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Topics: Construction, Cost Management, Risk Management
How do you use a Risk Register to determine the contingency on a construction project?

How do you a Risk Register to determine the amount of contingency and/or allowances on a GMP contract?
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Arthur -

The process shouldn't be different than for other types of projects - identify your risks, analyze them, and use expected monetary value or other methods to estimate the aggregate potential expected impact of them.



Like mention by Kiron not different. You should have a schedule done that could help. With the schedule you could make simulation to go further in your risk estimate. That can be done in other field. In Construction you often have various cost for late delivery or work perform in odd timing. So a full analysis of the schedule may reveal other cost at risk.

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