Which of the following is typically excluded from contingency calculations?

The typical exclusion from contingency calculations is extraordinary events. Contingency is generally applied to account for risks that may occur during a project, but these risks are usually within the realm of normal, manageable uncertainties. Extraordinary events, on the other hand, refer to unusual or unexpected occurrences that are not typically anticipated in project planning, such as natural disasters or significant economic shifts. These events often fall outside the normal scope of risks and may require different forms of preparation and allocation of resources, as they can dramatically impact project costs and timelines in ways that standard contingencies cannot effectively address. Therefore, in contingency management, it is critical to distinguish between usual uncertainties that can be anticipated and factored into project planning and those extraordinary events that must be handled separately.