What term refers to the time allocated in a project schedule to account for unforeseen delays?

The term that refers to the time allocated in a project schedule to account for unforeseen delays is contingency. Contingency time is essential in project management as it allows for flexibility in the schedule, acknowledging that there may be unexpected challenges or risks that could affect the timeline. Planning for contingencies helps ensure that a project can still meet its deadlines even when issues arise, thus safeguarding the overall success of the project.

In project planning, not accounting for unforeseen delays can lead to rushed work or missed deadlines, which can ultimately result in project failure. Contingency time provides a buffer that can be used to address issues such as resource availability, weather-related challenges, or any other disruptions that may occur.

While other terms like uncertainty or extra might seem relevant at first, they do not specifically denote the planned time set aside for dealing with delays. Similarly, chance happenings are too vague and do not convey the strategic nature of contingency planning in project management.