TOPIC: Time reserve & Schedule baseline

Hi All

if I choose to schedule my project using the Critical Path Method , and I choose the accept strategy as response for one risk, this response have created time which will be added to the risk reserve, should I add this time before the end date of the project ?

Regards
Housam krema

Hi Housam,
the question is not clear to me , would you please share an example or illustrate more?

Hi Ahmed,

Should I add the time reserve to the project schedule, so the Schedule baseline will = Project Schedule+Time reserve

Regards
Housam krema

Hello Housam,

Typically when risks are accepted the acceptance is either passive or active. When you passively accept a risk the only action necessary is to document the strategy associated with that risk and if the risk occurs the project team should address it with a fallback plan. if you actively accept a risk funds should be established in the contingency reserve including the amount of time money or resources to address the risk, if it becomes an issue. This may be added to the schedule baseline to account for the time needed to address the issue.

Hi Jonathan,

Thanks for your reply, In regards to the contingency reserve and fallback plans , what I knew is that both of them act like Plan A & Plan B for Active acceptance response strategy, however for passive acceptance response strategy, there is no predefined set of actions , instead actions will be developed as workaround after the risk occurs, which is suitable for low priority risks that has very low likelihood & Impact, and in PMBoK P-348 fallback defined as "plans for use as reaction to a risk that has occurred and the primary response proves to be inadequate", in regards in how we deal with the time reserve you have triggered another question

Should we submit a change request in case that an identified risk with "active acceptance response strategy" occurs ?so we can adjust the schedule baseline!! , or the time reserve is already part of the schedule baseline just like the cost baseline , and there is no need to submit a change request ??

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