English · Work & Business
contingency
/kənˈtɪn.dʒən.si/
[/kənˈtɪn.dʒən.si/]
backup plan
Advancednoun
Definition
A future event or circumstance that is possible but not certain, or a plan for it.
Example
The team set aside a contingency budget in case material costs rose unexpectedly.
The team set aside a contingency budget in case material costs rose unexpectedly.
Etymology
From Latin 'contingere' (to touch, befall); the planning sense is established.
How & Where It’s Used
Used in project management, finance, and risk planning.