Contingency factors

The estimated values for the various contributions are given in Table 9-53, resulting in an estimate of 4,280,000 for the total fixed-capital investment, including a contingency factor. 

Kazanjian, R. K. Drazin, R. 1987. Implementing internal diversification contingency factors for organization design choices. Academy of Management Review, 12(2) 342-354. 

Travel career A dynamic concept arguing that tourists have identifiable stages in their holiday taking. The state of one s travel career, like a career at work, is influenced by previous travel experiences and life-stage or contingency factors. A pattern of travel motives should be linked to or characterise the state of one s travel career. (Empirical studies are useful to explore these links.) Travel careers can be operationalised by a conjoint consideration of travel experience, age and life cycle. 

A contingency factor is usually included in an estimate of capital investment to compensate for unpredictable events, such as storms, floods, strikes, price... 

Unforeseen events, such as strikes, storms, floods, price variations, and other contingencies, may have an effect on the costs for a manufacturing operation. When the chemical engineer predicts total costs, it is advisable to take these factors into account This can be accomplished by including a contingency factor equivalent to 1 to 5 percent of the total product cost. 

If desired, a contingency factor can be included by increasing the total product cost by... 

Because the factor methods for calculating the depreciable capital cost are rapid methods and not based on a detailed design, many small items of equipment are knowingly omitted. Also, there are uncertainties in design and economic procedures, and bad weather, strikes, and other unforeseen events may cause delays. To correct for uncertainties and unforeseen events requires using a contingency factor or safety factor. 

With his article, Guyton characterized chemical affinity as a broad frontier of theoretical inquiry that would ultimately absorb pneumatic studies. His discussion identified three important problems in the current investigations of affinity the determination of saturation capacities, the effect of contingent factors on chemical reactions, and reciprocal affinity. These problems took on urgency in the efforts to classify and control the operations of salts. Guyton s systematic reflection on affinity, particularly his efforts to discern disturbing physical forces and his notion of effective quantities, provided a starting point for Berthollet s chemical statics. 

When analysing several new processes, typically not all processes are at the same level of development. This makes con >anson difficult. In principle different contingencies for capital investment should be used. The problem is that reliable contingency factors are not usually available. One suggestion made at the workshop was to require considerable reduction in cost (for example, half the cost compared to existing alternatives) without any contingencies for new systems. 

A late 1977 cost basis is used. The plant facilities investment represents the capital cost of the plant as erected and awaiting start-up. Constant-dollar economics are used. Plant construction periods range from 2 to 4 years, depending on plant complexity. Site-specific investments (e.g., townsites) and across-the-board contingency factors are excluded from the analysis. ... 

Finally, contingency factors are considered to compensate for project risks and other potential project issues as well as to accommodate personnel learning curves. Contingency factors may be applied at the phase or activity level of the workpltm/budget, edthough accuracy may be improved if applied at the detail task level. 

Because the budget is a projection of project costs, it is based on many assumptions. The compQed budget should be accompanied by a statement of the assumptions made regarding schedules, resource availability, overhead, contingency factors, nonpersonnel costs, and the Uke. 

An operating cost break down at current prices in Spain is depicted in Table II in US dollars at the prevalent exchange rate, 170 PTA per USD. A 10% contingency factor has been allowed. As a worst case scenario, a residue disposal cost has been included, assuming that the gypsum was not sold. 

The estimated total investment cost is approximately 19.0 Million USD, based on good practice engineering standards with a +25% accuracy factor. This includes the co-generation plant investment. The hi contingency factor makes this study fairly conservative. 

The radioimmunoassay system itself, in which can be distinguished permanent factors the parameters of antibody binding (affinity, specificity), the relative affinity of the competitors for the antibody sites, and the experimental conditions and separation of bound and free, and contingent factors related to individual assays, material present in the biological fluids or introduced or concentrated during the purification procedures. 

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