“Contingency Planning: The Four Components and Choosing the Right Method” Contingency planning is a crucial aspect of risk management for any organization. It involves anticipating potential disruptions or disasters and developing strategies to mitigate their impact on business operations.

Contingency planning consists of four major components: The Business Impact Analysis, the Incident Response Plan, the Disaster Recovery Plan, and the Business Continuity Plan. Whether an organization adopts one plan or multiple plans, each of these components must be addressed and developed entirely.
Taking into consideration the material from this module, discuss your experience with these four components of Contingency Planning. Additionally, discuss whether your organization has adopted the one-plan method or multiple-plan method. Do you think one method is better than the other? Justify your response.
Be sure to post an initial, substantive response by Thursday at 11:59 p.m. MT and respond to 2 or more peers with substantive responses by Sunday at 11:59 p.m. MT. Be sure you write a substantive initial post, answer the question presented completely and/or ask a thoughtful question pertaining to the topic. Also ensure your substantive peer responses has a thoughtful question pertaining to the topic and/or has answers to a question (in detail) posted by another student or the instructor.