Knowee
Questions
Features
Study Tools

Question 2As a project manager, what three things should you do to control costs and reduce changes to the budget? Select all that apply.1 pointManage changes as they’re made.Ensure budget changes are within scope.Request stakeholder approval on additional costs only after they are incurredEstablish a sign-off plan and inform stakeholders of any expense changes that occur.3.Question 3

Question

Question 2As a project manager, what three things should you do to control costs and reduce changes to the budget? Select all that apply.1 pointManage changes as they’re made.Ensure budget changes are within scope.Request stakeholder approval on additional costs only after they are incurredEstablish a sign-off plan and inform stakeholders of any expense changes that occur.3.Question 3

🧐 Not the exact question you are looking for?Go ask a question

Solution

For question 2, as a project manager, to control costs and reduce changes to the budget, you should:

  1. Manage changes as they’re made: This involves monitoring the project's progress and making necessary adjustments in real-time to ensure that the project stays within the budget.

  2. Ensure budget changes are within scope: Any changes to the budget should align with the project's scope. If a proposed change exceeds the scope, it may be necessary to reassess the project's objectives or seek additional funding.

  3. Establish a sign-off plan and inform stakeholders of any expense changes that occur: This ensures transparency and keeps all parties informed about the project's financial status. It also provides an opportunity for stakeholders to provide input or voice concerns about budget changes.

This problem has been solved

Similar Questions

All of the following are the overall steps a project manager follows to manage change on a project, EXCEPT:Identify the change to clarify the scope of the change, determine who is requesting the change, and decide whether to approve, reject, or defer the change request.Implement the change and update the project schedule, budget, and scope as required as well as communicate about the change.Investigate the change to determine impacts, benefits, and the cost.Integrate the change to the schedule and then get stakeholder approval to integrate the cost of change into the budget.

What action should the project manager take first if it is determined that the project needs to go over budget?a.)Stop outsourcing to project vendorsb.)Send an email message to the project stakeholdersc.)Gain approval from the project sponsord.)Discuss the project budget with project team members

Which of the following responsibilities typically belong to the project manager? Select all that apply.1 pointDevelop the project management planSign off on the budgetControl change and monitor project qualityDirect project work and report on progress to stakeholders

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

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

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.