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The reserve is: An important calculation in the estimating costs process. A provision in the budget...

The reserve is:

  1. An important calculation in the estimating costs process.
  2. A provision in the budget to mitigate cost and/or risk.
  3. An amount of money set aside for project running overtime.
  4. All of the above
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Answer #1

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The correct option is 'd', all of the above. While planning a budget for any project, estimates of the costs are prepared. In this process, provision of reserve is made for any increase in costs risks. Reserve are provisioned in the budget to make future increase in costs and risks less severe, so that this difference can be made through reserve.  

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