Computer · Estimation and Costing
What is meant by 'contingency' in public works project estimates?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It refers to incidental charges of a miscellaneous character that cannot be classified under any distinct subhead, but their cost is added to the estimate.✓
- 2It is the completed supply or work done evaluated at the time of final measurement.
- 3It is the re-allotment of funds from one work to another work within the same division.
- 4It is defined as the total allotment of funds made to a department for a particular work.
Correct answer
It refers to incidental charges of a miscellaneous character that cannot be classified under any distinct subhead, but their cost is added to the estimate.
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