Tailoring project cost management
Philip is the project manager in an agile project which has very short iterations. In every iteration the backlog is adjusted, and the pending tasks are moved to the next iterations. Philip is reporting to Dan regarding the project budget and constraints in the project. Dan asked him to tailor the project cost management processes according to project’s situation. Some of the considerations that Philip is considering for tailoring for project cost management are?
A. Estimating and budgeting.
B. Earned value management.
C. Governance.
D. All of the above.
Answer: Option D is correct.
Some of the considerations for tailoring project cost management are:
- Knowledge management – Organization has formal knowledge management.
- Estimating and budgeting.
- Earned value management.
- Use of agile approach.
- Governance.