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Contingency Approach
Contingency or Contingent may refer to: * Contingency (philosophy), in philosophy and logic * Contingency plan, in planning * Contingency table In statistics, a contingency table (also known as a cross tabulation or crosstab) is a type of table in a matrix format that displays the (multivariate) frequency distribution of the variables. They are heavily used in survey research, business i ..., in statistics * Contingency theory, in organizational theory * Contingency theory (biology) in evolutionary biology * Contingency management, in medicine * Contingent claim, in finance * Contingent fee, in commercial matters * Contingent liability, in law * Contingent vote, in politics * Contingent work, an employment relationship * Cost contingency, in business risk management * "Contingency" (''Prison Break''), a television series episode See also * Contractual term, upon which agreed outcomes are contingent {{dab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency (philosophy)
In philosophy and logic, contingency is the status of propositions that are neither true under every possible valuation (i.e. tautologies) nor false under every possible valuation (i.e. contradictions). A contingent proposition is neither necessarily true nor necessarily false. Overview Propositions that are contingent may be so because they contain logical connectives which, along with the truth value of any of its atomic parts, determine the truth value of the proposition. This is to say that the truth value of the proposition is ''contingent'' upon the truth values of the sentences which comprise it. Contingent propositions depend on the facts, whereas analytic propositions are true without regard to any facts about which they speak. Along with contingent propositions, there are at least three other classes of propositions, some of which overlap: * '' Tautological'' propositions, which ''must'' be true, no matter what the circumstances are or could be (example: "It is the cas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency Plan
A contingency plan, also known colloquially as Plan B, is a plan devised for an outcome other than in the usual (expected) plan. It is often used for risk management for an exceptional risk that, though unlikely, would have catastrophic consequences. Use Contingency plans are often devised by businesses or governments. There are five steps of implementing contingency plan, which are organize a planning team, assess the scope of the problem, develop a plan, test the plan, and keep the plan up-to-date. For example, if many employees of a company are traveling together on an aircraft which crashes, killing all aboard, the company could be severely strained or ruined by such a loss. Therefore, many companies have procedures to follow in the event of such a disaster. The plan may also include standing policies to mitigate a disaster's potential impact, such as requiring employees to travel separately or limiting the number of employees on any one aircraft. During times of crisis, co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency Table
In statistics, a contingency table (also known as a cross tabulation or crosstab) is a type of table in a matrix format that displays the (multivariate) frequency distribution of the variables. They are heavily used in survey research, business intelligence, engineering, and scientific research. They provide a basic picture of the interrelation between two variables and can help find interactions between them. The term ''contingency table'' was first used by Karl Pearson in "On the Theory of Contingency and Its Relation to Association and Normal Correlation", part of the ''Drapers' Company Research Memoirs Biometric Series I'' published in 1904. A crucial problem of multivariate statistics is finding the (direct-)dependence structure underlying the variables contained in high-dimensional contingency tables. If some of the conditional independences are revealed, then even the storage of the data can be done in a smarter way (see Lauritzen (2002)). In order to do this one can use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency Theory
A contingency theory is an organizational theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions. Instead, the optimal course of action is contingent (dependent) upon the internal and external situation. Contingent leaders are flexible in choosing and adapting to succinct strategies to suit change in situation at a particular period in time in the running of the organization. History The contingency approach to leadership was influenced by two earlier research programs endeavoring to pinpoint effective leadership behavior. During the 1950s, researchers at Ohio State University administered extensive questionnaires measuring a range of possible leader behaviors in various organizational contexts. Although multiple sets of leadership behaviors were originally identified based on these questionnaires, two types of behaviors proved to be especially typical of effective leaders: ''(1) consideration'' leader behaviors that inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency Theory (biology)
In biology, the wonderful life theory, also known as contingency theory, postulates that after hundreds of different phyla evolved during the Cambrian period, many of them subsequently became extinct, leaving the relatively few phyla that exist today. The theory was first suggested in 1989 by Stephen Jay Gould in his book '' Wonderful Life''. Evolutionary iconography In Wonderful Life, Stephen Jay Gould discusses the iconography of evolution in popular culture and the damaging effects of the march of progress on public understanding of the theory. The march of progress, Gould argues, has led to the popular interpretation that the evolution of increased mental powers, ultimately culminating in the development of man’s complex brain, is the natural outcome of evolution. Thus, the term “Evolution” is often conflated with a linear progression of life towards ever-increasing mental powers and a “comfortable view of human inevitability and superiority.” Gould argues that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingency Management
