manager, you must make sure that the Risk Owners are addressing the risk appropriately and if there are ambiguities and road blocks , you must work hand in hand with the Risk Owner to remove them.

Plan, Do , Check , Act ---- Repeat .....until you are crystal clear on the contingency plans
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1 reply by Anish Abraham
Dec 06, 2017 11:34 AM
Anish Abraham
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Thanks for your feedback on this.
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In broader perspective, contingency planning is an element of business continuity, disaster management and risk management. An ambiguous contingency plan may further lead to repercussion of business loss and offspring risks.

NIST 800-34 Rev outlines seven steps for contingency plan, good to read material. Here is outline of steps:
1. Develop the contingency planning policy statement
2. Conduct the business impact analysis (BIA)
3. Identify preventive controls
4. Create contingency strategy
5. Develop and information system contingency plan
6. Ensure plan testing, training and exercises
7. Ensure plan maintenance

There must be a risk register for contingency plan as well
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1 reply by Anish Abraham
Dec 05, 2017 10:29 PM
Anish Abraham
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Thanks for your feedback Rajeev.

I think the business impact analysis (BIA) will help to identify and prioritize various components that are critical to the organization’s mission/business functions.
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Contingency plans are meant to be executed when the risk happens. You should have fallback plans in place, in case the contingency plans don't work.
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1 reply by Anish Abraham
Dec 05, 2017 9:55 PM
Anish Abraham
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Thanks Stephane for your feedback on this.
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Dec 05, 2017 8:10 PM
Replying to Stéphane Parent
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Contingency plans are meant to be executed when the risk happens. You should have fallback plans in place, in case the contingency plans don't work.
Thanks Stephane for your feedback on this.
Network:401



I believe the question was specifically from a Project Context . Business Continuity and Contingency planning is the core of every business in an operational sense in any case.
Network:1362



Dec 05, 2017 7:45 PM
Replying to Rajeev Sharma
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In broader perspective, contingency planning is an element of business continuity, disaster management and risk management. An ambiguous contingency plan may further lead to repercussion of business loss and offspring risks.

NIST 800-34 Rev outlines seven steps for contingency plan, good to read material. Here is outline of steps:
1. Develop the contingency planning policy statement
2. Conduct the business impact analysis (BIA)
3. Identify preventive controls
4. Create contingency strategy
5. Develop and information system contingency plan
6. Ensure plan testing, training and exercises
7. Ensure plan maintenance

There must be a risk register for contingency plan as well
Thanks for your feedback Rajeev.

I think the business impact analysis (BIA) will help to identify and prioritize various components that are critical to the organization’s mission/business functions.
Network:9474



By removing the ambiguity. All plans should be transparent, clear and doable.
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Anish -

It comes down to the nature of the risks which the contingency plans were developed for. If the risks themselves are general, then the plans to address the impacts of realizing them will by necessity be general as well. While we want to strive to make our risk events as specific as possible, in some cases this specificity is not possible.

In such cases, you could say that the development of an ambiguous or very generic contingency plan is on the same level as taking a passive acceptance response strategy for the risk.

Kiron
Network:1563



I think the Agile Methodology has a better way of managing, implementing, and executing changes and therefore dealing with contingencies. The waterfall or spiral project management is gradually and surely being replaced by hybrid and ultimately Agile.
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3 replies by Anish Abraham, Pravin Kajarekar, and Stéphane Parent
Dec 06, 2017 8:24 AM
Stéphane Parent
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Why do you think it's better, Pravin?
Dec 06, 2017 8:35 AM
Pravin Kajarekar
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It is flexible, it is easy to manage the impact due to its small size, and can change as per market conditions and new technology development and faster to implement.
Dec 06, 2017 11:36 AM
Anish Abraham
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Thanks Pravin for letting me know about the Agile Methodology.
Network:3416



In my point of view there two types of contigencies reserves firstly congtegency reserve for know - unknow( at disposal of PM), secondly management reserve(Unknow - unknown) (at management disposal). Contigency in projects are deal accordingly
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1 reply by Anish Abraham
Dec 07, 2017 6:27 PM
Anish Abraham
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Thanks Mansoor for your feedback.
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