In the context of construction, contingencies refer to unforeseen events or circumstances that may arise during the course of a project. These can include issues such as inclement weather, delays in obtaining necessary permits or materials, or unexpected changes in design specifications. Contingencies are typically included in a project budget to account for these potential risks and ensure that there are sufficient funds available to address them if they occur.Contingencies are an important aspect of project planning and management in the construction industry, as they help to mitigate the impact of unexpected events on the schedule and budget of a project. By including contingencies in the initial project budget, contractors and project managers can better prepare for and respond to unforeseen challenges, minimizing disruptions and keeping the project on track
What is Contingencies?
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Top 3 reasons construction finance teams use the Vergo platform
automate manual processes
Eliminate the hassle of manual data entry and repetitive tasks with our automation tools. Our platform ensures a smooth transition with free setup and ongoing support, making it easy for your team to get started.
streamline communication with the field
"Improve coordination and information flow between your office and field teams with our desktop and mobile app. Our platform enables real-time updates and seamless communication, keeping everyone on the same page.
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unlock better reporting & analytics
Transform your data into actionable insights with our powerful reporting and analytics tools. Our platform provides instant access to critical information and dedicated support to help you make informed decisions faster.
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"Our finance team absolutely love the platform."
"The platform has boosted our workflow efficiency and team collaboration. It's intuitive and user-friendly, allowing us to quickly adapt and enhance productivity."
"We saved hours eliminating manual data entry."
"Automating our data entry processes has saved us hours. The software captures and organizes our financial data accurately, reducing errors and freeing up time."
"We have so much more clarity into our project data."
"The platform gives us real-time insights into project data with advanced analytics and reports, helping us make better decisions."
