Which of the following is a long-term version of contingency planning?
A) benchmarking
B) scenario planning
C) forecasting
D) staff planning
E) operationalizing

Question

Quizplus · Accepted Answer

Scenario planning involves creating multiple plausible future scenarios and identifying potential risks and opportunities for each one. This is a long-term version of contingency planning as it looks at possible outcomes over a longer time horizon and helps organizations prepare for a range of potential futures. The other options listed are not necessarily long-term versions of contingency planning. Benchmarking involves comparing performance to industry standards or competitors, forecasting involves predicting future outcomes based on past trends and data, staff planning involves determining future staffing needs, and operationalizing involves putting plans into action.

Which of the Following Is a Long-Term Version of Contingency