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The biomedical model embraces reductionism,which is the view that:
Cost Variance
The difference between the budgeted or baseline amount of expense and the actual amount spent.
Contingency Reserves
Funds or resources set aside to cover unexpected costs or risks in a project or budget.
Management Reserves
Funds set aside in a project budget by management for unforeseen work or risks, not part of the baseline budget but available for use as needed.
Cost Variance
The difference between the budgeted cost of work performed and the actual cost of work performed on a project.
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