How would you recognize the importance of using contingency funds for cost estimation, budgeting and control
Answers
Explanation:
In discussions of risk, the term “contingency” is often understood to be a number added to an estimate for project costs or durations to cover some element of risk or uncertainty. Owners establish contingency levels for each project based on acceptable risk, degree of uncertainty, and the desired confidence levels for meeting baseline requirements. When used to absorb the impacts of project uncertainty, the contingency is a form of risk mitigation, and so in evaluating potential project contingency funding, owners
Answer:
Thunderstorms develop in hot and humid areas. High temperature in this areas cause hot humid (with water vapours) air to rise up. So, strong upward rising winds with water droplets are generated. ... Upward movement of air and downward movement of water drops, together, cause lightning and sound.