Fill in the blank: Creating a _____ establishes a cost estimate for your project budget and ensures that you calculate the correct expenses for a set period of time. 1 pointcost of qualityreserve analysiscontingency budgetforecast

When budgeting a project, you should consider additional expenses such as warranties, supplies, add-ons, and upgrades. Which budgeting term refers to this concept? 1 pointBottom-up approachTotal cost of ownershipTop-down approachBaseline your project

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

What is the first step in creating a budget?*1 pointSetting financial goalsTracking all income and expensesCutting unnecessary expensesOpening a savings account

Which of the following describes the Actual budgeting method? Does not include overhead costsConsiders historical budgetsAllows for cost overagesEstimates a value for each project activity

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