Saturday, April 25, 2009

What is Contingency Reserve

Contingency Reserve is:
  • established to deal with unknown risks and accepted known risks.
  • may be in the form of additional time, money or resources.
  • covers risk events that are not accounted for int he project baseline duration and cost estimations.
  • determined by the potential impact of the risk but should include enough to implement any contingency plans as well as a buffer for dealing with unidentified risks.

Recommended Books on PMP

Suggested Study Materials

  • PMP-Preparation Recommended Books
  • PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
  • A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
  • The PMP Exam: How to Pass On Your First Try (Test Prep series)