Question: Contingency reserves are for known risks, management reserves are for unknown risks. True False

Contingency reserves are for known risks, management reserves are for unknown risks.
True
False
Contingency reserves are for known risks, management reserves are for unknown

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Project contingency should cover both known risks and unknown risks. True False

Q:

lin identify risk process, the current assessment techniques rely on careful selection of comparable situation which are genuinely similar to the current project, and filtering of data to ensure that...

Q:

Comment & Question 1 I enjoyed reading your narrative. I want to add to your point that contingencies are necessary in any project and tracked outside the project budget estimate, this way we are...

Q:

Peter is using the Critical Path Method to estimate the duration of a particular activity without taking risk into consideration if the optimistic time is 6 days, the most likely time is 9 days and...

Q:

Which of the following is a difference between management reserves and contingency reserves? Group of answer choices Management reserves are used to handle high - priority risks, while contingency...

Q:

Whats the difference between management reserves and contingency reserves? A. Management reserves are used to handle known unknowns, while contingency reserves are used to handle unknown unknowns B....

Q:

Whats the difference between management reserves and contingency reserves? A. Management reserves are used to handle low-priority risks, while contingency reserves are used to handle high-priority...

Q:

Review the project scenario and answer the 2 questions that follow. Each question is worth 3 points (6 points in total). Project Scenario The project got off to a strong start. All the necessary...

Q:

You are the project manager of the Carpet Installation Project for a new building. Your BAC is $800,000. You are now 55-percent complete with the project, though your plan called for you to be...

Q:

12. Whats the difference between management reserves and contingency reserves? Management reserves are used to handle known unknowns, while contingency reserves are used to handle unknown unknowns....

Q:

As we have learned, businesses have many different types of intellectual property, and they can be important business assets. For your business: 1. Identify three different types of intellectual...

Q:

Which of the following is NOT a characteristic of long-range planning? options: a.) More detail is presented than in a budget b.) It encompasses a period of at least five years c.) It is used to...

Q:

Hank established a Section 5 2 9 Savings Plan for his son, Saul, several years ago. It is now time to pay Saul ' s first - year college costs. The current value of the fund is $ 8 0 , 0 0 0 . If Hank...

Q:

Financial Statements and Closing Entries Last Chance Company offers legal consulting advice to prison inmates. Last Chance Company prepared the end-of-period spreadsheet that follows at June 30,...