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Topics: PM in Academia, PMI Standards, Risk Management
Risk (A) was assessed as a critical risk in the project with probability 80% and impact days delays. if the total contingency reserves in the project 120 days. what will be the deference between tota
Anonymous
what will be the deference between total required reserves for the project and remaining reserves if risk A occurred ?
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Considering your question as below, you have not mentioned the total impact days. (I am assuming 20 days)


Risk (A) was assessed as a critical risk in the project with probability 80% and impact 20 days’ delays. if the total contingency reserves in the project 120 days.

what will be the deference between total required reserves for the project and remaining reserves if risk A occurred?

Answer:
Since Risk A is occurred, the impact will be 20 days. Remaining reserve will be = 100 days.

So, the difference between total required reserves i.e. 120 days – remaining reserves i.e. 100 days = 20 days.



Once a risk has been realized, you can ignore the probability & impact which was previously estimated and focus on the actual impact. If the actual impact was 20 days, then you'd subtract that from your schedule contingency reserve.

Kiron

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