A program manager initiates a developmental program. Significant resources and funding are required for early activities until the program cost and budget estimates are complete. What should the…

Question

Options

• AMap costs to the expected benefits realization.
• BEstablish intermediate budget based on historical information.
• CEstablish program financial framework.
• DObtain intermediate funding from the executive sponsor.

• A
  4% (2)
• B
  74% (40)
• C
  13% (7)
• D
  9% (5)

Explanation

When a program is in its early stages and full cost/budget estimates are not yet complete, the program manager should establish an intermediate budget based on historical information from similar programs. Historical data provides a credible, defensible baseline for near-term funding needs before the full picture is available. Establishing a full financial framework (C) is premature without complete estimates. Mapping costs to benefits (A) requires more complete data than is currently available. Obtaining funding from the executive sponsor (D) is an action that should follow from having an estimate - you need the intermediate budget to justify what funding to request.

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