Question

During execution of a project, an identified risk event occurs thatresults in additional cost and time? The project had provisions forcontingency and management reserves. How should these beaccounted for?

A. Contingency reserves
B. Residual risks
C. Management reserves
D. Secondary risks

Answer 1

Answer:

A. Contingency reserves

Explanation:

Whereas Management reserves refer to  an appropriation to account for unidentified risk, contingency reserves refers to appropriation to account for identified risk.