Difference between Risk Mitigation and Contingency Plan

This video describes difference between Risk Mitigation and Contingency Plan. In mitigation we spend money, resource in advance either risk occur or not. In contingency we do planning aside and when warning signs appear only then invest money and resource. -~-~~-~~~-~~-~- Please watch: "Introduction to MS Paint" https://www.youtube.com/watch?v=fhIGiUWdkzY -~-~~-~~~-~~-~-