JUDGMENT OF CONTINGENCY BETWEEN RESPONSES AND OUTCOMES.

Contingencies are different from commitments. It is the implied obligation that is expected to take place depending on the outcome of the future event. Hence, one can say that contingencies are those obligations that may or may not become liabilities to the company because of the uncertainty of the...Risk responses identified using contingent response strategy is called contingency plans. As per the PMBOK Guide Contingent Response is "Some responses are designed for use only if certain events occur. We execute these Risk contingency response plans only when certain events occur.