A budget contingency of $1 million on a $10 million project means that the project will be planned for a cost of $10 million,but the project organization receives an extra $1 million to guard against unforeseen cost overruns.

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The Answer of A budget contingency of $1 million on a $10 million project means that the project will be planned for a cost of $10 million,but the project organization receives an extra $1 million to guard against unforeseen cost overruns.

A Budget Contingency of $1 Million on a $10 Million