What term describes the tendency to add extra time or money "just in case" during project budgeting?

The term that describes the tendency to add extra time or money "just in case" during project budgeting is padding. Padding refers to the practice of inflating estimates to accommodate uncertainties or potential risks that may arise during the project. By including additional resources in the budget, project managers aim to provide a buffer against unforeseen issues or overruns, effectively allowing for a level of flexibility in project execution.

In this context, it's important to understand how padding is often viewed in project management. While it can serve as a safety net, excessive padding can lead to misrepresentation of financial needs, impacting overall project planning and stakeholder expectations. This practice contrasts with other terms relevant to project budgeting.

Management reserve refers to funds set aside for unforeseen work that is within the project's scope but not accounted for in the original planning. Contingency reserves, on the other hand, are specific amounts allocated to cover known risks identified during the planning process. Estimating involves the process of predicting time and costs based on available data and does not necessarily imply the inclusion of excess funds or time.

Thus, padding specifically captures the notion of deliberately inflating budgetary estimates in anticipation of unplanned events, making it the appropriate term in this situation.