Contingency planning

Date: 2015-10-07; view: 454.

Contingency planning and its specifics.

Single-use plans

Operational planning

Operational planning. Single-use plans.

An operational planning is a subset of strategic work planning. It describes short-term ways of achieving milestones and explains how, or what portion of, a strategic plan will be put into operation during a given operational period, in the case of commercial application, a fiscal year or another given budgetary term. An operational plan is the basis for, and justification of an annual operating budget request. Therefore, a five-year strategic plan would need five operational plans funded by five operating budgets.

A set of activities aimed at achieving a specific goal within a particular budget and time period that is unlikely to be repeated in future. Examples of a single use plan that could be employed by a business might be an advertising campaign for a new product launch or an integration plan for a recent acquisition.

In business continuity and risk management, a contingency plan is a process that prepares an organization to respond coherently to an unplanned event. The contingency plan can be also used as an alternative for action if expected results fail to materialize. A contingency plan is sometimes referred to as "Plan B."