When planning a project, a small business must prepare a cost estimate. Companies use cost estimates to determine a project's affordability and decide whether to continue. Cost estimates typically ...

A small business can be negatively impacted by all sorts of changes or events, from natural disasters to entrance of new competitors into a market. A contingency plan is a document that outlines how a ...

Unfortunately, this book can't be printed from the OpenBook. If you need to print pages from this book, we recommend downloading it as a PDF. Visit NAP.edu/10766 to get more information about this ...

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 ...

I suggest rolling through the five areas listed above and identifying contingencies that are somewhat likely and would require a major change in the business. A company could have over a dozen major ...