A key project cost is quickly approaching its cost threshold limit$.$ What should the Project Manager do NOW?

Question $32$ options:

$1)$

Do nothing now $$ the threshold has not yet been reached

$2)$

Review the issue with the Project team to determine why this cost has been rising

$3)$

Activate use of contingency funding to prevent the cost from crossing the threshold limit

$4)$

Closely monitor the situation and be prepared to act if the threshold is reached