Want to protect your project from risks? Let’s dive into the concept of Reserve!
A Reserve is a provision in the project management plan to mitigate cost and/or schedule risk. It often includes specific modifiers like management reserve or contingency reserve.
Why do you need it? To handle unexpected events without derailing your project. It ensures you’re prepared for uncertainties.
First, identify potential risks. Next, allocate reserves for cost and schedule. Use modifiers for specific risk types. Regularly review and adjust as needed.
Use Reserves to safeguard your project. Be proactive, manage risks, and keep your project on track!
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