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Welcome
Themes
Introduction to forest-based bioeconomy
Wood products
Natural fibre products
Man-made bio-based fibre products
Bio-based nanomaterials
Recycled fibre
Pulping and biorefining
Energy and biofuels
Biomass chemistry and physiology
Material testing and product properties
Forests and other biomass resources
Supply chain
Process control and automation
Asset management
Business and investment planning
Environmental control and management
Learning paths
Learning path A
Learning path B
Other resources
Papermaking Science and Technology books
Podcasts
Webinars
Tools
How to use
Dictionary
Glossary
Contact
Contact us
Contributors
Profile
Search
Search
X
Search
Generic filters
Exact matches only
Generic filters
Exact matches only
Contingency reservation estimation
After reading this article you will..
Understand that the contingency is a method for risk management, and contains the “known unknows”, i.e. non-assessed cost items
Learn that in ideal projects, contingencies are never used
Learn that the contingencies are reduced in project development phases when amount of knowledge increases (less estimates on concept, more facts)
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Authors & references
Author:
Tom Lind
Videos
Exercises
This page has been updated 25.02.2025
Content
Business and investment planning
Investment project fundamentals
Basics of project management
Project execution models
Project lifecycle
Project stakeholders
Investment cost management
Time management
Risk management fundamentals
Contract management fundamentals in projects
Business and investment planning in the forest industry
Main characteristics of the global forest industry
Economy of integration
Economy of scale
Economy of scale of a pulp mill
Economy of scale of a paper and board mill
Future development of economy of scale
Basics and best practices in strategic planning
Corporate Governance and Governance Models
Common tools in strategic planning
ERM as part of strategy process
Mitigating uncertainty with scenarios
Scenario process key elements
Scenario planning benefits and pitfalls
Investments as part of the company strategy
Capital investment projects
M&As, divestments and spin offs
Due Diligence process
Basics of financial analysis
Income statement, balance sheet and cash flow analysis
Business performance and valuation
Financial valuation of a company
Business planning in growth companies
Good practices for finding finance for your growth business
Value creation after the deal is done
Mutual learnings from cooperation between large companies and start-ups
Leadership challenges in growth businesses
Innovative start-up companies in the Finnish forest industry
Conceptual phase
CS – Mill concept
CS – Markets and competitiveness
CS – Market analysis
CS – Competitiveness
CS – Economic and financial aspects
Preliminary investment cost
Profitability calculation methods
Basic profitability calculation parameters
Preliminary cost and income estimation in profitability calculation
Project financing
CS – Project organisation and governance
CS – Operating responsibility aspects
CS – Risk Management
CS – Time scheduling
CS – Project communication
Project confidentiality
Pre-feasibility phase
PFS – Mill Concept
PFS – Markets and competitiveness
PFS – Market analysis
PFS – Competitiveness
PFS – Economic and financial aspects
PFS – Investment cost estimate preparation
PFS – Profitability calculation development and accuracy
PFS – Resource planning
PFS – Operating responsibility aspects
PFS – Risk Management
Contingency reservation estimation
Mill site safety and security
Cyber security in investment projects
Insurance Arrangements in Greenfield and Brownfield Investment Projects
PFS – Time scheduling
PFS – Project communication
Stakeholder relations and communication
Strategic communication planning
Feasibility phase
FS – Mill Concept
FS – Markets and competitiveness
FS – Economic and financial aspects
Investment cost estimate finalisation
Profitability calculation finalisation
FS – Implementation capabilities
FS – Operating responsibility aspects
FS – Communication
Implementation readiness of a project
Technical concept
Project rules
Time schedule and progress monitoring
Construction and Erection All Risk Insurances
Organisational learning in investment projects
Typical project pitfalls and success factors
Investment case examples
Post-completion auditing of investments
Key criteria in designing a PCA process
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