Project Management Institute

Contingency, risk and ensuring quality

Projects delays and cost overruns are not so much the result of bad estimates as they are due to an incomplete Work Breakdown Structure (WBS) that does not initially identify all the tasks involved. Most project managers tend to add safety or contingency unconsciously to task estimates which can result overestimation. This article discusses how project managers can be more proactive in planning their projects and recommends spending more time identifying each risk event before beginning the project, then accounting for those risks in a detailed WBS. Contingencies need to be reported as they are used, and sometimes, initial estimates need to be reassessed.
registered user content locked

Log in or join PMI to gain access

or Register

Advertisement

Advertisement

Related Content

Advertisement