PMP (Project Management Professional) · Question
When should 'contingency reserves' be used in a project?
Contingency reserves are funds, time, or resources allocated for known risks that may or may not occur (known-unknowns).
Start free practice for PMP (Project Management Professional)
200 questions · no signup required · 40 free questions per day
Question: When should 'contingency reserves' be used in a project?
Answer options:
- To cover unexpected scope changes requested by stakeholders
- To fund identified and accepted risks
- To pay for general management activities not directly related to the project ✅ To address known-unknowns or anticipated risks
Correct answer: To address known-unknowns or anticipated risks
Explanation: Contingency reserves are funds, time, or resources allocated for known risks that may or may not occur (known-unknowns).
Start free practice for PMP (Project Management Professional)
200 questions · no signup required · 40 free questions per day
More about PMP (Project Management Professional)
Related Questions
- What is the primary output of the 'Direct and Manage Project Work' process?
- Which project management approach emphasizes frequent communication, self-organizing teams, and adapting to ch
- Which of the following is an output of the 'Develop Project Charter' process?
- Which type of risk response strategy involves shifting the impact of a threat along with ownership to a third
- In an agile project, who is primarily responsible for prioritizing the product backlog?
- Which tool or technique is used to determine the earliest and latest possible start and finish dates for proje
More for PMP (Project Management Professional) candidates
Question explanations
- What is the primary output of the 'Direct and Manage Project Work' process?
- Which project management approach emphasizes frequent communication, self-organizing teams, and adapting to ch
- Which of the following is an output of the 'Develop Project Charter' process?
- Which type of risk response strategy involves shifting the impact of a threat along with ownership to a third
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free PMP (Project Management Professional) Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.