Contingency reserves could be schedule reserves (days) or cost reserves ($) or both ? Saving Changes...
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Adela TataruSenior Project Manager| Self EmployedVancouver, British Columbia, Canada
I guess it can be both as long as it is clear for everyone what the measure is. In the end days are actually $ so if you manage it by days or money it does not change much.
Make sure though that all stakeholders agree on the unit of measure, otherwise it will become a nightmare to manage. Saving Changes...
Normally you must have both. PMs can spend money to recover some schedule, but this does not completely suppress the variability of the completion date. Saving Changes...
Both - terminology-wise, we tend to use the term buffer when speaking about time as opposed to reserves which are more commonly related to cost but the intent is the same. They are there to protect the specified constraint from the impact of identified, realized risks.
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