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

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 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 does going under budget on a project indicate about your approach to budget management? Select all that apply.1 pointThat you effectively conserved funds and will likely receive larger budgets for future projectsThat you could have spent more on the project to provide extra resourcesThat you accurately estimated the total cost of ownership (TCO) That your initial estimates were inaccurate

As a project manager in the planning phase, you have created a project schedule and accounted for the total costs. What is the third major planning component you will create?1 pointA team performance chartA work breakdown structureA risk management planA feedback form