Contingengy percentage and which specs. provide most flexibility

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Prajakta Dabhade

April 10, 2022 06:02

Hi all,

I do not clarity on answers to these two questions :

contingency cost percentage on a project : I always thought it was 5% but I guess it varies. 

Which specifications provide most flexibility ? 

Please advise.

Thanks in advance. 

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  John Koelsch April 10, 2022 20:06

  Contingencies are typically 10% in questions I've seen in practice exams, performance specs provide the most flexibility since operational requirements of the component are described rather than the physical characteristics like in prescriptive or proprietary

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  Brett Bowers April 13, 2022 02:08

  Contingencies decrease as project phases progress, considering that estimates become more refined from SD>DD>CD. From my notes, I have 10-15% for SD, 5-15% for DD, and 3-5% for CD.

  The other contingency to be aware of is a 10% schedule/time contingency for the design phases.

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  Prajakta Dabhade April 25, 2022 03:43

  Thank you John and Matthew! Much appreciated .

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