Prepare a paper with a minimum of 4 pages (not including APA references) explaining the development of a method for cost estimation that will include contingency reserves. Be sure to include 2 outside references in APA format.
Determine how to evaluate a companys contingency reserves.
Recommend strategies on how companies need to apply risk techniques in order to have contingency reserves.
Objectives
- Define project risk and contingency reserves
- Differentiate between schedule and cost estimation to project risk
- Evaluate how risk management affects project outcomes
- Determine how cost estimates impacts project risks
