Contingency in construction refers to a specific amount of money set aside by contractors or project managers to account for unexpected costs that may arise during the course of a construction project. These unforeseen expenses could be due to changes in scope, material price fluctuations, or unforeseen problems that may arise during the construction process. The contingency fund acts as a safety net to ensure that the project stays on track and within budget, even when faced with unexpected challenges.Having a contingency plan in place is essential in construction to mitigate risks and uncertainties that can impact the overall success of a project. By having a contingency fund in place, project managers can better manage potential risks and uncertainties, ensuring that the project can proceed smoothly without delays or budget overruns. It provides a
What is Contingency?
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Eliminate the hassle of manual data entry and repetitive tasks with our automation tools. Our platform ensures a smooth transition with free setup and ongoing support, making it easy for your team to get started.
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"We saved hours eliminating manual data entry."
"Automating our data entry processes has saved us hours. The software captures and organizes our financial data accurately, reducing errors and freeing up time."
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