sample business contingency plan template

Enterprises are often defined by how they deal with events that are out of their control. For example, how you react to a disruptive technology or cope with a sudden change in the markets can be the difference between success and failure.

Contingency planning is the art of preparing for the unexpected. But where do you start and how do you separate the threats that could do real harm to your business from the ones that aren’t as critical?

Here are some important definitions, best practices and strong examples to help you build contingency plans for whatever your business faces.

What is a contingency plan?

Business contingency plans, also known as “business continuity plans” or “emergency response plans” are action plans to help organizations resume normal business operations after an unintended interruption. Organizations build contingency plans to help them face a variety of threats, including natural disasters, unplanned downtime, data loss, network breaches and sudden shifts in customer demand.

A good place to start is with a series of “what if” questions that propose various worst-case scenarios you’ll need to have a plan for. For example:

• What if a critical asset breaks down, causing delays in production?
• What if your top three engineers all quit at the same time?
• What if the country where your microprocessors are built was suddenly invaded?

Good contingency plans prioritize the risks an organization faces, delegate responsibility to members of the response teams and increase the likelihood that the company will make a full recovery after a negative event.

Five steps to build a strong contingency plan

1. make a list of risks and prioritize them according to likelihood and severity..

In the first stage of the contingency planning process, stakeholders brainstorm a list of potential risks the company faces and conduct risk analysis on each one. Team members discuss possible risks, analyze the risk impact of each one and propose courses of action to increase their overall preparedness. You don’t need to create a risk management plan for every threat your company faces, just the ones your decision-makers assess as both highly likely and with a potential impact on normal business processes.

2. Create a business impact analysis (BIA) report

Business impact analysis (BIA) is a crucial step in understanding how the different business functions of an enterprise will respond to unexpected events. One way to do this is to look at how much company revenue is being generated by the business unit at risk. If the BIA indicates that it’s a high percentage, the company will most likely want to prioritize creating a contingency plan for this business risk.

3. Make a plan

For each potential threat your company faces that has both a high likelihood of occurring and a high potential impact on business operations, you can follow these three simple steps to create a plan:

• Identify triggers that will set a plan into action: For example, if a hurricane is approaching, when does the storm trigger your course of action? When it’s 50 miles away? 100 miles? Your teams will need clear guidance so they will know when to start executing the actions they’ve been assigned.
• Design an appropriate response: The threat your organization prepared for has arrived and teams are springing into action. Everyone involved will need clear, accessible instructions, protocols that are easy to follow and a way to communicate with other stakeholders.
• Delegate responsibility clearly and fairly: Like any other initiative, contingency planning requires effective project management to succeed. One proven way to address this is to create a RACI chart . RACI stands for responsible, accountable, consulted and informed, and it is widely used in crisis management to help teams and individuals delegate responsibility and react to crises in real time.

4. Get buy-in from the entire organization—and be realistic about cost

Sometimes it can be hard to justify the importance of putting resources into preparing for something that might never happen. But if the events of these past few years have taught us anything, it’s that having strong contingency plans is invaluable.

Think of the supply chain problems and critical shortages wreaked by the pandemic or the chaos to global supply chains brought about by Russia’s invasion of Ukraine. When it comes to convincing business leaders of the value of having a strong Plan B in place, it’s important to look at the big picture—not just the cost of the plan but the potential costs incurred if no plan is put in place.

5. Test and reassess your plans regularly

Markets and industries are constantly shifting, so the reality that a contingency plan faces when it is triggered might be very different than the one it was created for. Plans should be tested at least once annually, and new risk assessments performed.

Contingency plan examples

Here are some model scenarios that demonstrate how different kinds of businesses would prepare to face risks. The three-step process outlined here can be used to create contingency plans templates for whatever threats your organization faces.

A network provider facing a massive outage

What if your core business was so critical to your customers that downtime of even just a few hours could result in millions of dollars in lost revenue? Many internet and cellular networks face this challenge every year. Here’s an example of a contingency plan that would help them prepare to face this problem:

• Assess the severity and likelihood of the risk: A recent study by Open Gear showed that only 9% of global organizations avoid network outages in an average quarter. Coupled with what is known about these attacks—that they can cause millions of dollars in damage and take an immeasurable toll on business reputation—this risk would have to be considered both highly likely and highly severe in terms of the potential damage it could do to the company.
• Identify the trigger that will set your plan in action: In this example, what signs should decision-makers have watched for to know when a likely outage was beginning? These might include security breaches, looming natural disasters or any other event that has preceded outages in the past.
• Create the right response: The organization’s leaders will want to determine a reasonable recovery time objective (RTO) and recovery point objective (RPO) for each service and data category their company faces. RTO is usually measured with a simple time metric, such as days, hours or minutes. RPO is a bit more complicated as it involves determining the minimum/maximum age of files that can be recovered quickly from backup systems in order to restore the network to normal operations.  

A food distribution company coping with an unexpected shortage

If your core business has complex supply chains that run through different regions and countries, monitoring geopolitical conditions in those places will be critical to maintaining the health of your business operations. In this example, we’ll look at a food distributor preparing to face a shortage of a much-needed ingredient due to volatility in a region that’s critical to its supply chain:

• Assess the severity and likelihood of the risk: The company’s leaders have been following the news in the region where they source the ingredient and are concerned about the possibility of political unrest. Since they need this ingredient to make one of their best-selling products, both the likelihood and potential severity of this risk are rated as high.
• Identify the trigger that will set your plan in action: War breaks out in the region, shutting down all ports of entry/exit and severely restricting transport within the country via air, roads and railroads. Transportation of their ingredient will be challenging until stability returns to the region.
• Create the right response: The company’s business leaders create a two-pronged contingency plan to help them face this problem. First, they proactively search for alternate suppliers of this ingredient in regions that aren’t so prone to volatility. These suppliers may cost more and take time to switch to, but when the overall cost of a general production disruption that would come about in the event of war is factored in, the cost is worth it. Second, they look for an alternative to this ingredient that they can use in their product.

A social network experiencing a customer data breach

The managers of a large social network know of a cybersecurity risk in their app that they are working to fix. In the event that they’re hacked before they fix it, they are likely to lose confidential customer data:

• Assess the severity and likelihood of risk: They rate the likelihood of this event as high , since, as a social network, they are a frequent target of attacks. They also rate the potential severity of damage to the company as high since any loss of confidential customer data will expose them to lawsuits.
• Identify the trigger that will set your plan in action: Engineers make the social network’s leadership aware that an attack has been detected and that their customer’s confidential information has been compromised.
• Create the right response: The network contracts with a special response team to come to their aid in the event of an attack and help them secure their information systems and restore app functionality. They also change their IT infrastructure to make customer data more secure. Lastly, they work with a reputable PR firm to prepare a plan for outreach and messaging to reassure customers in the event that their personal information is compromised.

The value of contingency planning 

When business operations are disrupted by a negative event, good contingency planning gives an organization’s response structure and discipline. During a crisis, decision-makers and employees often feel overwhelmed by the pile-up of events beyond their control, and having a thorough backup plan helps reestablish confidence and return operations to normal.  

