Project Management Professional (PMP) Exam Practice – Question1738

Your experience has taught you that inappropriate responses to cost variances can produce quality or schedule problems or unacceptable project risk. When leading a team meeting to discuss the importance of cost control, you note that cost control is concerned
with______________


A. Influencing the factors that create change to the authorized cost baseline
B. Developing an approximation of the costs of the resources needed to complete the project
C. Allocating the overall cost estimate to individual work items
D. Establishing a cost performance baseline

Correct Answer: A

Explanation:

Explanation:
The control costs process is also concerned with ensuring that requested changes have been acted upon, managing actual changes if and when they occur, ensuring cost expenditures do not exceed authorized funding, monitoring cost performance, preventing
unapproved changes from being included in the reported cost or resource use, informing stakeholders of all approved changes and their costs and bringing expected cost overruns within acceptable limits.