Hello, I'm just learning project management and ProjectLibre is an amazing tool! I've created Tasks (WBS), Resources with costs.
Is there any solution to add Contingency reserve to my budget plan?
May I add some "Material" resource named as "Contingency reserve" and assign it to milestones or the whole project?
(other but similar question is Management reserve)
Or I have to add a "Contingency reserve" activity (task) that has a duration nearly as long as my whole project and assign budget to this task?
thanks
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That is a superb question for someone just learning project management! There are a couple ways to do this and just brainstorming here are a few:
Create a resource contingency and give a cost
Create the resource either with 100% Max Units or a smaller number.... or when assigning to a task use 100% or less. It will create that resulting cost on the project
Now.... you can use the Task Usage spreadsheet to alter the costing/assignments on tasks or create the dummy task with duration/assignment combination to create the cost buffer you are looking to create.
Or: you can create a Project Summary task that spans the entire project. If you assign a resource to that Summary task it will give an error and an icon to the far left noting you have assigned a resource to a Summary task. It is not good practice for pure PM management but for using to create a buffer seems like a reasonable solution. It will roll up your Costs and Baseline costs correctly in the WBS for instance.....
That was brainstorming on a Sunday so perhaps better answers.
👍
1
If you would like to refer to this comment somewhere else in this project, copy and paste the following link:
Hello, I'm just learning project management and ProjectLibre is an amazing tool! I've created Tasks (WBS), Resources with costs.
Is there any solution to add Contingency reserve to my budget plan?
May I add some "Material" resource named as "Contingency reserve" and assign it to milestones or the whole project?
(other but similar question is Management reserve)
Or I have to add a "Contingency reserve" activity (task) that has a duration nearly as long as my whole project and assign budget to this task?
thanks
That is a superb question for someone just learning project management! There are a couple ways to do this and just brainstorming here are a few:
Now.... you can use the Task Usage spreadsheet to alter the costing/assignments on tasks or create the dummy task with duration/assignment combination to create the cost buffer you are looking to create.
Or: you can create a Project Summary task that spans the entire project. If you assign a resource to that Summary task it will give an error and an icon to the far left noting you have assigned a resource to a Summary task. It is not good practice for pure PM management but for using to create a buffer seems like a reasonable solution. It will roll up your Costs and Baseline costs correctly in the WBS for instance.....
That was brainstorming on a Sunday so perhaps better answers.