Mentor Source, Inc. Project Budgeting Considering Risk - 1 seat (1 user, 1 course, 2 hours, online webinar)
Traditional budgeting accounts for the task costs, the costs to execute the tasks required for the project deliverables. If risk is taken into account at all it is lumped into an unsupportable value called ¿contingency.¿ Contingency is typically calculated as a percentage of the task costs. The source of the contingency percentage is often determined by a visit to Professor Dumbledore, i.e. it comes from wizardry and thin air. The contingency dollars are usually sliced by the budgeteers since it is not defensible. This 2 hour presentation by Rich, provides a rationally derived and defensible set of values for both the risk and contingency budgets.