Here are a few benefits organizations can expect from strong contingency plans:

• Improved recovery times: Businesses with good plans in place recover faster from a disruptive event than companies that haven’t prepared.  
• Reduced costs—financial and reputational: Good contingency plans minimize both financial and reputational damage to a company. For example, while a data breach at a social network that compromises customer information could result in lawsuits, it could also cause long-term damage if customers decide to leave the network because they no longer trust the company to keep their personal information safe.
• Greater confidence and morale: Many organizations use contingency plans to show employees, shareholders and customers that they’ve thought through every possible eventuality that might befall their company, giving them confidence that the company has their interests in mind.

Contingency plan solutions

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The Easy Guide to Creating a Business Contingency Plan

Updated on: 2 November 2022

How to avoid disasters? Be prepared for them. 

When things are going well, you often forget to plan for the bad times. But when disaster strikes, you could lose everything in a heartbeat.

An earthquake can bring your whole shop to the ground, your biggest client can choose your competitor over you, your system suddenly can crash making you lose important data etc. There are endless possibilities of disasters if you really think about it. 

That’s why lack of a plan can be a disaster of its own. 

Let’s see why you need a business contingency plan and how to create one in a few simple steps.  

What is a Business Contingency Plan? 

But first, let’s define what a contingency plan is. 

A contingency plan is a proactive strategy that describes the course of actions or steps the management and staff of an organization need to take in response to an event that could happen in the future. It plays a significant role in business continuity , risk management and disaster recovery. 

It helps you stay prepared for unforeseen events and minimize their impact. It also outlines a plan for carrying out the normal business operations after the event has occurred.  

It’s also known in names such as plan B, backup plan, and disaster recovery plan. In case your primary plan doesn’t work, it’s time to execute the plan B.

Benefits of a Contingency Plan 

Without a contingency plan you’re opening yourself to unnecessary risks. Here are some important benefits of a contingency plan that you cannot look away from. 

• Helps react quickly to negative events. As a contingency plan lists the actions that need to be taken, everyone can focus on what to do without wasting time panicking.
• Having a contingency plan in place allows you to minimize damage that could happen from a disaster and minimize the loss of production. For example if you have emergency generators set up, even during a blackout, your team can work seamlessly. 

How to Make a Contingency Plan 

An effective contingency plan is based on good research and brainstorming. Here are the steps you need to follow in a contingency planning process. 

Step 1: List down the key risks

Identify the major events that could have a negative impact on the course of your business and on the key resources, such as employees, machines, IT systems etc. 

Involve other team heads, subject experts, and even outsiders like business consultants to get a deeper understanding of things that may cause problems and jeopardize the direction.

Use a mind map to organize and categorize the information you gather from the brainstorming session with the staff. You can easily share this with everyone in the organization to get their input as well.

Step 2: Prioritize the Risks Based on Their Impact 

Once you have created a list of all the possible risks that could occur in different areas of your business, start prioritizing them based on the threat they pose. 

The risk impact probability chart is a handy tool you can use here. It helps you evaluate and prioritize risks based on the severity of their impact and the probability of them occurring.

Step 3: Create Contingency Plans for Each Event

In this step you’ll create separate plans that outline the actions you need to take in case the risks you identified earlier occur. 

Consider what needs to be done in order to resume normal operations after the impact of  the event. 

Here you’ll need to clarify employee responsibilities, timelines that highlight when things should be done and completed after the event, restoring and communications processes and the steps you need to have taken in advance to prevent losses when the event has taken place (i.e. insurance coverage). 

You can use a visual format here to highlight the course of actions. It would be easier for everyone to comprehend.

Step 4: Share and Maintain the Plan 

Once you have completed the contingency plans , make sure that they are quickly accessible to all employees and stakeholders. 

Review your contingency plans from time to time and update them as needed. And it’s a best practice to inform your employees of the changes as well, as it may include updates to their roles and responsibilities.  

What’s Your Take on Contingency Plans?

That is how you make a detailed contingency plan. List down the major incidents that could harm your business operations, prioritize them based on their impact and probability, create an action plan explaining what you should do in case they occur, and review and update them frequently. 

What is the contingency planning process at your organization? Let us know in the comments section below.

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Business contingency plan example

This business contingency plan example template can help you: - Understand your organization's contingency plan more clearly. - Communicate the plan to everyone who could potentially be affected. - Prepare your organization to handle anything unexpected. Open this template to view a detailed example of a business contingency plan that you can customize to your use case.

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What Is Contingency Planning? [+ Examples]

Published: January 13, 2023

The COVID-19 pandemic has shown, more than ever, the importance of being prepared with a contingency plan for the unexpected, especially when it comes to business continuity.

While some unexpected interruptions can be due to situations outside of your control, some issues arise that may be caused by internal errors. Unexpected problems can also be positive, like a sudden influx of interest in a new product.

Regardless of the scenario, it's essential to prepare for everything, and contingency planning helps you do so. This post will explain what contingency planning is, outline the steps you can follow to create your own plan, and give examples that you can use for inspiration.

• Contingency Planning
• Business Contingency Plan
• Making a Contingency Plan
• Contingency Plan Timeline
• Contingency Plan Example

Contingency Plan Definition

What is a contingency plan? Simply put, a contingency plan is an action plan designed to help organizations respond to a potential future incident. Think of it as a backup plan, or plan B to guide organizations through a worst-case scenario.

Contingency plans are helpful for all types of organizations, from businesses to non-profits, to government organizations. While these scenarios may never come to fruition, it’s important to have a plan in place so that your team isn’t panicking or scrambling to deal with an unfavorable event at the last minute.

What is contingency planning?

Contingency planning is a proactive process of creating a strategy to help you prepare for any scenario that can affect your business, regardless of the likelihood of its occurrence.

These plans shouldn't focus solely on situations that may harm your business. For example, you may experience a significant increase in revenue during a specific period due to changes in market behavior. This is a good scenario, but you will still need to adapt your operations to scale and appropriately meet the new demands of your growing audience.

Contingency Planning vs. Crisis Management

Contingency planning is also different from crisis management , as it is not a reaction to something that has already happened but more so a plan for if and when something may happen. However, a contingency plan can help you with crisis management when issues arise.

Contingency Planning vs. Risk Management

Risk management is the identification, mitigation, and assessment of potential risks that may affect your organization. This process helps an organization prevent losses before they occur and aids in assessing whether or not certain risks are worth taking. Contingency planning can be a component of risk management since that process helps organizations survive these potential risks.

To ensure your business is prepared for everything, it's crucial to understand how to create a contingency plan.

What is a business contingency plan?

A business contingency plan is a strategy that outlines the steps your business’ teams will take in the event of a crisis occurring. It is essentially the backup plan that goes into action when the worst-case scenario occurs. The goal of your contingency plan is to help your business stay up and running after an issue arises.

Business Continuity Plan vs. Contingency Plan

Although their names vary by few letters, business continuity and contingency plans are different concepts. Continuity is the ability of your business to continue functioning after an incident that has disrupted operations occurs. A contingency plan is an action plan that goes into place if an incident were to happen.

