A Contingency Rate of 10% on a Building Project Budgeted

question 19

Multiple Choice

A contingency rate of 10% on a building project budgeted at $20 million means the project organization is hoping to bring the project in for around:

• A) $22 million.
• B) $2 million.
• C) $18 million.
• D) $200 million.

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Definitions:

Political Response Continuum

A range of actions or strategies an individual or organization might employ in response to political events, pressures, or environments, from passive to active engagement.

Petroleum Company

An organization engaged in the exploration, extraction, refining, transporting, and selling of petroleum products.

Political Response Continuum

A concept that outlines the range of possible responses an organization can have to political challenges or pressures.

Legal Audit

A comprehensive review of an organization's adherence to legal obligations and regulatory requirements.