Difference between Framework and Methodology Definition of methodology The Treasury Enterprise Architecture Framework defines a methodology as: "A documented approach for performing activities in a coherent, consistent, accountable, and repeatable manner." The definition of methodology in oxford dictionary is “A system of methods used in a particular area of study or activity” which is still confusing because it still defines methodology as methods. I found a better definition in Cambridge dictionary, which is “ a system of ways of doing, teaching, or studying something”. In other words, it means that a methodology is a systematic way of doing something. Now as you can see the term is made of two parts. Method and ology and as we know any word ends with “ology” means a subject of study or; a branch of knowledge. Therefore, by knowing the meaning of method we can easily understand term methodology Method definition in oxford dictionary is” A particula...
Difference between Risk Mitigation & Contingency Plan Every risk based on score, both Mitigation & Contingency plans are prepared Risk Mitigation Plan Risk Contingency Plan Planning of identifying actions which should take in advance irrespective of, risk is occurred or not. Plan actions and monitor through some certain warning signs. These actions are taken only the risk occurs. spend time and money in advance for the given risk condition Not spend time or money in advance, but keep them ready, and invest them when needed By applying a mitigation plan, chances of occurrences might reduce, risk score can reduce etc., Applying of contingency plan, will not change the probability or impact of the current risk, but plan to control the impact as risk event looks like occurring. This works as the first level of defense for the high exposure risks This works as a fallback plan for the high exposure risks.