Assign Risk Based Contingency Cost - EcoSys - 4.11 - Help - Hexagon

EcoSys Projects Help (4.11)

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EcoSys Standard Version
4.11

For the Risk-based Contingency line items, the Contingency % of budget is calculated based on the Risk Score and contingency % set in Project Setup > Risk Settings.

  • If 1 £ Risk Score £ 7, Contingency % of budget = Unapproved Non-Contingency WBS budget * (% Contingency Risk Low)

  • If 8 £ Risk Score £ 16, Contingency % of budget = Unapproved Non-Contingency WBS budget * (% Contingency Risk Medium)

  • If 17 £ Risk Score £ 25, Contingency % of budget = Unapproved Non-Contingency WBS budget * (% Contingency Risk Low)

The Unapproved Cost is calculated based on the included Risks that are associated with the Project.

This procedure allows you to assign the Risk Contingency cost to a Contingency type of budget line item based on the included Risk.

For Contingency line items, the Currency is the Object Currency.

  1. In the Original Budget Summary panel, click any Unapproved Cost hyperlink which is of Contingency type.

  2. In the Contingency Builder panel, click the Risk Based tab.

  3. (Optional) To view the Unapproved Contingency Cost for other contingency line items, click the Object ellipsis and select the required contingency line item.

  4. To assign the Risk Based Contingency cost to the budget line item, select Include Cost against the Risk that you want to assign.

    • The Contingency cost is calculated based on the Risk Score and Contingency % entered in the Project Setup.

    • Closed Risks does not appear in the Risk Based tab.

  5. Click SAVE.

  6. To create Unapproved Cost for Contingency type budget line items, see Create Contingency Transactions.

    After executing the Create Contingency Transactions action, Include Cost gets unselected so that Contingency Builder is ready for next iteration of calculation.