Often, the Sum of the Initial Estimated Costs Is Greater

question 45

Multiple Choice

Often, the sum of the initial estimated costs is greater than the amount of funds budgeted by the sponsor.What should be done to arrive at an acceptable budget amount?

• A) Cut the cost of the highest priced activity in half until the budget is reached.
• B) Trade experienced and efficient resources for less experienced and less efficient resources.
• C) Revise the budget expecting that several iterations may need to be made to reduce the costs.
• D) Extend the scope of the project.