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First of all let me answer what is a reserve. A reserve is either set aside time or money for a "rainy day". There are two main types of reserve contingency and management reserve. You get your contingency reserve from analysing what can go wrong and if it dose how much time or money you may need. As a project manager you have authority on those funds.
Management reserve is money set a side by senior management for the project in case something goes wrong that the project simply could not make plans for e.g. natural disasters. The project manager dose not have authority over these funds and have to request it from management.
Differences
Contingency reserve .............................. Management Reserve
===============............................. ===============
for risk you can plan for .........................For Events no one can predict
Controlled by project Manager.............. Controller by Senior management
These topic and more are covered in PMP and CAPM training
What else can I help you with?
Different parts of a project plan?
Project Planning involves 4 important phases. They are:1. Planning the Project Scope2. Planning the Project Resources3. Planning the Project Schedule4. Planning Quality & Risk ManagementThe Project Management Plan or the Project Plan has many parts. They are:The Scope Management PlanRequirements Management PlanSchedule Management PlanQuality Management PlanRisk Management PlanHuman Resource Management PlanCost Management PlanProcess Improvement Planetc
Do you like project management institute?
Yes. The PMI (Project Management Institute) is the premier institute that determines Project Management processes and methodologies.
What is Project Management Institute's population?
Project Management Institute's population is 51.
Importance cost management in a project?
Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.
Difference between Research and Development Project Management and conventional Project Management?
R&D Project Management is characterized by using (almost always) an iterative approach. Conventional Project Management is not restricted to any approach/methodology.
What is Schedule Reserve in PM?
Schedule reserve, also known as contingency reserve, is the amount of time added to a project schedule to account for unforeseen delays or risks that may arise during project execution. It provides a buffer to help ensure that the project can still meet its deadlines despite unexpected challenges. This reserve is typically calculated based on risk assessments and historical data from similar projects. Effective management of schedule reserves is crucial for maintaining project timelines and achieving successful outcomes.
What is the total number of PMP?
Project Cost Management Project Quality Management Project Human Resource Management Project Communications Management Project Risk Management Project Procurement Management Project Stakeholder Management
How would you sell your client on the wisdom of using management reserve in project management?
Most people would agree with the idea that the unexpected is bound to interfere at some point. A client's full participation at every step helps them to have a better understanding the implications that unforeseen changes have on the project. Instead of "selling" clients on the idea of a management reserve, it should be presented as standard operating procedure. The client can be made to understand the reserve is not an option, and will be included in the budget. Inform them that senior management must approve the use of reserves and PMs don't have authority to consume it. If the client is seeking our expertise, they'll need to rely on our expertise.
Who is the author of A Guide to the Project Management Body of Knowledge?
A Guide to the Project Management Body of Knowledge is a book by Project Management Institute. The book talks about knowledge in the project management profession.
Do you have Bank management as a project?
how to implement project in banking management?
Where can someone go to find out about project management?
There are many ways a person may learn more about project management. For instance, some college business courses teach about project management. Additionally, the Project Management Institute website specifically about project management.
Where could one find courses in project management in the US?
There are many places in the U.S. where you can learn project management, but the right option depends on your goal: Do you want academic knowledge or career-ready certification? Most professionals today prefer certification-aligned training because employers look for globally recognized credentials rather than only classroom theory. Learning In Universities (Academic Route) Many U.S. universities offer project management programs (certificate, diploma, or master’s specialization). These are good if you want a long-term academic pathway, but they are usually: Time-intensive (6 months – 2 years) Expensive Not always aligned with PMI certification exams So graduates often still need separate preparation for CAPM®, PMP® or Agile certifications. Corporate Training Institutes Several training providers including us (CoachPro Consulting) conduct bootcamps in major cities like New York, Dallas, Austin, Chicago, and San Francisco as well as virtual live training workshops. These are typically short and fast-paced but mostly covering project management processes, tools, techniques, practical insights, real-world scenarios helping students get learn and succeed in the real PMI exam on their first attempt. Many learners have appreciated us after the class because: 1-on-1 post-training support & guidance Application support Real exam strategy Access to our LMS platform where you get access to Mock tests, Flash Cards, Study Materials, Tutorial Videos, Score Tracking, Review Questions, etc. Online Instructor-Led Mentorship (Most Preferred Today) This is where working professionals in the U.S. are increasingly moving — live, mentor-guided online programs aligned to real certification outcomes. At CoachPro Consulting, we specifically designed our programs for global professionals (including the U.S.) who need: Structured learning path Real-world project examples Application guidance Exam strategy & mock reviews Continuous mentorship until certification We don’t just teach concepts, we coach professionals until you succeed.
Computerized project Management techniques?
"Computerized project Management techniques?"
Who would be responsible for creating a project management plan?
The Project Manager is responsible for creating the Project Management Plan for the project.
Different parts of a project plan?
Project Planning involves 4 important phases. They are:1. Planning the Project Scope2. Planning the Project Resources3. Planning the Project Schedule4. Planning Quality & Risk ManagementThe Project Management Plan or the Project Plan has many parts. They are:The Scope Management PlanRequirements Management PlanSchedule Management PlanQuality Management PlanRisk Management PlanHuman Resource Management PlanCost Management PlanProcess Improvement Planetc
Do you like project management institute?
Yes. The PMI (Project Management Institute) is the premier institute that determines Project Management processes and methodologies.
What are reserves fro tiger?
Project Tiger, Manas Tiger Reserve, and the NPR; a huge tiger reserve.