Contingency plans can significantly impact whether your business can achieve continuity. Being able to react and take action during a crisis can dictate whether or not your business can emerge from the other side and continue normal business operations.

You can think of it like this: your continuity plans contain five sections: program administration, governance, business impact analysis, strategies and requirements, and training and testing. If your business also uses contingency plans, it could be part of the strategies and requirements section, which dictates how your business will respond to a crisis if it occurs.

Contingency Planning: How to Make a Business Contingency Plan

Creating a contingency plan is responding to the question of "What if?"

What if your storefront floods? Or what if your supplier goes out of business? The responses to the what-ifs are contingency plans. These scenarios aren't necessarily going to happen, but if there is a possibility that they'll affect your business, you're prepared if they do.

Below we'll discuss the steps that go into contingency planning.

Contingency Planning in 7 Steps

1. identify critical business functions..

This first step is the most important aspect of your planning, as it sets the tone for why your plans need to exist in the first place.

During this phase, identify all critical areas essential to keeping your business up and running every day. As these operations are imperative to success, you need to have plans to ensure that these operations continue, regardless of whatever scenarios arise.

You can think of it like this: these critical areas keep your business up and running on a day-to-day basis. Other areas are important, but these are the main functions that keep you afloat. Given this, you want to be prepared for anything and everything that may happen that can affect the critical areas, whether positive or negative. Contingency planning is exactly that.

Identifying these areas helps you move on to the next step as you begin brainstorming possible scenarios that can impact them.

2. Conduct a scenario assessment.

Once you've identified the critical operations of your business, you'll want to conduct a scenario assessment to identify situations that will affect these functions and put stress on your day-to-day operations.

For example, if your business operates out of a storefront, keeping your storefront up and running is a critical area of your business's success. Maybe you launch a new product that attracts more interest than you thought, and you need to deal with higher in-store traffic and a lack of products to satisfy the market. While it is a positive situation that will draw in more revenue, it can still have negative repercussions for your business if you don't deal with it when it happens.

You can think of this stage as similar to a risk assessment, but the possibilities are positive and negative. It may be helpful to meet with people who work in these critical areas and understand what they think may cause interruptions to their job duties and barriers to their success. Ask them how they feel situations will impact them and how they would deal with each scenario.

If you come up with a long list of threats, you can prioritize them based on their likelihood of occurring and how significant their impact would be on your business.

3. Create contingency plans for each scenario.

During this phase, you'll create contingency plans. Begin with the highest priority "threats," or those most likely to occur and most likely to cause significant stress to your business.

Outline the scenarios, people to inform, and the roles and responsibilities involved parties will have when they respond. We'll go over an example below, but a helpful template to follow can be:

• Outlining the scenario,
• Determine the probability of it occurring,
• Explain how you'll prepare ahead of time,
• Detail what the response will be if and when it happens.

Once you've created your plans, distribute them to key stakeholders in each scenario, so everyone understands what they are responsible for and can prepare ahead of time.

4. Get your plan approved.

Once you’ve come up with a desired plan of action, it’s time to get approval from stakeholders and management. If you’re creating both department-level and company-wide plans, this is especially important. Your plan won’t be a success unless there is buy-in from key members of your team and management. Once all parties agree that the course of action described in the contingency plan works for everyone, you can move forward with confidence.

5. Share the plan with your team.

Once your plan is approved, it’s time to distribute it. Putting it in a shared folder accessible to everyone creates transparency and makes it readily available if the time comes.

Make sure the parties involved know what they’re responsible for in the plan, that way you can execute the plan seamlessly should the worst-case scenario occur.

6. Test your plans.

As with all plans, it's essential to continuously test (more on that in the next section) and update them over time. As businesses scale and change, your business needs will likely change, and specific scenarios will no longer have as significant of an impact. There may also be new scenarios to plan for that you hadn't anticipated or thought of when you were a smaller operation.

It can be helpful to create a timeline that you'll use to spend dedicated periods reviewing your plans, testing them, and communicating with the necessary stakeholders about any changes you've made to the plans.

7. Update your plan as needed.

Consider your contingency plan a work in progress. You’ll need to adapt it as new risks arise and to ensure it still makes sense for your business needs. Whenever a new manager or executive joins the team, be sure to share it with them as needed so they know what (if anything) is expected of them.

Contingency Planning Timeline

As planning is always an involved process, you may be wondering how much time you should devote to each step. Let's discuss a timeline below.

Week One: Identify Key Operations

Give yourself about a week to identify the operational areas essential for business function. You likely already know what these areas are, but you want to do enough research to identify them all.

Weeks Two & Three: Brainstorm Scenarios

Take two to three weeks to brainstorm the scenarios you're going to create plans for. Spend as much time as possible speaking to the necessary stakeholders to understand their ideas about the scenarios and how they'd like them dealt with. You'll want to conduct probability assessments and market research to understand if your competitors have ever dealt with something similar. You want to make sure you have all the necessary information before drafting your plan, so this step should be the longest.

Week Four: Draft Plan

Give yourself a week to draft your plans. The first two steps should give you all the information you need, so the third step is simply fine-tuning your research and creating the final plan. You can also share what you've created with your stakeholders and iterate on what you have based on their feedback.

The final step to creating your plan, maintaining and testing, is a continuous effort. As mentioned above, your business will likely be impacted by different things at different times, so it's always important to review plans and ensure they still relate to your needs. For example, maybe you plan to do quarterly reviews and training so new hires, and existing employees, are all on the same page.

Contingency Planning Example

It may be helpful to have an example of a contingency plan, so we'll go over one below. The examples are of a positive and negative situation, so you can get a sense of how a plan applies to both.

Contingency Planning Mistakes to Avoid

Even with the best intentions, your contingency plan may get off to a rocky start. Here are some common mistakes to avoid when creating one of your own.

Not securing executive buy-in first.

Before you can get your team or department onboard, you must get buy-in from the executive team. Otherwise, you risk creating a doomed plan from the start.

Get their feedback on potential risks and other factors that may impact guidelines in the plan. Having executive support from the start ensures the plan put forth is approved and also can motivate those at the department level to buy-in as well.

Failure to cover multiple scenarios.

When assessing potential risks and scenarios, it’s important not to cut corners or slack. Scenario planning is key to your contingency plan’s success. All potential risks should be taken into account. You can rank them by likelihood, but you should by no means leave less likely events out. Otherwise, you leave yourself vulnerable should the event happen.

Think about how many businesses were affected by supply chain issues during the pandemic. Most probably never predicted such a catastrophe, but the ones that had a plan in place for such an obstacle were better prepared.

Set it and forget it.

It’s really easy to get comfortable once your contingency plan is in place — after all, if you did your due diligence from the start, you’re ready to tackle any obstacle thrown your way.

Unfortunately, it’s not a one-and-done process. A contingency plan should be looked at as a living document and updated as needed. Your business needs will change over time and so will its obstacles and risks.

