PMI-RMP Certification Training - Level of Uncertainty

The video tutorial discusses the concept of uncertainty in project management, categorizing it into known knowns, known unknowns, and unknown unknowns. Known knowns are predictable issues, while known unknowns are identified risks with uncertain impacts. Unknown unknowns are unforeseen risks requiring management reserves. The tutorial emphasizes the importance of continuous risk identification to convert unknown unknowns into known unknowns, allowing better control and management. It also explains the use of contingency and management reserves to handle these risks effectively.

How do management reserves relate to unknown unknowns?

Discuss the importance of continuous risk identification throughout a project.