Quiz – Reserve Sizing Framework

Question 1 of 6

1. Question

Industry benchmarks place contingency reserves at what percentage of base budget for moderate complexity?

Eight to fifteen percent

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One to three percent

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Thirty to forty percent

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Fifty percent

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Question 2 of 6

2. Question

How are known unknowns and unknown unknowns addressed respectively?

Contingency reserves; management reserves

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Management reserves; contingency reserves

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Both through contingency reserves

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Neither requires reserves

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Question 3 of 6

3. Question

The Monte Carlo output typically uses confidence intervals of what range?

Seventy-five to eighty-five percent

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Ten to twenty percent

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Ninety-five to ninety-nine percent

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Forty to fifty percent

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Question 4 of 6

4. Question

What technique demonstrates which risk factors most influence contingency requirements?

Sensitivity analysis

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Random guessing

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Stakeholder mapping

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Charter development

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Question 5 of 6

5. Question

Match each framework parameter to its description.

Sort elements

Model likelihood of risk events
Link cost and schedule dependencies
Reflect organizational tolerance

Probability distributions

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Correlation matrices

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Risk appetite thresholds

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Question 6 of 6

6. Question

Your moderate-complexity project has quantified risks. The steering committee asks for a defensible contingency reserve as a percentage of base budget. Which range aligns with industry benchmarks?

Eight to fifteen percent

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One to two percent

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Forty to fifty percent

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Zero percent, reserves are unnecessary

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