Contingency
Construction contingency definition. Learn why every project needs a 'just in case' fund for unforeseen conditions and risks.
Calculation Formula
Total Estimated Budget = Direct Costs + Overhead + Profit + Contingency Real Contractor Example
A $100,000 renovation includes a 10% ($10,000) contingency. When rotted subfloors are found under the old tile, the fund covers the repair.
Put This Into Practice
Knowing the definition is step one. RemodelFin tracks this in real time on every job — no spreadsheets.