What is the difference between budget reserves and management reserves?

Fill in the blank(s) with the appropriate word(s).


Answer will vary

Budget reserves are controlled by team participants and have been identified for known risks that have a low chance of occurring and are directly associated with specific work packages. Management reserves are controlled by the project manager and the project "owner" and cover items which were unforeseen usually at the total project level.

Business

You might also like to view...

The stockholders' equity section of the balance sheet includes redeemable preferred stock

Indicate whether the statement is true or false

Business

At the microlevel how do relational mental models influence the interaction between two people?

a. It influences the choice of language used b. It influences the formality of their language c. It influences whether there is a desire to communicate d. It influences the degree of nonverbal coordination

Business

The landlord ran the model in Excel and received the sensitivity report for the constraints as contained in the table. Which of the following statements is correct?

Final Shadow Constraint Allowable Allowable Cell Name Value Price R.H. Side Increase Decrease $B$12 Total Time Weeks 4.00 13.64 4 1.1 3.1E-16 $E$10 Total Cost 3000.00 0.01 3000 550 3.1E-13 $I$4 wood floors Included? 1.00 67.27 1 1.27E-16 4.6E-01 $I$5 kitchen tile Included? 1.00 25.45 1 7.63E-17 2.8E-01 $I$6 back door Included? 0.00 0.00 1 1.00E+30 1.0E+00 $I$7 garage door opener Included? 1.00 11.82 1 5.09E-16 1.0E+00 A) If there are 2 more weeks available for work, it would be possible to increase rent by $27.28 per week B) Given the scenario, it is evident that a constraint is missing. C) If the landlord installed two garage doors, rent could be increased by $23.64. D) Given the scenario, it is evident that the objective function is misstated.

Business

The overall safety stock, or inventory needed to prevent a stockout, depends on the general level of prices.

Answer the following statement true (T) or false (F)

Business