Do you need customer support or technical assistance? Click here to submit a support ticket...
  • Page:
  • 1

TOPIC: Question Contintegency reserve related concept.

Contintegency reserve related concept. 5 years 2 months ago #2899

  • Mohammed Chowdhury
  • Mohammed Chowdhury's Avatar Topic Author
  • Offline
  • Fresh Boarder
  • Fresh Boarder
  • Posts: 4
  • Thank you received: 0
Lets say you find a risk in some process so you keep some contingency reserve to address that risk. If the risk does not occur and we are at a point in the project where the risk will not occur. What will you do with the contingency reserve? Do you keep the money in the reserve for other risks? Release the money. etc. Please someone explain. Thanks

Contintegency reserve related concept. 5 years 1 month ago #2913

  • Khurram Hussain
  • Khurram Hussain's Avatar
  • Visitor
  • Visitor
Dear Mohammed:

Good day and thanks for asking us.

Managing project risks is a continuous process. The project manager would always reassess project risks. Risks that have not occurred will get retired. On the other hand, new risks can emerge as well. The contingency reserves will be recalculated, and as a result, they can be reduced or increased.

Please let me know if this answers your question.

Warm regards,

Khurram Hussain, PMP, CSSBB
  • Page:
  • 1
Moderators: Yolanda MabutasKhurram HussainAhmed AminScott GillardMary Kathrine PaduaERIC BARTLETTGail FreedmanKevin NasonSteven Mudrinich, PMPMark Wuenscher, PMPJohn WolvertonTracy Shagnea, PMPJada Garrett

OSP INTERNATIONAL LLC
OSP INTERNATIONAL LLC
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®

Boost Your PMP Exam Prep in Only Six Hours! Join the Live PMP Coaching Class on Dec 02/03 for just $79. Learn More...
The PMP Exam is Changing in 2018
Simona and Cornelius
Free Interview - Listen Now

This interview with Simona Fallavollita (LinkedIn Profile) was recorded at the magnificient Project Management Institute (PMI)® Global Conference 2017 in Chicago, Illinois. We discuss the how, what, why and when of the changes that are coming to the PMP exam.

Thank you!
Cornelius Fichtner, PMP, CSM