What is Schedule Reserve in PM?

Schedule reserve, also known as contingency reserve, is the amount of time added to a project schedule to account for unforeseen delays or risks that may arise during project execution. It provides a buffer to help ensure that the project can still meet its deadlines despite unexpected challenges. This reserve is typically calculated based on risk assessments and historical data from similar projects. Effective management of schedule reserves is crucial for maintaining project timelines and achieving successful outcomes.