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Contingency plans are acceptance

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suresi00
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Contingency plans are acceptance

Postby suresi00 Thu Nov 23, 2017 11:00 pm

This is the case of Project manager planning risk response. Providing additional hours as a contingency is a risk mitigation strategy; therefore, Answer C is the best answer because we are talking about extra time or reserve time. Answer A is incorrect because padding has no basis and is not quantified as a risk or other type of estimate and even padding should be discouraged by project manager. Answer B is incorrect because adding contingency is not acceptance of a risk, it is simply mitigation. Answer D is near to the correct answer, but not the best answer, although what project manager is doing is a form of mitigatiaion

Can you please explain acceptance and contingency relation
manishpn
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Re: Contingency plans are acceptance

Postby manishpn Sat Nov 25, 2017 9:05 pm

kindly post the question to get right context
Br,
Manish P
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http://www.izenbridge.com/blog/7-effect ... ification/
akitut
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Re: Contingency plans are acceptance

Postby akitut Sun Dec 17, 2017 2:58 pm

I too have the same doubt, why padding is not the correct option here?

While planning for a critical project delivery, you want to give yourself a few extra hours from budgeted time for a construction and testing phase to account for problems with unavailability of team resources for any reasons or delays in delivery. This scenario can be BEST described as ___


Padding


Risk acceptance


Reserve time or contingency


Mitigation
suresi00
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Re: Contingency plans are acceptance

Postby suresi00 Sun Dec 17, 2017 4:02 pm

viewtopic.php?f=3&t=3128

Refer this post really elaborated.

PM accepted that risk as an active risk and now he is doing a contingency reserve. As in PMP we are selecting the best of the best

Answer C is what he is doing.

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