Hello all,

I have a question regarding figure 7-9 in PMBOK, which is the cost baseline including the funding requirements.

It shows the BAC and on top of it, the managment reserve.
So, what I don't understand is the wording.
Budget is cost baseline + managemnt reserve.
Does this not apply for BAC? Is BAC considering only the cost baseline?
Or is project budget = cost baseline + managemnt reserve?

Please clarify this for me, thanks!