Calculating every contingency cost

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Reference no: EM1336261

Q1) Why is it important for management to understand the forecasted cost at completion (FCAC)? What if the FCAC is less than the original expected budget? Will they still want to know the details?

Q2) What are contingency costs? How can you incorporate them into your project planning? Should you, as the project manager, try to control and calculate every contingency cost you can think of?

Reference no: EM1336261

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