What budgeting challenge arises when changes or growth cause additional work the project manager hadn’t planned for?1 pointBudget pre-allocationInaccurately accounting for total costsInaccurate budget baselineScope creep

Question 3As a project manager, the project sponsor gives you cost estimates with a set amount of money to spend. What challenge for effective budgeting does this represent?1 pointInsufficient cash flowLack of historical dataPre-allocated budgetScope creep

As a project manager setting a budget, you factor in unexpected costs that may arise during the project. What budgeting strategy does this refer to?1 pointSetting a baselineBottom-up approachLeveraging expertsAdding a buffer and reserves

As a project manager, what project component should you focus on to minimize the likelihood of incurring changes to the project budget or extensions in the project timeline?1 pointProposalsRetrospectivesTeam membersScope

As a project manager, you think about where your budget might exceed estimates and how the project might get off track. Which project planning component are you implementing? 1 pointProject budget planProject scheduleRisk management planRisk reviews

Fill in the blank: A project manager needs to alter their budget after making changes to the project schedule and costs. This is necessary in order to _____.1 pointre-baseline the budget to track project progress of costsre-baseline the budget to track project progress of tasksbaseline the budget to track project progress of reservesbaseline the budget to track project progress of costs