Unforeseen Obsolescence is the loss in value on an asset that could not be foreseen when the asset was acquired. The Unforeseen Obsolescence is a short of the amount required to cover its actual obsolescence from the amount included in consumption of fixed capital for an asset’s normally expected obsolescence. (Also, called as the Abnormal Obsolescence, Opposite of the Foreseen Obsolescence)
Related Definitions in the Project: The Project Management; Project Contract