Create Business Contingency Plan

All in all, contingency plans help you prepare for a host of what-if scenarios, whether they happen or not. As you never want to be caught in a challenging situation, being prepared is the best thing you can do to ensure your business continues to succeed, regardless of whatever happens along the way.

As the saying goes, better safe than sorry .

Editor's note: This post was originally published in November 2021 and has been updated for comprehensiveness.

Don't forget to share this post!

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Top 10 Contingency Plan Templates with Samples and Examples

Mohammed Sameer

Most people only think of planning for the worst when things have already gone bad. The repercussions? Unsurmountable! 

Disasters can strike at any moment, without any warning, and if you're not prepared, the aftermath can be catastrophic. 

According to FEMA (Federal Emergency Management Agency), around 40% of small businesses never reopen after a disaster. Many of these businesses fail to prepare and implement a contingency plan, making them vulnerable to the devastating effects of unexpected events. This shows just how important it is to have a contingency plan to help protect your business and ensure its survival.

Disasters come in all shapes and sizes, and failing to plan for them is like playing Russian roulette with your business. That's why having a contingency plan is non-negotiable if you want to keep your head above water in times of crisis.

But where do you start? The short answer:  Contingency Plan Templates .

Contingency Plan Templates That Businesses Bet On

It's easy to get overwhelmed and not know what to do when disaster strikes. The key is to have a solid plan in place ahead of time. In just a few simple steps, you can create a contingency plan that will help you weather any storm that comes your way. Let's dive in and explore the top 10  contingency plan templates  to help you get that peace of mind. The 100% customizable nature of the templates provides you with the desired flexibility to edit your presentations. The content-ready slides give you the much-needed structure. 

Template 1: Contingency Plan PowerPoint Presentation Slides

Here’s a PPT Deck with six distinct contingency plan templates to equip you with the tools to combat risks and emergencies. These templates explain a probable scenario that a business can encounter and lay out an operational plan to tackle it efficiently. These templates also outline a preparedness and implementation plan to ensure your efforts take off on the right foot. Download now.

Download this template

Template 2: Contingency Planning and Resilience Mind PPT Template

Having an all-encompassing contingency planning framework is a must for today’s organizations. With the help of our PPT Slides, you can develop a close-knit plan that ensures business continuity, improves crisis communication, strengthens infrastructure protection, promotes cyber incident response , and reinforces disaster recovery. Grab it now.

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Template 3: Contingency Plan Scenario Response Strategy and Implementation

A business encounters many scenarios during its run, but not every business can face them all. SlideTeam presents a PPT Template that helps you build a scenario response strategy as a vital extension of your contingency plan. It explains your business scenario while fabricating implementation, operational support, and preparedness plans tending to a pre-decided budget. Get it now.

Template 4: Prepare a Contingency Plan PPT Design

Disruptions can strike any organization at any time. Use our PPT Presentation to underline the steps your organization must take in the event of an unexpected event or emergency. This template has a framework that helps identify milestones to track, evaluate risks, determine interdependencies, and assist in reviewing each step along the way. Download now.

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Template 5: Contingency Planning Timeline PPT Framework

When it comes to contingency planning, timing is everything. Developing a contingency plan takes time, but it's time well spent, as it can mean the difference between a minor setback and a major disaster. With our well-structured PPT timeline template, your organization can ensure that it's prepared for any unexpected event. It highlights the six main elements of the contingency plan timeline, including identification, execution, stabilization, incident recovery, continuity reaction, and incident detection. This template helps you prepare a timeline for up to six years. Download now.

Template 6: Contingency Plan Highlighting Severity

In a haste to ensure everything goes right for a business, top executives (sometimes even management) often overlook the possibility of what can go wrong. Here’s a PowerPoint Presentation that helps you focus on potential items/elements prone to risk and emergencies. It highlights the points which can go wrong concerning these elements, along with their severity level. You can use this information to formulate a contingency plan that serves as an impenetrable shield to safeguard your business. Get it now.

Template 7: Risk and Mitigating Strategies Matrix PPT Template

Our template features a unique matrix that highlights up to four key risk events, including interface problems, system freezing, user backlash, and hardware malfunctions. But the best part? Once these risk events are identified, our template helps align an appropriate response and weave a strategic contingency plan that considers these events' triggers. Get it now.

Template 8: Business Contingency Plan Equipment Facility Personnel Management

Is your business prepared for the unexpected? With our Business Contingency Plan PPT Template, it can be. Our template provides a well-structured layout for a contingency plan that encircles equipment, facility, and personnel management. It allows you to determine how long your business operations can run without these critical elements, their impact, and vulnerabilities and provides a contingency plan in the event of an emergency. It offers a clear and concise overview of your business's most critical elements, as well as their importance, and interdependencies. Download now.

Template 9: Contingency Plan PowerPoint Template

Presenting a contingency planning resort that covers the major aspects you must catalog to create a robust and effective plan. Our template empowers you to identify potential problems and their impact on your business. It also helps you in evaluating the consequences of different workarounds and determine the scope of your contingency plan. With our template, you can have a proactive approach to contingency planning to ensure that your business is prepared for any eventuality and can continue to thrive even in the face of unexpected challenges. Get it now.

Template 10: Contingency Planning PPT Template

Contingency planning and easy task are two terms never used in the same sentence. With our PPT Template, you will! Our template guides you through the essential elements of contingency planning, providing you with a comprehensive understanding of potential risks and their impact. From identifying potential problems to creating a contingency plan, our template offers a step-by-step approach that ensures you are well-prepared for any situation. The consequences of not having a contingency plan can be devastating, so why take the risk? Download our template today and secure your business's future!

Time to Prepare is Now

A contingency plan is not just something that’s "nice to have" for businesses - it's a critical component of responsible planning and risk management. The impact of unexpected events can be devastating, and without a contingency plan, businesses risk losing everything they've worked hard to build. Our PPT Templates help ensure that your business is well-positioned to navigate the challenges that come its way.

FAQs on Contingency Plan Templates

What is a contingency plan.

A contingency plan is a document that outlines the actions an organization will take in the event of an unexpected event or emergency. It helps businesses and other organizations prepare for and respond to potential crises, such as natural disasters, cyber-attacks, or financial emergencies. Contingency plans include a range of strategies and procedures to minimize the impact of unexpected events and to help organizations recover as quickly as possible. These plans are an important part of risk management and ensure the long-term survival of a business or organization.

What are the types of Contingency Plans?

There are many types of contingency plans that businesses and other organizations can create, depending on the risks they face. Here are some common types of contingency plans:

• Business Continuity Plan (BCP):  A BCP outlines the processes and procedures that an organization will follow to ensure that critical business functions can continue in the event of a disruption, such as a natural disaster or a cyberattack.
• Disaster Recovery Plan (DRP):  A DRP outlines the steps an organization will take to recover its IT infrastructure and data after a disaster, such as a power outage, equipment failure, or cyberattack.
• Crisis Management Plan:  It outlines the steps an organization will take to respond to and manage a crisis, such as a product recall, public relations crisis, or workplace violence incident.
• Risk Management Plan:  A risk management plan identifies and assesses potential risks to an organization and outlines the steps that will be taken to mitigate or avoid those.
• Emergency Response Plan:  An emergency response plan outlines the steps that will be taken to respond to and manage an emergency, such as a fire, natural disaster, or workplace accident.

