During Schedule and Cost Control,when Comparing Performance to the Schedule

question 35

Multiple Choice

During schedule and cost control,when comparing performance to the schedule and cost baselines,if schedule or budget has changed these changes should be:​ 

• A) formally recommended and managed through the integrated change control system 
• B) added to the original baselines, and baseline changes made to reflect the new status 
• C) reviewed with the customer or sponsor to obtain approval for additional funding 
• D) implemented immediately and reported as variances from baseline in the next status report

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Definitions:

Cash Payment

A financial transaction involving the outflow of cash from one party to another as a form of payment.

Internal Control

Methods and protocols established by an organization to guarantee the reliability of financial and accounting data, foster responsibility, and avert deceit.

Record-Keeping Function

The process of maintaining a record of business transactions and financial activities for future reference.

Account System

Refers to a structured process of recording, analyzing, and managing financial transactions of a business or individual.