PMP (Project Management Professional) · Question
What is the term for funds allocated to address risks that are identified but cannot be specifically planned for?
Management reserves are for unknown-unknown risks, providing funds for unforeseen changes to project scope and cost.
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Question: What is the term for funds allocated to address risks that are identified but cannot be specifically planned for?
Answer options: ✅ Management Reserve
- Contingency Reserve
- Cost Baseline
- Estimate at Completion (EAC)
Correct answer: Management Reserve
Explanation: Management reserves are for unknown-unknown risks, providing funds for unforeseen changes to project scope and cost.
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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
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