What are the steps in Contingency Planning?

Here are the steps involved in contingency planning:

• Risk Assessment:  Identify potential risks that could impact the organization, such as natural disasters, cyber-attacks, or financial emergencies.
• Business Impact Analysis (BIA):  Evaluate the potential impact of these risks on critical business functions and identify areas where the organization may be vulnerable.
• Developing the Contingency Plan:  Develop a plan that outlines the specific strategies and procedures that the organization will follow in the event of a disruption, including steps to mitigate the impact, manage the crisis, and recover.
• Plan Implementation:  Implement the plan and ensure that all employees and stakeholders are aware of their roles and responsibilities in the event of a disruption.
• Testing and Training:  Regularly test the plan and provide training to employees to ensure that they are familiar with the plan and can effectively respond to a disruption.
• Plan Maintenance:  Continuously review and update the plan to ensure that it remains relevant and effective in the face of evolving risks and organizational changes.

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Business continuity plan template

Creating a fail-safe for your business is a great way to mitigate risk. Establish your backup strategy with a business continuity plan template.

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It’s not always fun thinking about things that could go wrong. But when you’re creating a business, taking the time to think about these things can help prevent risk. Creating a solid backup plan for your business can help ensure success—even if something bad happens. That’s where a business continuity plan can help.

What is a business continuity plan?

A business continuity plan (BCP) is a long-term strategy to help your business overcome and recover from major roadblocks. Creating a BCP ensures that, even if something goes wrong, your business still has a strategy in place to overcome that issue.

What’s the difference between a business continuity plan and a contingency plan?

What is a business continuity plan template.

A business continuity plan template is the basic framework of a continuity plan, which you can easily duplicate whenever you need to create a new plan.It’s intended to be used as a skeleton, so your team can fill it with the important information needed to establish a strong business continuity plan.

Using a business continuity plan template ensures that every single BCP you create has all the necessary information your team needs to make the plan successful. When there’s a repeatable framework, your team becomes more familiar with what information goes into a BCP. As a result, they’ll be more comfortable using the plan, should the situation arise. 

What components does a business continuity plan template have?

The goal of a business continuity plan template is to help everyone on your team understand what to do after an emergency happens. That means your BCP template should organize key information into the following categories. That way, your team can fill out the correct information when you build your strategy.

Directly responsible individuals (DRIs) or important tiger teams : These are the individual points of contact you would go to in case of an emergency. You’ll find contact information for the DRIs, plus the best way to reach them in this section.

Risk assessment: This includes risk analysis documents such as a risk register , which analyzes potential setbacks a project or your business may encounter. 

Action plan : The step-by-step plan your team will follow if an emergency happens.

Recovery procedures: This section details the steps your team should take to recover from any major business interruptions.

Crucial business functions: The key aspects of the business that are necessary to keep things functioning. These are the bare minimum operations that your business needs running smoothly if you want to stay functional. It’s important to highlight these functions so your team knows which areas to focus on should an emergency arise. 

Succession plan : In the event that leaders or DRIs are unable to fill a role, a succession plan provides a back-up person to take their place. 

Internal communication strategy: It’s important to develop a communication plan for how you share information with your entire team. Developing a communication strategy beforehand can help prevent misinformation and confusing messaging from going out to your team during emergency situations.

Alternate business processes (aka backup plans): This section details alternate ways your business can still function even if a part of it fails. This can include alternate vendors or suppliers, or manual workarounds for automated tasks. 

Why you should use a business continuity plan template

Using a business continuity plan template can help your team in a few different ways. Here’s how.

Faster recovery: When disaster happens, you want to be able to recover quickly to minimize the amount of downtime your company faces. Having a BCP template prepared can help minimize the amount of time it takes to develop a full BCP strategy.

Create multiple fail-safes: Sometimes one BCP is not enough. A BCP template can help you create multiple plans so you have more than one way to recover should an emergency occur. 

Insurance doesn’t cover everything: While insuring your business is a smart move, it won’t be able to help you in all situations, such as an economic downturn. Using a BCP template means your business is ready to develop a strategy before any external environments begin to change, so your team can start planning as soon as you catch wind of something on the horizon. 

Integrated features

List View . List View is a grid-style view that makes it easy to see all of your project’s information at a glance. Like a to-do list or a spreadsheet, List View displays all of your tasks at once so you can not only see task titles and due dates, but also view any relevant custom fields like Priority, Status, or more. Unlock effortless collaboration by giving your entire team visibility into who’s doing what by when.

Subtasks . Sometimes a to-do is too big to capture in one task. If a task has more than one contributor, a broad due date, or stakeholders that need to review and approve before it can go live, subtasks can help. Subtasks are a powerful way to distribute work and split tasks into individual components—while keeping the small to-dos connected to the overarching context of the parent task. Break tasks into smaller components or capture the individual components of a multi-step process with subtasks. 

Custom fields . Custom fields are the best way to tag, sort, and filter work. Create unique custom fields for any information you need to track—from priority and status to email or phone number. Use custom fields to sort and schedule your to-dos so you know what to work on first. Plus, share custom fields across tasks and projects to ensure consistency across your organization. 

Messaging . Need to share information that isn’t actionable? Try Messages in Asana. Messages enable you to communicate within Asana about non-actionable work. You can send messages to any combination of individuals, teams, and projects, so everyone is on the same page. Link to tasks, projects, and Goals in Asana to make it easy for your message recipients to gain context and drill down into the details.

Suggested apps

Microsoft Teams . With the Microsoft Teams + Asana integration, you can search for and share the information you need without leaving Teams. Easily connect your Teams conversations to actionable items in Asana. Plus, create, assign, and view tasks during a Teams Meeting without needing to switch to your browser.

Slack . Turn ideas, work requests, and action items from Slack into trackable tasks and comments in Asana. Go from quick questions and action items to tasks with assignees and due dates. Easily capture work so requests and to-dos don’t get lost in Slack. 

Google Workplace . Attach files directly to tasks in Asana with the Google Workplace file chooser, which is built into the Asana task pane. Easily attach any My Drive file with just a few clicks.

Zoom . Asana and Zoom are partnering up to help teams have more purposeful and focused meetings. The Zoom + Asana integration makes it easy to prepare for meetings, hold actionable conversations, and access information once the call is over. Meetings begin in Asana, where shared meeting agendas provide visibility and context about what will be discussed. During the meeting, team members can quickly create tasks within Zoom, so details and action items don’t get lost. And once the meeting is over, the Zoom + Asana integration pulls meeting transcripts and recordings into Asana, so all collaborators and stakeholders can review the meeting as needed.

How do you write a business continuity plan template?

