Field glossary
Contingency
Money in the estimate for known-unknowns: costs that will occur but are not yet defined, sized to the project's risk and design completeness. Not profit, padding, or forgotten scope.
Also defined as
- HVAC: Money priced into the bid to cover a specific job's risk and unknowns, kept separate from profit.
- Landscaping: Money carried in the bid against site conditions that could not be seen at estimate time