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Using the Contingency reserve

4 replies [Last post]
Tue, 2008-10-07 15:38
Sam Onumah
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Joined: 4 May 2008
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Groups: Accreditation Editors, Petro-Chem / Oil & Gas
After spreading the manhours among the various work packages I was still left with some reserve manhours which I kept in the contingency reserve.

I linked the predecessor of the reserve to the start milestone of the one of the work packages and the successor to the finish milestone of the project.

In this case when the work packages are being progressed the is also being progressed.

I am wondering if this is the right way to do it.
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Replies

Wed, 2008-10-08 11:32
#1
Sam Onumah
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Groups: Accreditation Editors, Petro-Chem / Oil & Gas
Mike,
Thanks. That is very helpful.
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Wed, 2008-10-08 11:03
#2
Mike Testro
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Joined: 14 Dec 2005
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Groups: Building Information Modelling, Content Moderators, GPCCAR Editors
Hi Sam

It is just an activity bar that is set up for the same duration as the available float.

It is linked between the programmed end date and the contract completion date.

There has been a recent thread on this subject which will give you more details.

Best regards

Mike Testro
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Wed, 2008-10-08 09:57
#3
Sam Onumah
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Joined: 4 May 2008
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Groups: Accreditation Editors, Petro-Chem / Oil & Gas
Hi Mike

This reserve has both labor hours and material quantity. It also has some float.
Do you have any document which shows how to build the time contingency risk bar?

Thanks.
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Wed, 2008-10-08 04:37
#4
Mike Testro
User offline. Last seen 4 weeks 5 days ago. Offline
Joined: 14 Dec 2005
Posts: 4418
Groups: Building Information Modelling, Content Moderators, GPCCAR Editors
Hi Sam

Do you have a time contingency as well as a resource contingency?

In other words is there any spare float in the work package programmes.

Can this float be collected to the end of the work?

If so create a time contingency risk bar to take up the foat and load your surplus hours into the time risk bar.

Only adjust the risk bar for contractor delays and it will be the last activity to get progressed.

I hope this helps.

Best regards

Mike Testro
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