Which of the following are optional when calculating the budget?
1)Costs of Project Management activities
2)Risk Budget
3)Change Budget
4)Cost Tolerances
A)1, 2
B)1, 4
C)2, 3
D)3, 4

Question

Quizplus · Accepted Answer

A Risk Budget and a Change Budget are both optional.
Key takeaway: Risk Budgets and Change Budgets exist when it is anticipated that there will be requests for change/off-specifications and/or risks that fall outside of the specified tolerances for risk. It is important not to fund either of these actions by utilising surplus tolerances or with a 'suck it and see' mentality. The procedures are there precisely to prevent that sort of scope creep.

Which of the Following Are Optional When Calculating the Budget