Some common synonyms of contingency are crisis, emergency, exigency, juncture, pinch, straits, and strait.
A contingency plan is sometimes referred to as "Plan B" or a backup plan because it can also be used as an alternative action if expected results fail to materialize.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.