Contingency as a Tool

Contingency planning is essential for managing project risk. We tailor contingency recommendations based on the project’s phase and the availability of information, giving your team a clear understanding of potential variances and helping you proactively navigate challenges.

Informed Decision-Making

Starting a new project is a significant undertaking. By integrating professional cost estimating practices, you gain a clearer view of your project’s direction, improved ability to identify key decision points, and enhanced certainty throughout the lifecycle.

Frequently Asked Questions

Cost estimating contingency typically improves as a project progresses from ~30% in the early conceptual phases to approximately 5% at the construction stages.

Hard costs represent the actual costs of the work – i.e. construction, low voltage, furniture, etc. Soft costs represent the professional fees required to plan and execute the work – i.e. architect and engineering fees, legal fees, insurance, etc. An overall project budget will include both hard and soft costs, as well as contingency.

We use a mix of sources including similar past project benchmarking, vendor solicitations, professional publications, and specific market conditions assessments.

Who We Serve