"possible contingency" is a correct and usable phrase in written English.
You could use it in a sentence as "We need to plan for every possible contingency." It implies that you should plan for any possible outcome, or unexpected event.
A theoretical plan could never anticipate every possible contingency, and even the most carefully designed exercise cannot possibly mimic reality.
A careful man, mindful that his project would face countless obstacles, Ross tried to prepare for every possible contingency.
That's not so much a prediction as a very possible contingency, and we should be prepared for it.
"It takes a lot of guesswork on the part of the buyer's lawyer to try to cover every possible contingency," Mr. Selsberg said.
Dogýan has professed his innocence, and he told me that the war game was only a useful fiction to help the military prepare for a possible contingency.
He regularly grills the executives in J. P. Morgan's six business units over every possible contingency; he personally monitors the bank's largest credit and trading exposures.
"I certainly favored identifying every possibility and presenting every option to the president in response to possible contingencies".
They know the drill and all the possible contingencies so well that the flight is almost anticlimactic.
We need not, therefore, assume that we must be prepared, with our forces alone, to face multiple possible contingencies.
Indeed, Ethiopia had cut defence spending from $1.31 billion in 1991 to $124m in 1996 and had drawn up defence plans for all possible contingencies: war with Eritrea was not one of them.
"We support continued planning with Nato allies and other partners, including those in the region, to be ready to provide support for all possible contingencies as the situation evolves, including a no-fly zone," was the UK formula.The disputes also involved the French president, who sounded defensive afterwards.
