determine how much contingency reserve is needed for a project and why.

determine how much contingency reserve is needed for a project and why.

Explain in 250 words in APA format why adding as much contingency reserve as needed to fully cover every risk to its fullest would or would not be a good idea.

Instructions:

  • Project success is typically based on whether our project came in on or under our estimated budget. If our budget includes enough money to cover any and all circumstances then we should be “successful” every time.
  • Explain in 250 words in APA format why adding as much contingency reserve as needed to fully cover every risk to its fullest would or would not be a good idea. Think of an example to determine how much contingency reserve is needed for a project and why.

Please be sure to validate your opinions and ideas with citations and references in APA format.

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