1. Allocation of Contingency Provision
Note: This is applicable to an Execution Project only.
For allocation of contingency provision, a contingency Change Request has to be approved by the change control board. Once approved follow the Project Budget Update Forecast Cost instruction to update Forecast monthly values. There is no impact to baseline budget, contingency provision updates Forecast values only.
- For allocation of contingency provision, the Change Request (B) fields need to be populated.
- Select ‘Change Control Request number’ from drop down list, and enter in Contingency Change field ‘$ amount.’ Multiple cost items can be updated against same request until all funds allocated.
Once the contingency provision has been allocated and the updates saved, the Current Budget will be updated to reflect the increase in budget available to be spent on the project.