Contingency management (CM) is the application of the three-term contingency (or operant conditioning), which uses stimulus control and consequences to change behavior. CM originally derived from the science of applied behavior analysis (ABA), but it is sometimes implemented from a cognitive-behavior therapy (CBT) framework as well (such as in dialectical behavior therapy, or DBT). Incentive-based contingency management is well-established when used as a clinical behavior analysis (CBA) treatment for substance use disorders, which entails that patients' earn money (vouchers) or other incentives (i.e., prizes) as a reward to reinforce drug abstinence (and, less often, punishment if they fail to adhere to program rules and regulations or their treatment plan). Another popular approach based on CM for alcoholism is the community reinforcement approach and family training (CRAFT) model, which uses self-management and shaping techniques. By most evaluations, its procedures produce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Claim
In finance, a contingent claim is a derivative whose future payoff depends on the value of another “underlying” asset,Dale F. Gray, Robert C. Merton and Zvi Bodie. (2007). Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk. ''Journal of Investment Management'', Vol. 5, No. 4, (2007), pp. 5–28 M. J. Brennan (1979). The Pricing of Contingent Claims in Discrete Time Models. ''The Journal of Finance''. Vol. 34, No. 1 (Mar., 1979), pp. 53-68 or more generally, that is dependent on the realization of some uncertain future event.Sean Ross What kinds of derivatives are types of contingent claims? Investopedia These are so named, since there is only a payoff under certain contingencies."Approaches to valuation", Ch2. in Aswath Damodaran (2012). ''Investment Valuation: Tools and Techniques for Determining the Value of any Asset''. John Wiley & Sons. Any derivative instrument that is not a contingent claim is called a forward commitment. The prototypical c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Fee
A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice. In the law, a contingent fee is defined as a fee charged for a lawyer's services that is payable only if a lawsuit is successful or results in a favorable settlement, usually in the form of a percentage of the amount recovered on behalf of the client. Contingent fees may make it easier for people of limited means to pursue their civil rights since otherwise, to sue someone for a tort, one must first be wealthy enough to pursue such litigation in the first place. Due to the risk of loss, attorneys will not take cases on a contingency basis unless they believe that the case has merit, although accepting cases on a contingency is not without risk. Contingent legal fees Under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Liability
In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome. A footnote to the balance sheet may describe the nature and extent of the contingent liabilities. The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable. It may or may not occur. Classification According to International Monetary Fund's ''Government Finance Statistics Manual'', contingent liabilities shall be classified as: * Explicit contingent liabilities ** Guarantees *** One-off guarantees **** Loan and other debt instrument guarantees (publicly guaranteed debt) **** Other one-o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Vote
The contingent vote is an electoral system used to elect a single representative in which a candidate requires a majority of votes to win. It is a variation of instant-runoff voting (IRV). Under the contingent vote, the voter ranks the candidates in order of preference, and the first preference votes are counted. If no candidate has a majority (more than half the votes cast), then all but the two leading candidates are eliminated and the votes received by the eliminated candidates are distributed among the two remaining candidates according to voters' preferences. This ensures that one candidate achieves a majority and is declared elected. The contingent vote differs from IRV which allows for many rounds of counting, eliminating only one weakest candidate each round. IRV allows a small chance the candidate outside the top two can still win. The contingent vote can also be considered a compressed form of the two-round system (runoff system), in which both 'rounds' occur witho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Work
Contingent work, casual work, or contract work, is an employment relationship with limited job security, payment on a piece work basis, typically part-time (typically with variable hours) that is considered non-permanent. Although there is less job security, freelancers often report incomes higher than their former traditional jobs. Contingent workers are also often called consultants, freelancers, independent contractors, independent professionals, temporary contract workers or temps. According to the US Bureau of Labor Statistics (BLS), the nontraditional workforce includes "multiple job holders, contingent and part-time workers, and people in alternative work arrangements". These workers currently represent a substantial portion of the US workforce, and "nearly four out of five employers, in establishments of all sizes and industries, use some form of nontraditional staffing". "People in alternative work arrangements" includes independent contractors, employees of contract com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Contingency
When estimating the cost for a project, product or other item or investment, there is always uncertainty as to the precise content of all items in the estimate, how work will be performed, what work conditions will be like when the project is executed and so on. These uncertainties are risks to the project. Some refer to these risks as "known-unknowns" because the estimator is aware of them, and based on past experience, can even estimate their probable costs. The estimated costs of the known-unknowns is referred to by cost estimators as cost contingency. Contingency "refers to costs that will probably occur based on past experience, but with some uncertainty regarding the amount. The term is not used as a catchall to cover ignorance. It is poor engineering and poor philosophy to make second-rate estimates and then try to satisfy them by using a large contingency account. The contingency allowance is designed to cover items of cost which are not known exactly at the time of the estim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
