Cost Management Question: Download Cost Management PDF

The seller tells you that your activities have resulted in an increase in their costs. You should:

A. Recommend a change to the project costs
B. Have a meeting with management to find out what to do
C. Ask the seller for supporting information
D. Deny any wrongdoing

C. Ask the seller for supporting information

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The cost contingency reserve should be: A. Hidden to prevent management from disallowing the reserve B. Added to each activity to provide the customer with a shorter critical path C. Maintained by management to cover cost overruns D. Added to the base costs of the project to account for risks	Your cost forecast shows that you will have a cost overrun at the end of the project. Which of the following should you do? A. Eliminate risks in estimates and reestimate B. Meet with the sponsor to find out what work can be done sooner C. Cut quality D. Decrease scope