7.3 Determine Budget | PMBOK Video Course

[@andreanberry4273]

Hi David I love these videos. They are really helping me study for the test. I have a quick question, is there a rule of thumb regarding how much to have in reserve and contingency funds?

[@kennguyen1066]

This really depends on the nature of the project, organization, and risk assessment -- but a good estimates are: 5-10% for contingency reserve, and 10-15% for management reserve. Again, you have to work with your organization and SMEs to get a more accurate amount.