Reserve Analysis - Contingency Reserve and Management Reserve

RELATED ARTICLE
www.pmclounge.com/reserve-ana...
ESTIMATION TECHNIQUES
goo.gl/gijvbg
SCHEDULE MANAGEMENT
goo.gl/sKpxmP
COST MANAGEMENT
goo.gl/4ZRw4N
VLOGS - LOUNGING AROUND
goo.gl/3p7bbe
SHOP FOR PMP AT AMAZON INDIA
amzn.to/2xjhXlS
PMP STUDY PLAN
pmclounge.com/pmp-study-plan/
PMP PREPARATION RESOURCES
pmclounge.com/pmp-preparation-...
CONNECT
Website - pmclounge.com/
Facebook - / pmclounge
Twitter - / pmclounge
#ScheduleManagement #CostManagement #PMCLounge #PMP

[@pmclounge]

Check out more Schedule Management videos here goo.gl/sKpxmP Also, Cost Management videos: goo.gl/4ZRw4N and Estimation Technique videos: goo.gl/gijvbg

[@N3770SS]

This video was a lifesaver for a presentation I needed to do. Thank you.

[@pmclounge]

You're welcome. Don't forget to subscribe 👍🙂

[@sumitmitra7336]

If for a planned risk response ( A vendor defaulting on supplying project related equipment's), a contingency reserve is kept & as the project progresses , that risk doesn't happen , then what should the PM do next 1. Update the risk register & release the contingency reserve associated with that risk 2 . Retain the contingency reserve as a buffer for overall project risks 3. Inform the project sponsors & stakeholders that the procurement equipment's have been successfully purchased 4. Update the lessons learnt register stating that contingency reserve was not necessary

[@YOUEC15]

Contingency reserve...is definitely not only includes buffer time, it for sure includes funds also

[@amikorwa]

Sir when is actually project reserve analysis done i.e. during plan risk management or planning risk responses or monitor and control risk or qualitative risk analysis?

[@pmclounge]

Hi Amit, note that Reserve Analysis is actually a planning tool that can be used in planning processes like 'Estimate Activity Duration' as an example. Don't forget to subscribe for more 😊👍

[@robertmusilli5198]

great

[@pmclounge]

Thank you Robert 😊👍

[@dulsafuminoro2688]

I love this channel!

[@pmclounge]

We love you 3000 😉😊

[@Kathaisolli_storyteller]

Excellent Explanation

[@pmclounge]

Glad you liked it 👍😊

[@ameenpcc]

Suppose a PM had a contingency reserve for his project as well as the management had a management reserve for the same project. Now the project has been completed successfully (cheers!) and no risk was materialized. Therefore no reserve was utilized. Now how to use or release these reserves? Who is authorized to release, who are the recipients, what is the process? Appreciate your detailed explanation.

[@pmclounge]

The project manager has the authority to release the contingency reserve back to management. In real life, if there really is a project that went out without any hiccups, the project manager might as well ask the management to spend a part of contingency reserve on a lunch outing 😉👍