When creating a summary budget for the project charter, you often have a high degree of uncertainty in estimates. This uncertainty is because during initiating _______________________________.
- The project’s probability of succeeding is high
- Stakeholder influence on the project is low
- Risk is high
- Expended cost-to-date is high
The correct answer is 3.
Risk is highest at the beginning of the project, when there are many unknowns. The other answers are all false. The probability of success for the project is low because there are many unknowns at this point. Stakeholder influence is very high while the project is being defined. Also, expended cost-to-date is very low, because the planning and work are just beginning.
Related Resources
PMP Mobile App
Related Courses
Guided PMP Exam Prep
PMP Exam Prep Boot Camp
PMP Renewal Program
Please support our Sponsors here :