Key Points of Contingency Drawdown Curves

Fundamentals of contingency and its place in the risk management process is well covered, however, less has been discussed on what to do with the contingency during a project’s life cycle after it has been estimated.

• Understanding what contingency is, and isn’t
• How to forecast contingency use
• Risk allocation relative to the contingency drawdown curve
• Distinction between cost contingency and schedule contingency

Kim oversees the Program Controls Team for the Chicago Department of Water Management PMO as Task Lead Program Controls Manager and manages Budget Analysts, Schedulers, and Loan and Disbursement Coordinators.

She has over 30 years of experience in the construction and engineering industry and has written and published two technical papers on contingency and deterministic estimating for AACE International. A native of the Chicagoland area, Kim has worked as a general contractor, project controls specialist, design manager, and project/program controls manager for heavy highway, transit, and renewable programs.

Host or Publisher AACE Chicago-Midwest Section