What does the term "contingency plan" mean?

The term "contingency plan" refers to a strategy designed to manage unexpected events or emergencies that could disrupt normal operations. This type of plan outlines specific actions to take in response to various potential scenarios, ensuring that an organization can maintain safety, minimize risks, and continue essential functions during times of crisis. Contingency plans are crucial for preparedness, as they allow an organization to react quickly and effectively to unforeseen circumstances, thereby protecting both employees and assets.

In contrast, other options describe different types of planning or procedural frameworks. For example, a scheduled breakdown of routine procedures focuses on planned events rather than unexpected situations, while a plan to improve workplace efficiency emphasizes increasing productivity instead of managing crises. A guideline for employee evaluations pertains to assessing employee performance and does not directly relate to managing emergencies. Therefore, the correct choice captures the essence of what contingency plans are intended to accomplish in the context of risk management.