PKs ag Prete Eero ‘Saved by Contingency Funds Asks you identity are called Anown unknowns because vou ‘now they ay ocur but you dont know whee hey wil, Far example, bad weather is ivendutng the wine, bat youn now when the snowstorms are going tit Uno tunately, there reals unknown unknowns=rsks you don't ‘erennow you should wory about, For example it you don't buy into entoterestralinteligence, you wont anticipate the ‘esource ss when peopleeaing aliens ative, ‘Organizations often set aside contingency funds to spend if known sks oct Oe problem i figuring out how much ‘money youneed. People ttenuse a percentage ot the project's budget ta chase te levetof contingency funds. Youcanstart ith 5 pent. Ten as yaugain experience with roe, ou «canusethe performance of past projects ost a percentage I the prec uses any intemal sources, you can abo set aside time tat you can allcate to deal with any unknown unknowns ta aise, Projet manages usually have the authority ta spend some amount af the contingency fund without aking permission. However, when you exced that limi, you need to goto rmanagerent of oer stakeholders with han hand to ask for mare money Management reserves another bucket of maney that stake- holders st aside to deal wit risks they dont expec. W's usually afte percentage ofthe project's budget. Besides ‘sing it to deal wth risks, management can apply reserve money atitsdiscretion, toa project to over changerequests. ‘CHAPTER 2: PLANNING A PROJECT www.it-ebooks info awww.it-ebooks infoProject Planning: More Than Creating a Schedule CHAPTER 3: Getting to Know Microsoft Project CHAPTER 4: Creating a Simple Project CHAPTER 5: Setting Up a Project File CHAPTER 6: Identifying the Work to Be Done CHAPTER 7: Building a Schedule CHAPTER 8: Building a Team for Your Project CHAPTER 9: Assigning Resources to Tasks CHAPTER 10: Setting up a Project Budget CHAPTER 11: Reviewing and Fine-Tuning Your Plan CHAPTER 12: Saving the Project Plan www.it-ebooks info