Using a House of Project Management (HoPM) approach can help in managing contingency reserves effectively by:

1. **Structured Framework**: HoPM provides a structured framework for estimating costs that incorporates contingency planning from the outset, ensuring that all potential risks are considered.
2. **Risk Assessment Techniques**: By utilizing formal risk assessment techniques, HoPM helps identify possible threats that could impact budgets, allowing for more accurate contingency reserve allocation.
3. **Enhanced Stakeholder Communication**: HoPM fosters improved communication with stakeholders about the necessity and use of contingency reserves, ensuring that everyone is aligned and understands how reserves will be managed.