Creating a business continuity plan template is simple. Start by using collaborative work management software like Asana so that your entire team can access the template. From there, create sections for all of the key components of a BCP template—like directly responsible individuals (DRIs), risk assessments, action plans, recovery procedures, crucial business functions, succession plans, internal communication strategies, and alternate business processes.

What are the four P’s of business continuity planning?

When you start filling out the key information in a business continuity plan template, there are four segments that you should consider: people (meaning your employees and potential customers), processes (the steps you need to take to run your business), premises (the physical location or locations of your business), and providers (business partners like suppliers and vendors).

What is a business continuity plan checklist?

A business continuity plan checklist is a list of tasks your team should complete when experiencing an emergency or potential risk. It helps by minimizing the amount of disruptions your business experiences when encountering issues or roadblocks.The easiest way to create this checklist is by using a business continuity plan template. That way, you have the same checklist for every strategy you create.

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Learn how to create a business continuity plan template in Asana with a free trial today.

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Business Continuity Planning

Organize a business continuity team and compile a  business continuity plan  to manage a business disruption. Learn more about how to put together and test a business continuity plan with the videos below.

Business Continuity Plan Supporting Resources

• Business Continuity Plan Situation Manual
• Business Continuity Plan Test Exercise Planner Instructions
• Business Continuity Plan Test Facilitator and Evaluator Handbook

Business Continuity Training Videos

The Business Continuity Planning Suite is no longer supported or available for download.

Business Continuity Training Introduction

An overview of the concepts detailed within this training. Also, included is a humorous, short video that introduces viewers to the concept of business continuity planning and highlights the benefits of having a plan. Two men in an elevator experience a spectrum of disasters from a loss of power, to rain, fire, and a human threat. One man is prepared for each disaster and the other is not.

View on YouTube

Business Continuity Training Part 1: What is Business Continuity Planning?

An explanation of what business continuity planning means and what it entails to create a business continuity plan. This segment also incorporates an interview with a company that has successfully implemented a business continuity plan and includes a discussion about what business continuity planning means to them.

Business Continuity Training Part 2: Why is Business Continuity Planning Important?

An examination of the value a business continuity plan can bring to an organization. This segment also incorporates an interview with a company that has successfully implemented a business continuity plan and includes a discussion about how business continuity planning has been valuable to them.

Business Continuity Training Part 3: What's the Business Continuity Planning Process?

An overview of the business continuity planning process. This segment also incorporates an interview with a company about its process of successfully implementing a business continuity plan.

Business Continuity Training Part 3: Planning Process Step 1

The first of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should “prepare” to create a business continuity plan.

Business Continuity Training Part 3: Planning Process Step 2

The second of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should “define” their business continuity plan objectives.

Business Continuity Training Part 3: Planning Process Step 3

The third of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should “identify” and prioritize potential risks and impacts.

Business Continuity Training Part 3: Planning Process Step 4

The fourth of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should “develop” business continuity strategies.

Business Continuity Training Part 3: Planning Process Step 5

The fifth of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should define their “teams” and tasks.

Business Continuity Training Part 3: Planning Process Step 6

The sixth of six steps addressed in this Business Continuity Training, which detail the process of building a business continuity plan. This step addresses how organizations should “test” their business continuity plans.

Last Updated: 11/08/2023

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10 Free Continuity Plan Templates in Word & ClickUp

ClickUp Contributor

October 12, 2023

Does your business have a plan when disaster strikes? Whether it’s a natural disaster or a PR crisis, having a ready-made playbook on hand will help you come out stronger on the other side of any emergency. 💪

While few businesses can predict a big disaster like the pandemic, companies with a recovery procedure in place can be better positioned to act faster in the future. When you invest in a business continuity plan (BCP), you can keep your team safe, avoid business disruptions, and protect your brand image. 

A business continuity plan covers all the potential emergency situations that could impact your business. But it takes time to create a solid continuity plan—and you need to focus your energy on the meat of the plan, not on formatting. 

Fortunately, BCP templates make it a breeze to quickly create contingency plans that leave no stone unturned. 🔍

In this guide, we’ll explain what a continuity plan template is, explain the key components of a BCP template, and share our top 10 free business continuity plan templates.

What Is a Continuity Plan Template?

What are the key components of a business continuity plan template, 1. clickup business continuity plan template, 2. clickup contingency plan template, 3. clickup probability and impact matrix template, 4. clickup business impact analysis template, 5. clickup priority matrix whiteboard template, 6. clickup emergency plan template, 7. clickup workplace emergency action plan template, 8. word business continuity plan template by disaster recovery plan template, 9. word small firm business continuity plan template by finra.org, 10. word business continuity plan template by legaltemplates.

A continuity plan template is a structured document that helps your business continue operating even during an emergency. 

At its core, a continuity plan template is all about preparedness. Whether you’re facing a natural disaster like a tornado or a human-made outage from a cyberattack, a BCP template gives you a roadmap to minimize business disruption and downtime. 

This isn’t just for big enterprises, either. Small businesses are more susceptible to disasters because they have fewer resources, so it’s extra important for small businesses to create a continuity plan.

The downside is that creating a BCP takes time and resources, which is why so many businesses don’t have one. Luckily, following a ready-made template can shave hours off the BCP creation process. It also helps you look at several facets of disaster preparedness so you’re less likely to overlook something important.

Every business has a different definition of what constitutes an “emergency.” The good news is that you’ll still be able to follow the same emergency management formula with the right template. A solid business continuity plan should include these components at a minimum:

• Table of contents : List all sections in the template—with jump links—for easy access
• Introduction: Introduce the BCP’s purpose and scope. It’s also important to distinguish when you need to use this plan and when it’s time to contact emergency services instead
• Risk assessment : This section should identify potential threats that could affect your business. It should include a business impact analysis to measure how damaging that particular risk would be to your company
• Recovery strategies: Once you understand the potential risks, you can create a strategic plan for recovery. Check with your legal team to see if there are regulatory requirements for this step
• Stakeholder roles and contact information : List all team members and their emergency contact phone numbers. Include relevant contacts in human resources (HR), information technology (IT), and the management team. The plan should also specify which stakeholders are in charge of each part of the plan
• Communication plan : Specify how you’ll share information with staff members, senior management, business partners, and the public

10 Free Continuity Plan Templates

A business continuity plan keeps your business running even when the going gets tough. Creating a plan takes time, but with the right template, you can streamline formatting and get straight to the good stuff. Check out these 10 free continuity plan templates to speed up the continuity plan creation process. ⚡

Equipment failures, pandemics, and natural disasters wreak havoc on any business. You need a flexible business plan that works even when the worst happens. That might mean you’re only performing critical business functions, but that’s better than nothing, right?

You can’t predict every potential disaster, but the ClickUp Business Continuity Plan Template is the next best thing to a magic crystal ball. 🔮

It includes several helpful sections for:

• Risk assessment
• Recovery strategies
• Process testing and reviews

This template even includes pretty visualizations and colors to draw your attention to the right places. Create custom statuses, fields, and views to make the template your own. 

