PMP Questions ID 2089 you provide a project cost estimate for the project to the project sponsor he is unhappy with th

You provide a project cost estimate for the project to the project sponsor. He is unhappy with the estimate, because he thinks the price should be lower. He asks you to cut 15 percent off the project estimate. What should you do?

Select one

Add additional resources with low hourly rates

Inform the sponsor of the activities to be cut.

Tell all the team members to cut 15 percent from their estimates.

Start the project and constantly look for cost savings.

Select one

Use historical data

Let management create the management reserve and the activity cost estimates

Let the project manager create the activity cost estimates

Base activity estimates on the upper and lower control limits

Select one

Specifications for how estimates will be stated

How project risks will be identified

Whether to use existing funds or borrow money to finance the project

Corrective actions needed to bring the project back on track

New PMP Question & Answers with explanation