Scrum-Master-Forum

PMP micro learning videos Series - PMP Free Question 28: Cost Variance

List of all PMP® Resources of iZenbridge, blog, slides, video, and files. All in one place now
jyotimayank
Expert
Expert
Posts: 535
Joined: Mon Mar 09, 2015 6:01 am

PMP micro learning videos Series - PMP Free Question 28: Cost Variance

Postby jyotimayank Wed May 01, 2019 9:02 am

You have joined an ongoing project; the stakeholders are asking for alerts whenever the cost variance crosses the threshold limit. What should do you do next?

A. Facilitate meeting to develop agreement on threshold limits
B. Study Communications Management Plan
C. Study Cost Management Plan
D. Define threshold limits with the sponsor

The first thing you need to think is, does the project manager need to, define the threshold limit or find the threshold limits.

If you think of defining the limits, you may think of selecting something from option A & D
If you think of finding it, the question gives us two options.
B. Study Communications Management Plan
C. Study Cost Management Plan

The communications management plan is a component of the project management plan that describes how project communications will be planned, structured, implemented, and monitored for effectiveness.

The cost management plan is a component of the project management plan and describes how the project costs will be planned, structured, and controlled.

Watch this video for the correct answer.
Jyoti Gupta
PMP Mentor & Coach

iZenbridge Consultancy Pvt Ltd

Return to “PMP® Resources”

Who is online

Users browsing this forum: No registered users and 1 guest