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Contigency (6)
CONTINGENCY (6)

Definition: An unforeseeable event or circumstance, such as is prudently allowed for in budgeting.
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* All six elements should be in.


1. Estimate or calculation would be correctly guessed or made.

2. Full disclosure, as appropriate, is obtained before a provision.

3. Amount set aside will be affordable for the budgeting authority.

4. Access to, or control of, money will be firmly established.

5. Will be paid back, if unused (connect to #4, to emphasize).

6. Planning (budgeting) tool serves purpose(s) (connect to #3).
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See perfect CONTINGENCY ACCOUNT.

Quote: "If you have the wrong people, it doesn't matter whether you discover the right direction; you still won't have a great company. Great vision without great people is irrelevant". - Jim Collins.

See perfect PRUDENCE.

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