The ClickUp Business Continuity Plan Template also integrates with your ClickUp project management tools so you can generate tasks, track time, create dependencies, and more without leaving your BCP template. 🤩

A contingency plan is different from a continuity plan. This type of BCP template identifies potential risks, lists possible solutions, and gives your team a strategic plan to respond to the most likely disruptions. 

The ClickUp Contingency Plan Template gives your team an expert framework for:

• Analyzing risks
• Setting goals and desired outcomes
• Finding resources and personnel for executing a contingency plan
• Testing all alternative scenarios

The great thing about this template is that it provides a process for creating a unique contingency plan tailored to the risks you care about the most. It also identifies team members’ responsibilities and tasks for every scenario, making your next steps crystal clear. 

We saw firsthand how easily a pandemic can cause massive business disruptions. But some disasters are more (and less) likely to have an impact on your business. 

For example, if you’re in the Midwest, hurricanes probably aren’t on your radar. However, if your supply chain relies on materials brought in from the coast, you’re probably going to care a lot about hurricanes. 🌀

The ClickUp Probability and Impact Matrix Template will help you sort through which risks are most likely to disrupt your business. It even ranks these risks in terms of potential damage to help you prioritize your time and resources. This way, you prep for the most damaging (and likely) emergencies first. 

This template is a must-have if your team struggles to make informed decisions or prioritize tasks. This business continuity plan template even includes a simple visualization you can share with other team members to make informed group decisions in less time. 🙌

A business impact analysis (BIA) identifies potential risks to your company. Once you identify the risks, the BIA logs all of the action plans you can activate in case of an emergency.

For starters, log every potential emergency in an issue tracking template . From there, use the ClickUp Business Impact Analysis Template to quickly plug in criteria like financial impact, brand reputation, customer experience, and more. ✨

This continuity plan template helps teams get out of unproductive cycles of anxiety by focusing on plan activation. Instead of going with your gut in a crisis, this rubric-style template supports calm, objective decisions using quantified data.

Once you know the higher-priority emergencies that could affect your business, you might still need help prioritizing which ones to address first. Use the ClickUp Priority Matrix Whiteboard Template to get clarity on which disaster plans and tasks you should execute first. 

You can use this template during the planning phase of creating a continuity plan or even when a disaster strikes. The Priority Matrix gets your team on the same page, ranks the urgency of various tasks, and visualizes everything for your group in a pretty graph. 📊

Every business continuity plan template should contain an emergency plan of some kind. The ClickUp Emergency Plan Template is useful not only for your continuity plan, but also for emergency signage throughout your building. 

You’re free to customize the plan to your liking, but out of the box, the template includes:

• Evacuation plans
• Escape routes
• Assembly points
• Roles of key personnel
• Step-by-step procedures for different emergencies

Some businesses make a single emergency plan while others will need to create multiples. For example, you can create an emergency plan for fires and a separate one for tornadoes. 🌪️

Keep in mind that local, state, or federal laws will apply to emergency signs. Check with your legal team to ensure you display these signs per those requirements. 

Some business continuity plan templates are designed for protecting business operations or the public, but it’s important to have a plan for protecting your employees too. The ClickUp Workplace Emergency Action Plan Template helps you do just that. 

This is a more in-depth emergency plan that helps you:

• Communicate quickly and clearly with employees during all types of emergencies
• Define who is in charge of what in an emergency—before the emergency actually happens
• Store all emergency plans in one secure place

An emergency plan is great because it equips your employees with the skills and knowledge required to rise above an emergency. Some insurance carriers require businesses to have a documented emergency plan, so this can also help you secure coverage. 🌻

ClickUp is an all-in-one workplace solution, so storing your emergency action plan in the same platform as your tasks and chats makes it more accessible for the entire team.

Are you a Microsoft company? Then you’ll love the Word Business Continuity Plan Template by Disaster Recovery Plan Template. It’s a publicly available version of MIT’s Business Continuity Plan, so you can trust that it covers all your bases. 

This free continuity plan template includes sections for:

• Introduction
• Design of the plan
• Organization of disaster response and recovery
• Business continuity plan
• Team management procedures
• Recovery procedures, including a notification list

Downloads are available for Word and Adobe PDF, but the template’s text is available on the website if you don’t want to download it.

The Financial Industry Regulatory Authority (FINRA) regulates the investment industry. Investments are all about risk management, so it’s no surprise that FINRA released a free Small Firm Business Continuity Plan Template .

A continuity plan is required if you’re a small brokerage firm or if you’re otherwise required to follow FINRA guidelines. Instead of wondering whether you’re compliant, follow FINRA’s continuity plan template for more peace of mind. 🧘

It includes sections for:

• Emergency contact personnel
• Office locations and alternate sites
• Firm policies
• Financial and operational assessments
• Mission critical systems
• Regulatory reporting
• Updates and annual reviews

You should still tailor the template to your unique needs, but the template will help you save a lot of time.

LegalTemplate’s Word Business Continuity Plan Template is no-frills, but it includes all the information you need to create your own business continuity plan.

We like that the site actually takes you through a structured process to create an incident response plan (IRP), emergency response plan (ERP), supply chain continuity plan, and other types of continuity plans that you might need.

LegalTemplates also throws in a few helpful tips for tracking your continuity plan goals over time . They say you need to review the checklist twice a year, practice implementing everything once a year, and do a formal revamp of your continuity plan every other year.

Improve Business Processes With ClickUp

Business continuity management is a must-have for businesses of all sizes. Whether it’s a natural disaster or other emergency, you need a plan long before the worst happens. 

Rely on this list of free continuity plan templates to create a disaster recovery plan that helps you get back to normal business operations more quickly. 👔

Templates are helpful, but wouldn’t it be better if you could store your templates alongside your Tasks, Projects, Docs, Whiteboards, and more?

ClickUp combines all your work into one platform to save time and eliminate the hassles of switching platforms. See the ClickUp difference for yourself: Create your free ClickUp Workspace now.

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For businesses and some individuals, minimizing the effects or damages becomes a number one priority when uncontrollable forces disrupt business operations and tasks. When problems such as natural disasters and security breaches strike the enterprise, business owners, together with their team, come up with approaches to amend the situation. In many cases, entrepreneurs look at emergency contingency plans as the action plan for the current predicament. This tool aligns methods to lessen possible business losses and other dilemmas. Learn more about the contingency planning process with this article.

Contingency Plan Example

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In simple terms, a contingency plan contains the list of solutions to probable incidents that may happen throughout the implementation of business plans and marketing plans . The document serves as a guideline on how to survive certain catastrophic events and minor mishaps. Companies with contingency plans at their disposal save sufficient time and maximize the implementation of the risk management plans .

Besides businesses, governments also utilize the contingency plan during certain emergencies. As the Covid-19 pandemic continues to horrify different countries, some politicians and their teams have contingency plans in case of particular situations. According to Business Insider, the British government had contingency plans ready if their prime minister succumbs to death while battling the virus infection. As Boris Johnson’s health deteriorated, the government made sure that possible resorts were taken into consideration. However, the prime minister survived the disease and returned to work a few weeks later. Indeed, contingency plans, even when it can sound harsh sometimes, have benefits.

