Contingency resource curves (P3e)
In the Open Standard
Neil BraniganMember for 19 years 10 months
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Dear fellow planners,
I’m curious as to how to select the best resource profile
for a contingency level of effort within P3e.
There is a default profile called ’Contingency’.
However, some Project managers wish to forecast all their contingenct at the very end i.e. (last 20% of the level of effort duration).
The obvious reason is that the PMs wish to use this conting. budget once all other project budgets have dried up i.e. at the later stages of the project.
Any guidance on the best profile to select and why??
Cheers
Neil.
I’m curious as to how to select the best resource profile
for a contingency level of effort within P3e.
There is a default profile called ’Contingency’.
However, some Project managers wish to forecast all their contingenct at the very end i.e. (last 20% of the level of effort duration).
The obvious reason is that the PMs wish to use this conting. budget once all other project budgets have dried up i.e. at the later stages of the project.
Any guidance on the best profile to select and why??
Cheers
Neil.
4 replies
Oldest first- 0A D ·There are two types of contingencies for:
Known Unknowns - Risk events that u were aware of but cant be predicted. (Mostly environmental risks)
UNKNOWN UNKNOWNS - Which we never thought of
CONTINGENCY RESERVE for the Known Unknows are in-built into the activties or work packages, while MANAGEMENT RESERVES are planned for unknown unknowns.
Management reserves cannot be used by the project Manager.
Cheers,
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