Contingency should not be based on a percentage added simply because it feels about right. Traditional approaches have often relied on broad allowances, line- item ranges and professional judgement. Experience still matters. But a robust contingency assessment should also be supported by research data and recognized industry guidance. Projectick’s in-house Monte Carlo simulation tool applies research-based methods aligned with AACE International recommended practices. Contingency is an … Continue reading How should Project contingency be calculated?