General Studies · Project Management and Budgeting
Which of the following best defines 'contingency cost' in project budgeting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A fixed amount pre-allocated solely for official scope changes
- 2The core administrative expenditure of project management activities
- 3An additional surcharge directly billed to the client
- 4Funds reserved to cover unexpected expenses or identified risks during execution✓
Correct answer
Funds reserved to cover unexpected expenses or identified risks during execution
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