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Topics: Risk Management
What is your preferred way to calculate contingency?
Network:10345



Do you use EMV, expert judgement or just add a percentage as a buffer to calculate your contingency.
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Network:722



EMV based on identified risks but sanity check the aggregated amount via expert judgment.

Kiron
Network:85650



I normally add percentages per item based on previous experience. Other time I use EMV.
Network:3587



I think it is a combination of SME, EMV, Risk and percentage.
Network:79



+1 on estimating value at risk of high-probability risks, and use that amount. Senior leaders who question project budgets' contingency will find it hard to argue with that.
Network:1014



I use percentage, EMV, & predetermined guideline from AACE International
(Association of Advancement for Cost Engineering)
Network:1393



I normally use expert judgement and take a percentage of the cost of the project to calculate the contingency amount.
Network:92



I use EMV and expert judgement.

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