PMP Exam Simulator

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Accelerate Mock ExamDisplay correct answer

PMP exam lasts 230min and has 180 questions

Use acceleration to have extra 30m in reserve on exam

Cost Management

The project manager is working on a project to develop a mobile application for an airline company. This morning he had a meeting with the sponsor to review the cost estimate. The sponsor was very unhappy with the higher cost and he requested to reduce the estimate by at least 8%. The sponsor is not too worried about the project duration estimate and he offered help with the schedule is needed. The best course of action for the project manager in this situation is:

To call an urgent meeting with the team and ask them to come up with a way to squeeze their estimate.

To inform the sponsor of the activities to be cut.

To replace a couple of expensive resources with lower-cost resources.

To continue with the project and keep looking for an opportunity for a total savings of 8%.