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Contingency and Management Reserves

  • Ivan Damnjanovic
  • Kenneth Reinschmidt
Chapter
Part of the Risk, Systems and Decisions book series (RSD)

Abstract

In this chapter we introduce the concept of contingency and management reserves. We provide the formal definition and a discussion on its use and misuse. We further provide the mathematical formulation of the contingency and the contingency factor, the consideration of contingency in program management, and the effect of correlation.

Keywords

Contingency Program management Correlation Probability distribution 

References

  1. EIA Standard (1998) Earned value management systems, EIA-748. Electronic Industries Alliance, ArlingtonGoogle Scholar
  2. Merriam-Webster, Inc (1983) Webster’s ninth new collegiate dictionary. Merriam-WebsterGoogle Scholar
  3. Project Management Institute PMI (2008) A guide to the project management body of knowledge, 4th edn. Project Management Institute, Newtown SquareGoogle Scholar
  4. Taylor J (1997) Introduction to error analysis, the study of uncertainties in physical measurements. University Science Books, Mill ValleyGoogle Scholar

Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Ivan Damnjanovic
    • 1
  • Kenneth Reinschmidt
    • 2
  1. 1.Texas A&M UniversityCollege StationUSA
  2. 2.College StationUSA

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