What is Budget Contingency Planning
Expert Answer
Contingency Budget is generally the amount that is kept aside asbuffer in order to cover unexpected costs that the project mayexperience during the execution phase of the project and helpovercome a crisis situation as well. This planning is generallydone based on the total cost of the project where a percentage isgenerally kept aside for such situations where the project mayexperience something unplanned or something that is beyond the planand scope of the project.