Please login or join to subscribe to this thread
What is your preferred way to calculate contingency?
Do you use EMV, expert judgement or just add a percentage as a buffer to calculate your contingency.
Sort By:
Newest First
Chronological
Votes
EMV based on identified risks but sanity check the aggregated amount via expert judgment.
Rami Kaibni
Senior Projects Manager | Field & Marten Associates
New Westminster, British Columbia, Canada
I normally add percentages per item based on previous experience. Other time I use EMV.
I think it is a combination of SME, EMV, Risk and percentage.
+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.
I use percentage, EMV, & predetermined guideline from AACE International
Anish Abraham
Privacy Program Manager| University of Washington
Auburn, Wa, United States
I normally use expert judgement and take a percentage of the cost of the project to calculate the contingency amount.
Ruth Marina Lopez Perez
Responsable TI| INSTITUTO DE PREVISION SOCIAL MILITAR - NICARAGUA
Masaya, Los Madrigales, Nindirí, Nicaragua
I use EMV and expert judgement.
Sylvain Costy
CIO| Handball French Federation
Draveil, France, France
On my side, it's an aggregate of previous experience, expert jugement and risk estimating. It depends of the project.
Quinton van Eeden
Enabling Quality Decisions by Addressing Uncertainty| TPG GRC
Johannesburg, Gauteng, South Africa
Integrated Cost Schedule Risk Analysis as per AACE Recommended Practices and risk tolerance of project owner
Please login or join to reply
"You can't have everything. Where would you put it?"
- Steven Wright
Community Champion
