A quote I saw on Linkedin the other day by Elizabeth Holmes – Theranos Founder & CEO she said “The minute you have a back-up plan, you’ve admitted you’re not going to succeed”. To be honest, I’m sure there is more to this statement, so won’t judge too much.
Seriously, from a project management stand-point implementing a contingency plan is a crucial component of a project.
A project is a temporary endeavour to create a unique result for the client. If I don’t apply my processes, methods, knowledge, skills and experience to achieve the project objectives – I’ve failed.
Project teams are also an important part of this planning stage. It’s important to me to collaborate with them and get their professional input.
Events for example, you have to be prepared for factors outside of your control eg bad weather, power outages etc
So you wouldn’t be delivering the best value to your client if a contingency plan is not implemented into the project.