Home > Terms > English, UK (UE) > Contingency allowance

Contingency allowance

As a result of risk analysis, money or time may be set aside as contingency, which may be used in the event of risks occurring. Contingency allowance provides for variations, which may occur in the expected values of elements of cost or schedule, but not scope or quality. (Note: contingency should not be shown in the plan as separate items and not hidden in activities as ‘an extra 10%’ on duration or cost.)

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