CONTINGENCY PLAN Definition

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CONTINGENCY PLAN is a plan that provides an outline of decisions and measures to be taken if defined circumstances, outside the control of the affected organization, should occur.

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COST CONTROL is the process of controlling the cost of a project within a predetermined sum throughout its various stages from inception to completion.

COST CENTER is a non-revenue-producing element of an organization, where costs are separately figured and allocated, and for which someone has formal organizational responsibility.

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