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Risks are inherent in construction projects. In order to manage risks, contingency amount is set aside usually in an escrow account. Cost contingency can be a handsome amount that would

Risks are inherent in construction projects. In order to manage risks, contingency amount is set aside usually in an escrow account. Cost contingency can be a handsome amount that would get blocked during the execution of the project for further use, incurring constant opportunity cost. The stakeholders may wish to use this held amount for other endeavors during project execution. The managerial practices for dynamic contingency management are of extreme importance.

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    • 2016-05-20
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    Ayub, B., Thaheem, M. J., & Din, Z. U. (2016). Dynamic Management of Cost Contingency: Impact of KPIs and Risk Perception. Procedia Engineering, 145, 82-87. doi:10.1016/j.proeng.2016.04.021

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