week 1

Prepare a paper with a minimum of 4 pages (not including APA references) explaining the development of a method for cost estimation that will include contingency reserves. Be sure to include 2 outside references in APA format. 

Determine how to evaluate a company’s contingency reserves.

Recommend strategies on how companies need to apply risk techniques in order to have contingency reserves.

Objectives

• Define project risk and contingency reserves
• Differentiate between schedule and cost estimation to project risk
• Evaluate how risk management affects project outcomes
• Determine how cost estimates impacts project risks