Contingency plans are strategies developed to address potential future events or emergencies that could disrupt normal operations. These plans outline specific actions to take in response to various scenarios, ensuring that individuals or organizations can quickly adapt and minimize negative impacts. Creating a contingency plan involves identifying risks, assessing their likelihood, and determining the necessary resources and steps to manage them. This proactive approach is essential for businesses, governments, and individuals to maintain stability and continuity during unexpected situations, such as natural disasters, economic downturns, or technological failures.