How to Calculate the Required Contingency Reserves for your Project

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The PMI RMP® certification is one of PMI's fastest growing certifications and will demonstrate your competence in all aspects of risk management, from risk strategic planning through analysis and risk monitoring.
One of the eligibility requirements of the PMI RMP® exam includes 30 contact hours of education in risk management practices, which you will obtain from attending Elite Minds PMI RMP Exam Preparation Course.
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Upon 100% completion of this course content, you will receive a certificate of completion that you can use to fill in your PMI RMP® exam application including the 30 contact hours. This course conforms to the PMI-RMP Exam Content Outline (ECO) published in April 2022 and aligns with the PMBOK 6th, and the Standard for risk management in portfolios, programs, and projects. The course is designed to cover the following exam domains:
Domain I - Risk Strategy and Planning
Domain II - Risk Identification
Domain III - Risk Analysis
Domain IV - Risk Responses
Domain V - Monitor and Close Risks
Also we will be covering the most important practices of risk management in agile and hybrid environments. This course will also include five simulation exams including 575 high quality PMI RMP® exam questions, I personally wrote them few days after I passed the PMI RMP® exam from my first trial!
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- Complete. Earn 30 contact hours, enough to apply for the PMI RMP® exam
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[@Anantkumar-hz3yu]

Thanks a lot. I got complete clarity on contingency and EMV with your examples.

[@ibrainm]

6:25 calculation about risk IV is not 3 days, is 30 days so reserve required os other value not +9 days

[@mohamednazrin3124]

Reserve required day for example 1 should be 36 Days, Am I correct sir?

[@alth1586]

if Risk 2 occured, then surely the answer is the 7,100 the total is 7,500 but only risk 2 needs to be ignored as that is now either actual or moved to budget. the other risks are unchanged so you still need 7,100 for them.

[@Zmary]

Thank you sir

[@PRADEEP-ys4rz]

THE CALCULATION IS WRONG..answer should be 36...as for risk 4...u have considered 3 instead of 30 in calculation