The Purpose of Contingency Planning Is Simple; Contingency Planners Work

question 8

True/False

The purpose of contingency planning is simple; contingency planners work to prepare their business,organization or institution to be better able to mitigate any disruption to normal business activities.

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Definitions:

As-needed Basis

A method or arrangement where resources are utilized or tasks are performed as and when required, rather than on a scheduled or continuous basis.

Cash Management

The process of collecting, managing, and investing a company’s cash and cash equivalents.

Appropriate Level

A suitable or optimal degree or magnitude for a particular situation or parameter, often used in finance and operations.

Cash On Hand

Funds that a company or individual has available in cash form, not invested or deposited in financial institutions.