But it was understood the contingency fund was meant to cover cost overruns, essential in a project with a fixed timetable, not lack of private money.

BBC: Crunch continues to hit 2012 fund

Always make sure you score the cost of failure as a contingency against the projected savings and it suddenly might make sense to allow safety and reliability considerations to take a bite out of those projections.

FORBES: Curb Their Enthusiasm: CEO Optimism Can Be A Security Risk

And the consequent decision-making flaws included inadequate contingency planning, insufficient information search and biased assessments of risk, cost-benefits and moral implications.

FORBES

Labour said it welcomed any progress but action was needed to "professionalise defence procurement, ensure contingency is sufficient and that industry partners deliver to targets for time and cost".

BBC: Defence equipment budget 'may be unaffordable'

Proponents of contingency-fee lawyers say they provide valuable enforcement powers the state at no cost to taxpayers, and level the playing field against well-heeled corporations.

FORBES: Mississippi Reins In Use Of Contigency-Fee Lawyers