What does the term contingency mean? Should contingency costs be included in a project proposal? Explain your

Question:

What does the term contingency mean? Should contingency costs be included in a project proposal? Explain your answer.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Successful Project Management

ISBN: 9780324656138

4th Edition

Authors: Jack Gido, Jim Clements

See More Books

Question Posted: Oct 04, 2012 06:12 AM

See More Questions

There are some who believe that HIV does not cause AIDS. Have all of Kochs postulates been met for HIV as the causative agent that leads to the development of AIDS? Cite evidence to explain your...
What is biometric authentication? What does the term biometric mean?
What does the term free on board mean? Why is this an important term to understand if you are involved in making decisions about the purchasing of inventory or the setting of prices for your products?
.How dependent do you think the success of zero-based budgeting would be on the types of attribution models used? How might you increase the odds of success in this budgeting approach? .Advertising,...
Find two linear transformations L1: R2 R2 and L2: R2 R2 such that L2 o L1 L1 o L2.
Discuss five of the How to Delegate principles.
Semi-variable costs form a part of product cost in marginal costing.
Weinberg Canning produces fillet, smoked salmon, and salmon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold at split-off or after further...
AK Corporation recently acquired new equipment to be used in its production process. In exchange, the company traded an existing machine that had an original cost of $60,000. The fair value of the...
To raise operating funds, North American Courier Corporation sold its building on January 1, 2024, to an insurance company for $500,000 and immediately leased the building back. The lease is for a...
A proposal for a project often includes a cost section. List and describe the items that should be included in this section.
What is the problem with making cost estimates too conservative or too aggressive?
Explain the circumstances in which we use the Wilcoxon signed ranks test.
A pistoncylinder device contains 0.85 kg of refrigerant-134a at 210 oC. The piston that is free to move has a mass of 12 kg and a diameter of 25 cm. The local atmospheric pressure is 88 kPa. Now,...
3.3. Using the BEMT, show the effect of increasing linear twist on the variations in inflow, thrust, induced power, profile power, and lift coefficient across the span of a rotor with four blades of...
By uploading this work, I attest that the work contained herein is solely my own, that I only used the given equation sheet as a reference, and that I have not received any information from anyone...
Demand for patient surgery at Washington General Hospital has increased steadily in the past few years, as seen in the following table: ...
Explain product analysis
The following footnote excerpted from the 1996 annual report of John H. Harland Company describes the company's accounting policies for property, plant, and equipment: Property, plant, and equipment...
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
Using the principles of diversity identified in the chapter, how can a leader be responsive and competent if his or her experiences are vastly different from that of the organization or its group...
Why is the business planning process an excellent exercise for any entrepreneur contemplating the start-up of a new venture?
What is the difference between a feasibility study and a business plan?
Why might it be better to start the business after completing the feasibility study and before completing a business plan?
Transcribed image text
QUESTION 20 Assume a company reported the following results Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) 5300,000 2 $240.000 40% ? 2 What is the net...
2. Using the graph provided below, determine the fixed cost, the total variable cost, the variable cost per unit, and the TOTAL COST to produce 60 units. Fixed Cost ______________ Variable Cost...

What does the term contingency mean? Should contingency costs be included in a project proposal? Explain your

Question:

Step by Step Answer:

The contractor or project team may include an amount for contingencies to cov...View the full answer

Successful Project Management

Students also viewed these Management Leadership questions