Some sections of the Outlet Track, used for part of the 42km run leg, remain submerged as the Clutha River continues to drain a swollen Lake Wanaka.
Challenge Wanaka director Victoria Murray-Orr said contingency plans were in place, should the 3km stretch of the run need to be amended.
Mrs Murray-Orr, Challenge triathlon international director Felix Walchshofer, and run leg co-ordinator Terry Davis inspected the flood-threatened sections of the Outlet Track marathon course yesterday.
"We're hopeful the water will go down and we can have the run as normal," Mr Davis said, after looking at the course.
A decision will be made by Thursday, when competitors will be informed at an athletes' meeting, Mrs Murray-Orr said.
She was confident the water would recede and the track given the all-clear by the Department of Conservation for its use in Saturday's race.
Doc staff were on stand-by to carry out any remedial repair work needed on the the track once the water level fell further, she said.
An alternative 3km run section was ready, in the "unlikely" case of it being required.
Competitors will turn off at the Outlet Camping Ground and run the rise up the unsealed Outlet Rd to rejoin the normal course at Aubrey Rd.
The run would then extend further along Beacon Point Rd and turn at Waimana Place to head south back to the start/finish line along the lakeside track, Mrs Murray-Orr said.
"We're watching and waiting [on the river].
"We want to keep to to the original course, but we're satisfied the alternative will maintain the off-road integrity of the run."
