Primary difference between contingency reserve

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Reference no: EM132094806

Read the following article on contingency reserves https://www.pmi.org/learning/library/model-risk-contingency-reserve-9310

and answer the following questions:

What is the primary difference between contingency reserve and management reserve?

Why are contingency reserves used in project management?

How are contingency reserves developed?

When is it acceptable to use contingency reserves on a project?

What communication is expected in progress reporting, with respect to contingency reserves?

Explain some of the limitations within the contingency reserve model.

Reference no: EM132094806

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