Cost Management question
Q: You have just completed the initiating process of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?
A. The project budget can be found in the in the project t charter, which just been completed.
B. The project budget and baseline will not be finalized and accepted until the planning processes are completed.
C. The project management plan will not contain the project budget and baseline; this is a small project
D. It is impossible to complete an estimate before the project management plan is created..
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I thought the answer could be between B and D. Ultimately the answer is B.. But Rita's explanation on why it's not D isn't too clear. I think it may be a typo:
"It is NOT possible to create a budget before the PM plan. However, it is not wise to do so, as the budget will not be accurate. The project budget and baseline are not finalized and accepted until the planning processes are completed"
If it is NOT possible. Why does the next sentence say "however"? Should it actually state " while IT IS Possible"?


admin
Fri, 04/05/2013 - 02:10
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Just remember for the exam
Just remember for the exam the right answer, which is the fact that budget can be finalized only after PM Plan is completed and baselined.