How to Compute Adequate Contingency
Managing Project Budgets (Webinar 5)
Even in the best managed project, something is bound to go wrong. Budget contingency is used to offset the cost impact of risks that materialize, error-of-estimate, variability in outcomes, and Murphy’s Law. But…how much contingency is enough? This webinar demonstrates a method for estimating an adequate amount of contingency.
Join us for this 1 hour in depth presentation to learn the alternative to guessing how much budget contingency would be adequate by examining the probable cost of recovering from risks, error-of-estimate, and the inevitable variability in outcomes and costs.
In this webinar participants learn about:
- Why using rules of thumb actually introduce budget risk into projects
- How the actual cost of an activity really lies in a range
- How to use the range of probable cost outcomes to compute contingency
EARN 1 PDU after viewing this webinar.
This webinar aligns to the PMI Talent Triangle – Technical.
Solutions Cube Group’s webinars are presented by experienced staff members and partners who have over 30 years of experience managing projects and developing and running facilitated project meetings and delivering project management training courses.
During checkout you will be asked to provide your name and email address to automatically register you for the webinar you’ve purchased. Click on Watch Webinar to stream the webinar on Windows Media Player (PC). If you use QuickTime (Mac) we recommend installing a free video viewer called VLC media player at http://vlc-media-player.en.softonic.com/mac to stream the webinar.
If you have questions about your purchase or would like to receive a copy of the presentation slides, contact us at customerservice@SolutionsCubeGroup.com or call us at 972.786.0900.
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