Refer to: https://www.humphreys-assoc.com/evms/effective-management-reserve-ta-a-60.html#:~:text=MR%20is%20necessary%20to%20successfully,is%20not%20a%20financial%20reserve.

What exactly does "management reserve" mean as it relates to a project? Use an example of a real or hypothetical project to briefly explain how a management reserve might be used. How would you convince your sponsor on the value of establishing a management reserve?

Response should be supported by at least one reference from the text which should be cited in the body of the post.