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PK0-003 · Question #490

Which of the following is created as part of the closing phase?

The correct answer is B. Cost review. A cost review is typically performed during the project closing phase to reconcile all financial aspects, ensure all invoices are paid, and the project budget is finalized.

Project life cycle phases

Question

Which of the following is created as part of the closing phase?

Options

  • AQuality baseline
  • BCost review
  • CActivity estimation
  • DFeasibility analysis

How the community answered

(42 responses)
  • A
    5% (2)
  • B
    90% (38)
  • C
    2% (1)
  • D
    2% (1)

Why each option

A cost review is typically performed during the project closing phase to reconcile all financial aspects, ensure all invoices are paid, and the project budget is finalized.

AQuality baseline

A quality baseline is established during the planning phase to define the quality standards and metrics for the project.

BCost reviewCorrect

The closing phase of a project involves administrative and contractual closure activities. A cost review is a crucial part of administrative closure, ensuring that all financial accounts are settled, expenditures are reconciled against the budget, and the project's financial performance is accurately documented before final closure.

CActivity estimation

Activity estimation is conducted during the planning phase to determine the duration and resources required for project activities.

DFeasibility analysis

Feasibility analysis is typically performed during the project initiation phase or even prior to it, to assess the viability of the project.

Concept tested: Project closing phase activities

Topics

#closing phase#cost review#project closure

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