Q: Imagine you are in charge of the budget for a project. You understand the stakeholder needs and have budgeted for surprise expenses. Which of the following is a budgeting task you need to do over the course of the project?
Q: Assume you are in control of a project’s budget. You have planned for unforeseen costs and are aware of the demands of the stakeholders. Throughout the project, which of the following is a budgetary activity you need to complete?
- Procure additional funding
- Rebudget and restart
- Cancel planned expenses
- Review and reforecast
Explanation: If you are in charge of the budget for a project and have already taken into account any unexpected expenditures, one of the most important budgeting tasks that you will need to do during the duration of the project is to “Review and forecast.” It is important to guarantee that you can maintain your financial stability by regularly analyzing and revising your budget estimates depending on the progress and changes that have occurred in the project.