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Question:
Grant hesitantly notifies his project sponsor of a budget overage due to a vendor error. A critical piece of equipment would cost $30,000 more than estimated. Fortunately, the sponsor understood the situation and approved the use of funds set aside for unexpected events. Grant will pull the funds to cover the equipment from _________.
A
Management reserves.
explanation
Funds set aside for unexpected situations and are used at the discretion of management are management reserves. They are parts of the overall project budget, not parts of the cost baseline.
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