In terms of project management budgeting, what does the term reserve mean? Should a reserve amount be included in a project proposal? Explain the pros and cons of having a reserve amount in the proposal. What are the consequences of running out of budgeted money in a project?

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In project management budgeting the term reserve refers to a portion of the budget set aside for unforeseen events or risks that may arise during the course of a project It is essentially a contingenc... View the full answer