Project Management Happy Hour cover image

003-The First 5 questions to ask whenever you start a new project (part 3 of 5)

Project Management Happy Hour

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The Role of Contingencies in Project Management

This chapter discusses the significance of incorporating contingency reserves in project budgets to manage risks effectively. The speakers share insights on ethical considerations, communication strategies with sponsors, and the holistic understanding of a project’s budget beyond just finances. By emphasizing the value and return on investment of projects, they advocate for a conservative budgeting approach that includes safeguards against unforeseen challenges.

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