5. Data for the 6 major cost items of a certain construction project are given in the following Table. (a) Complete the "net risk" column and hence determine the total amount of contingency to be...

Extracted text: 5. Data for the 6 major cost items of a certain construction project are given in the following Table. (a) Complete the "net risk" column and hence determine the total amount of contingency to be added to the project cost. (b) Calculate the contingency as a percentage of the total construction cost hence determine the total project cost with contingency and fill in the "expected cost" column. (c) Fill in the "final item price" column and hence determine the project tender price with contingency factored in (assume 15% profit). Net Final Expected Cost (£) Item Construction Max Маx Risk Item Cost (£) Cost (£) Risk (£) Probability (£) No. Price (£) 1 17600 19000 1400 14% 12% 980 2500 10000 9020 16500 19% 13% 19000 4 18700 20000 1300 6% 12% 12000 1000 11000 55000 60000 5000 6. Total