ITPEC IP October 2024 Question 57
ITPEC IP October 2024 — Question 57 of 100
The possible replacement of a development device that may fail is an appropriate contingency reserve item. Device failure is a foreseeable type of project risk, but whether and when it will occur is uncertain. Money reserved for the response to such an identified risk can be included in the cost baseline and controlled by the project manager under the stated definition.
Answer (a)
Why not others:
- (b) project-leader effort is normal planned management work and belongs in the regular estimate
- (c) entirely new requirements outside the agreed scope require scope and contract change control, not automatic use of contingency reserve
- (d) tools already planned for adoption are known ordinary project costs
Key rule: Contingency reserve covers known-unknowns: identified, foreseeable risks whose occurrence or cost remains uncertain.
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