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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