What are the most effective contingency planning strategies for financial risks?
Contingency planning is a vital skill for program managers, especially when it comes to financial risks. Financial risks are uncertainties that can affect the budget, cash flow, profitability, or funding of a program. They can arise from various sources, such as market fluctuations, currency exchange rates, regulatory changes, supplier delays, or unforeseen expenses. To minimize the impact of financial risks on your program, you need to apply some effective contingency planning strategies. Here are some of the most important ones:
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Giovana M.?? International Development Leader | Monitoring & Evaluation | Transforming Data into Impact | Fundraising Strategist…
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Abhishek NaradDirector | Product Management | Driving Innovation at OSTTRA | Expert in Financial Technology Solutions | Ex Accenture…
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Johann DiazTeaching 'Service-Led Business Growth' | Transforming Service Delivery with AI | 35+ Years Leading the Service…