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TOPIC: Contingency Reserves Vs Management Reserve

Contingency Reserves Vs Management Reserve 1 year 6 months ago #5636

  • Mamadou Issa
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What is the difference between Contingency Reserves and amount of Management Reserve

Thanks

Contingency Reserves Vs Management Reserve 1 year 6 months ago #5638

  • Sarah Burden
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Hi Mamadou Issa,

The contingency reserve is controlled by the Project Manager and is part of the budget for the project. The contingency is cover known risks.

the management reserve is held by the management committee and is used for unknown risks. It is not included in the budget for the project. It is held by the management committee and the project manager has to apply to the committee for the funds to be allocated to the project.

Hope that helps.

Sarah
The following user(s) said Thank You: Mamadou Issa

Contingency Reserves Vs Management Reserve 1 year 6 months ago #5641

  • Mamadou Issa
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very clear.. Thanks you Sarah
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