A Solid Case for Contingency Funds Stamps Out Uncertainty

Author(s): Elise Min

Uncertainty is an unavoidable factor of any project or task regardless of how well-planned it may be. This factor can lead to unexpected changes which can increase the costs or extend the schedule beyond original estimates, preventing projects from completing. Therefore, in order to mitigate the risk of wasted time, money, and effort, a contingency fund should be included within all project budgets.