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Management reserves are used to handle which type of risk? A. Unknown unknowns B. Known unknowns C. business risks D. pure risks

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Question added by Zakir Muhammed , Contract Administrator , DS Contracting Co.
Date Posted: 2019/01/05
Obaid ur Rehman
by Obaid ur Rehman , HR Executive , Al Bahr Al Arabi Marine Engineering Services

I would love to agree with the opinion of Mr. sohail Bashir

Sohail Bashir
by Sohail Bashir , Receptionist , syed ijala enterprises

Management reserves are used to handle

Unkown Unknowns risk with her ability to juge the risk and try to handle to reduce is with her professional ablity.

Mohammed Qaisar I PMP I MCIPS I MBA
by Mohammed Qaisar I PMP I MCIPS I MBA , Group Procurement Manager (Civil) , Al Ghurair Construction LLC

Management reserve is always used to manage unknown unknown risk in the project.

actually there are 2 types of risk Known " it is already identified & plan accordingly how to handle" & Unkown " it is not identified & maybe show up during project life time"

as per PMI methodolgy & normal practis they called for Managment reserves to face any unkown - unkown " un-identified Risk"

saleem abrar
by saleem abrar , Recruitment Coordinator (Client Management & Recruitment) , HABSONS JOBUPS LIMITED

The standard definition of management reserve is an amount of contract budget set aside for management control purposes (known unknowns) rather than designated for the accomplishment of one or more tasks.

Nasiru Ahmed bunkure
by Nasiru Ahmed bunkure , Executive Director , 08038498837

The answer is A which is Unidentifiable and uncertain,This may likely be Natural disasters,change in government war etc

Ashraf E. Mahmoud (PhD)
by Ashraf E. Mahmoud (PhD) , University Lecturer, Freelancer Consultant and Trainer for Int'l Business & Banking TF. , FreeLancer

Thanks for invitation,

I do believe the answer is (A) i.e. Unknown Unknowns.

MURAT MIDIK
by MURAT MIDIK , SAP Project Manager , Spectrum Consulting

Correct Answer is A : Unknown Unknowns.

   

Anil Shokeen
by Anil Shokeen , Business Transformation & Change Manager , Thomson Reuters

Management Reserves are used to handle "Unknown Unknowns"

Onabe John
by Onabe John , Human Resources HR Representative (HR Representative) , USAID RESOURCE TRACKING (2017 & 2018) IN COLLABORATION WITH THE MINISTRY OF HEALTH IN EBONYI STATE (

A,I think It is unknow unknows

Omar Saad Ibrahem Alhamadani
by Omar Saad Ibrahem Alhamadani , Snr. HR & Finance Officer , Sarri Zawetta Company

Thanks

It is A: unknown unknowns

 

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