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should contingency coast be inclued in project proposal? explain

should contingency coast be inclued in project proposal? explain
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In any given project, there could be some amount of uncertainties attached to the same owing to various reasons. This contingency could be estimated based on the previous experiences or trends in the market and accordingly, a portion of cost could be allotted to the contingency element of the project, to act as a cushion to the unknown element of the costs. This shall also help in the prevention of the cost overrun as well. Hence, contingency cost, being incidental to a Project, when included in the Project Proposal, makes the Proposal more pragmatic in nature and facilitates the decision-making ability of the Project leaders based on such realistic estimations of the costs.

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