Managing Contingency and Budget to Complete

  • Ivan Damnjanovic
  • Kenneth Reinschmidt
Part of the Risk, Systems and Decisions book series (RSD)


In this chapter we discuss methods for updating and managing project contingency as the outcomes work packages become known. More specifically we provide bivariate and multivariate formulation with a number of examples to illustrate different situations in which the presented methods can be implemented.


Budget to complete Contingency Correlation Bayesian update 


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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Ivan Damnjanovic
    • 1
  • Kenneth Reinschmidt
    • 2
  1. 1.Texas A&M UniversityCollege StationUSA
  2. 2.College StationUSA

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