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Q » How does the concept of 'contingency' apply to both cost and schedule?
17 Oct, 2025
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A » In construction, 'contingency' refers to budgeted amounts set aside to address unforeseen costs and schedule delays. For cost, it covers unexpected expenses, while for schedule, it accounts for potential time overruns. Effective contingency planning helps mitigate risks, ensuring project continuity and financial stability, thereby minimizing disruptions and maintaining project timelines and budgets.
17 Oct, 2025
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