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Contingency
01
a possible condition in future that might happen as a result of something
02
the quality of happening by chance
03
the funds that are set aside for unforeseen expenses that may arise in the future
Example
We have a contingency plan in place in the event of severe weather.
The project manager devised a contingency plan to bypass potential bottlenecks in the construction timeline.
The team is working on a contingency plan to address potential challenges in the project.
When the original plan failed, they had to fall back on their contingency strategy.
The company decided to provide for contingencies by setting aside a portion of its budget for unexpected expenses.
