Can you guide me deciding best answer for below question?
PM is managing software development project where one of stakeholder needs to make change that will affect the budget. PM follows the procedure to implement the change. Which of the following must get updated to reflect the change?
A. Project Management Plan
B. Project Cost Baseline
C. Cost Change control system
D. Project performance reviews
I chose option A as BEST answer, thinking that the change approved will change Scope baseline, schedule baseline and of course cost baseline as budget is affected too. Also other subsidiary plans of Project Management plan also need to be updated, such Risk Management plan, Quality Management plan etc. As all of these are part of Project Management Plan, I chose Answer A.
But the simulator gave Answer B as correct answer.
For questions like these, I would approach this by working with the facts. We can't assume that the change will affect scope or schedule. Since we only know that the budget will be affected, the cost baseline needs to be updated. Answer B.
An example of this may be that a contractor's renewal included a rate increase. Nothing changes in terms of scope or timing. Just the budget is impacted.
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