The contingency plan for businesses concentrates on the preparedness for possible predicaments and uncertainties in the field. In reality, being “too prepared” is better than not being cautious at all. This document, as the backup plan or recovery plan for the company, should have all the necessary information to ensure the continuation of the enterprise. So, what are the steps in making a detailed plan?

In creating the emergency response plan , you should begin by listing down possible situations that may cause harm or delay the business processes. For the most part, such scenarios are not limited to calamities only. Instead, it also considers situations where the public questions the business’ integrity and reliability. Hence, you could include circumstances that threaten different aspects of the company.

When you have the complete list, proceed to the next step. Here, the planners formulate countermeasures to reduce the impact of the event. Some circumstances can have more than two solutions or alternative routes. As much as possible, write different versions of the fallback plan or risk plans .

In crisis management , the planners have to analyze the effectiveness of the plans and proposals. Aside from the countermeasures created by the planners, you also have to recognize the results from risk assessment reports . If some parts of the disaster plan are fuzzy, revise the content.

You can notice the importance of contingency planning by observing the recovery process of business utilizing the tool. When the enterprise has preparations, it can easily move forward after the collision with delays and dysfunctions. If the risk management strategy is complete, the planners should take time to assemble the necessary equipment, tool kits, and materials.

The business contingency plan focuses on how a company copes with the uncertainties at hand. In making an effective disaster recovery plan , you have to follow these five simple steps.

1. Establishing Management Protocols 2. Planning Processes 3. Implementing the Procedures in the Plan 4. Testing the Practicability of the Contingency Plan 5. Improving the Material

In most cases, the plans in the document depend on the needs of the company.

A useful contingency plan answers three essential questions, which, in turn, becomes the elemental composition of the document.

1. What are the scenarios? 2. How will an individual or company respond to the threat? 3. How can the business implement the emergency care plan ?

These three things become the basis when formulating the contents of the contingency plan.

In general, the contingency plan has different purposes, depending on the creator’s preferences. Right now, there are three examples of contingency plans: event contingency plans, operational contingency plans, and business continuity plans . The first type concentrates on official events and procedures in managing mishaps, while the second focuses on the manufacturing and management side of the enterprise. And last, the third type centers on the resumption of paused business operations.

Strategic planning plays an essential role in managing plausible problems in the industry. When companies utilize strategic plans , particularly focused on business disaster planning, the enterprise can quickly overturn the situation towards their advantage. With that, having contingency plans not only benefits the company during the occurrences but also safeguards the firm’s future. So, include this emergency action plan in your business plans.

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Example of a Business Contingency Plan

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Every business depends upon certain "givens," which range from retaining key personnel, to emergency planning, to credit arrangements. But what happens when a relatively young CEO is killed in an accident or when an earthquake destroys a company's headquarters? Or, when a line of credit is unexpectedly cancelled? There are practically an infinite number of things that can go wrong and negatively impact a business.

There are even unexpectedly good things that can be disruptive – a classic instance is the small business that gets a huge contract far beyond the company's current ability to fulfill it. Contingency plans lay out what should happen when one or more of these unexpected events occurs. Every business – large or small – needs its own unique contingency plan.

The following examples deals with how SEC requirements for contingency plans can affect a business.

What's the Problem?

Every contingency plan answers a question about a problem. In this instance, the SEC requires each Registered Investment Advisory firm to have on file plans that assure that the business can go forward and deal equitably with its client investors in the event that the head of the firm becomes unavailable through death, serious illness or accident. The question is simply: How will the firm handle client needs when the head of the firm becomes unavailable?

Information and Data Availability

The first thing the SEC requires is that there is will always be some means of clients being able to access their information in the firm's accounts, importantly the record of each client's current equity holdings, but also essential documentation related to tax advice and retirement planning. The contingency plan deals with this need in two ways:

• It states that all client information is stored on the firm's primary computer and that the computer is backed up continuously on a separate local drive and on the cloud. Specific retrieval information is provided.
• It states that records of all client holdings are also maintained at the brokerage where the firm executes all trades, and that each client has unrestricted access to brokerage records. 

This two-step data availability plan guarantees that if, the firm's building is destroyed, the information remains fully available offsite, both to the firm and, independently, to its clients. Since the firm's correspondent brokerage has the same SEC-mandated information availability obligation as the advisory firm, client records kept at the brokerage are also available at an offsite location maintained by the brokerage. Thus, client records are stored and continuously maintained at at least four separate physical locations and on the cloud.

Alternative Communication Means Between Advisors and Clients

The SEC also requires that each firm has in place an alternative means of communicating with clients. Having alternative means available allows the firm to continue to handle client accounts in a timely way in the event of a catastrophe. In addition to the firm's email address and telephone number, the firm maintains a mailbox in another city and periodically reminds each of its clients of that alternative address. The head of the firm also has a dedicated cell phone account separate from the firm's business telephone account or his personal cell number and makes sure that every client knows that independent number.

Alternate Communications Between Advisor and Employees

In this small firm, only the principal has authority to trade on behalf of its clients; therefore an alternative means of communication between the principal advisor and a single clerical employee isn't required to ensure that the business can continue without interruption. If the firm had multiple registered advisors handling client accounts, alternative communication means similar to those required for the principal advisor would be required and in place.

Regulatory Reporting Requirements

Because the business records are stored in more than one physical location and are also stored on the cloud, where they are available regardless of the advisor's location. As long as the advisor is in reasonably good health and of sound mind, no physical disaster or emergency is likely to impede the firm’s few and occasional regulatory reporting obligations.

If the advisor is seriously ill, dead or of unsound mind, the advisor’s wife – a well-established marketing professional – has instructions in place to notify clients, all of whom are personally known to her. She is also instructed in how to terminate the business as a registered institution, with notification to the SEC. At that point, the business will cease and the clients will assume responsibility for their own accounts with a minimum of disruption.

Access to Funds in the Event of Firm Termination

Clients have continuous and unimpeded access to funds and records at all times through the firm's correspondent broker.

The Takeaway for all Types  of Contingency Plans

This particular contingency plan for a small registered investment advisory service provides good information about contingency plans generally:

• Every contingency plan originates as the answer to a specific question, here: "What safeguards exist for the orderly continuation or termination of this service in the event of the principal advisor's inability to carry the business forward?"
• Every contingency plan provides specific solutions to one or more particular issues.
• The plan addresses how the company responds internally to the event and also how it responds to the event externally.
• More comprehensive contingency plans likely consist of several different specific plans like the one in the example, each of them addressing a specific crisis or an unexpected event. 

This particular plan addresses two issues common to many contingency plans: data loss and leadership incapacity. Other issues contingency plans often address are:

• natural disasters (also implicit in the example)
• public safety threats, employee and customer injuries and workplace accidents generally
• mismanagement, deliberate or unintended
• responsive planning to specific product liability issues.
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I am a retired Registered Investment Advisor with 12 years experience as head of an investment management firm. I also have a Ph.D. in English and have written more than 4,000 articles for regional and national publications.

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