Health Finance and Project Management: Assessment Discussion Board



Health Finance and Project Management: Assessment Discussion Board

Contingency funds represent the amount that is kept aside by the company to cover the unreported or underestimated expenses. Firms hold contingency funds as safety reserve in order to cover up the expenses when available resources does not prove to be sufficient as a key funding resource (Schiller, 2008). Therefore, contingency funds represent the reserve amount that enables smooth flow of project activities/tasks by guarding against possible losses of important assets. This shows that contingency funds are a part of project budget for uncertain and unexpected ...