Contingency planning is the process of preparing for unexpected events or emergencies that could disrupt normal operations. It involves identifying potential risks, assessing their impact, and developing strategies to mitigate those risks. This ensures that an organization can respond effectively and maintain continuity in the face of challenges. A well-structured contingency plan includes clear procedures, designated roles, and communication strategies. It may cover various scenarios, such as natural disasters, cyberattacks, or supply chain disruptions. By having a plan in place, organizations can minimize downtime and recover more quickly, protecting their assets and stakeholders.