Question: What should a project manager do if they identify a cost overrun in the project? a) Add more funds to the project immediately b) Submit

What should a project manager do if they identify a cost overrun in the project?

a) Add more funds to the project immediately

b) Submit a change request and implement corrective actions

c) Ignore the cost overrun and continue with the project

d) Update the project charter

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Project Management The Managerial Process Questions!

Q:

What should a project manager do if they identify a delay in the project schedule? a) Add more resources to the project immediately b) Submit a change request and implement corrective actions c)...

Q:

What should a project manager do if they identify a quality issue in the project? a) Add more resources to the project immediately b) Submit a change request and implement corrective actions c)...

Q:

What should a project manager do if they identify a communication issue within the team? a) Add more resources to the project immediately b) Submit a change request and implement corrective actions...

Q:

What should a project manager do if they identify a resource conflict within the team? a) Add more resources to the project immediately b) Submit a change request and implement corrective actions c)...

Q:

Part I: Answer each question thoroughly, read over each problem, discuss the pros and cons of each option, and select the best option including your justification and your own opinion. H & I Advanced...

Q:

Use or integrate microeconomic theories in the explanations. 1. What can be the impact of monetary policy of central banking on shaping the security of the financial system? 2. How perfect market...

Q:

During the opening rounds of contract negotiation, the other party uses a fait accompli tactic. Which of the following statements is true about fait accompli tactics? One party agrees to accept the...

Q:

During the opening rounds of contract negotiation, the other party uses a fait accompli tactic. Which of the following statements is true about fait accompli tactics? One party agrees to accept the...

Q:

What should a project manager do if they identify a stakeholder issue that cannot be resolved immediately? a) Add more resources to the project immediately b) Submit a change request and implement...

Q:

What should a project manager do if they identify a procurement risk that cannot be mitigated? a) Add more resources to the project immediately b) Submit a change request and implement corrective...

Q:

1) According to Le Chtelier's principle, if we add more reactants in a reaction, the reaction will shift to: a) The reactants side b) The reaction will keep its equilibrium c) The products side d)...

Q:

Woodard Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of tractors. The outlay required is $460,800. The NC equipment...

Q:

Although partners can generally deduct their share of losses from a partnership, what three things can limit their ability to deduct these losses on their current year's tax return?