Analogous estimating was used earlier in a hauling project; however, through progressive elaboration, it is determined that the cost for fuel is much lower than anticipated. Which of the following…

The correct answer is D. Funding. Progressive elaboration refines estimates as more accurate information becomes available. When actual costs (fuel, in this case) turn out to be significantly lower than the analogous estimate, the project budget needs to be updated to reflect the corrected figures-this is a…

Project management concepts

Question

Analogous estimating was used earlier in a hauling project; however, through progressive elaboration, it is determined that the cost for fuel is much lower than anticipated. Which of the following types of project change should be submitted?

Options

AResources
BRequirements
CScope
DFunding

How the community answered

(25 responses)

A
16% (4)
B
8% (2)
C
4% (1)
D
72% (18)

Explanation

Progressive elaboration refines estimates as more accurate information becomes available. When actual costs (fuel, in this case) turn out to be significantly lower than the analogous estimate, the project budget needs to be updated to reflect the corrected figures-this is a Funding change. The budget (funding allocation) must be revised downward to match the new cost reality. This is not a Resources change (no personnel or materials are being adjusted), not a Requirements change (what needs to be done hasn't changed), and not a Scope change (the work itself hasn't changed). The revised cost data requires a formal funding/budget change submission.

Topics

#analogous estimating#progressive elaboration#change management#funding change

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