Question: In your group come up with two possible secondary risks and two residual risks that are associated with the risks your group has identified from
In your group come up with two possible secondary risks and two residual risks that are associated with the risks your group has identified from the previous projects. If you forgot what a secondary risk is review Async video provided in Moodle. 2. Next we will estimate the contingency funds your project will require. Since we don't have a proper WBS built you will need to come up with the activity and budget baseline in order for you to ensure your budget reserve will cover the impact you've highlighted from your previous work. Prepare a chart similar to the example below: Contingency Fund Estimate Budget Budget Project Activity Design Baseline Reserve Budget $500,000 $15,000 $515,000 Code 900,000 80,000 980,000 Test 20,000 2,000 22,000 Subtotal $1,420,000 $97,000 $1,517,000 Management reserve Total $1,420,000 $97,000 50,000 $1,567,000 3. Explain what is a management reserve and include an appropriate figure. 4. Assume that the management reserve was missed during the initial project budgeting and now you need to prepare a change management request to capture this amount. Using this example prepare a sample change request that you would present to your instructor acting as your stakeholder at your next project status meeting. 5. Now start a change management request log and input your first change management request. An example was shown in class lecture notes But any form you find will do
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