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Answer :
Answer:
Contingency
Explanation:
The Contingency plan reflects recognition that sometimes the best laid plans do not work the way you intended.
Contingency plans are often used as a back up plan bearing in mind that the original plan may not work out as planned. This type of plan is very important so as not to channel all energy and resources into a course that would fail in the long run.
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Rewritten by : Jeany
Final answer:
The phrase is 'contingency plan,' which acknowledges that sometimes original plans fail. Contingency plans are essential in business and project management, as they provide alternative strategies when an initial plan does not succeed. Adaptive management is a continuous process of planning, acting, monitoring, and adjusting to accommodate changes and new information.
Explanation:
The phrase you're looking to complete is: contingency plan. This term reflects recognition that sometimes the best laid plans do not work the way you intended. A contingency plan is essentially a Plan B or a backup plan that is implemented when things don’t go as planned with the original strategy, known as Plan A.
Imagine a situation where a company faces an unexpected event that could potentially lead to a catastrophic outcome if they continue with their original plan. In this case, having a contingency plan allows them to mitigate the threat. This reflects the idea of asymmetric risk: the risk of continuing along a failing path outweighs the minor setbacks of enacting a contingency plan that wasn't initially needed.
In the context of natural resources or project management, this idea extends to adaptive management where plans are continually refined and adjusted based on new data and circumstances. This approach reduces the risks of sticking to a plan that is no longer viable, emphasizing the importance of flexibility and the ability to respond to change effectively.
