A project manager is compiling data on purchases for a project. Which of the following BEST describes what the project manager is doing?

The correct answer is D. Expenditure reporting. Expenditure reporting is the process of gathering and documenting actual costs and purchases incurred on a project - exactly what the PM is doing by compiling purchase data. Total project costing (A) refers to estimating the full cost of a project, not tracking actuals. Earned…

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Options

ATotal project costing
BEarned value
CBurn rate
DExpenditure reporting

How the community answered

(17 responses)

B
6% (1)
C
6% (1)
D
88% (15)

Explanation

Expenditure reporting is the process of gathering and documenting actual costs and purchases incurred on a project - exactly what the PM is doing by compiling purchase data. Total project costing (A) refers to estimating the full cost of a project, not tracking actuals. Earned value (B) is a performance measurement technique comparing planned vs. actual vs. earned work. Burn rate (C) is the rate at which the project is spending its budget over time. Compiling purchase records to document what was spent is expenditure reporting.

Topics

#expenditure reporting#procurement tracking#financial reporting#project costing

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