Contingency planning and crisis management are different only in terms of the magnitude of the problem the company faces (i.e.,crisis management deals with problems of larger magnitude).

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Contingency planning and crisis management are different in terms of both the nature and magnitude of the problem. Contingency planning deals with preparing for potential events that may cause disruptions or problems while crisis management deals with responding to actual events that have already occurred and pose a significant threat to the organization's operations, reputation, or sustainability. Crisis management typically involves a more immediate and intense response to address the situation and mitigate the impacts, while contingency planning may involve more proactive and preventive measures to minimize potential risks and disruptions.

Contingency Planning and Crisis Management Are Different Only in Terms