As project manager, you identified a number of acceptable tolerances as part of your earned value management system. During execution, some “unacceptable” variances occurred. After each “unacceptable” variance occurred, you did which one of the following first?Lessons learned but not documented are “lessons lost.” The lessons learned knowledge database will help current project members, as well as people on future projects, make better decisions. Accordingly, the reasons for the variance, the rationale supporting the corrective action, and other related information must be documented. They require updates as part of updates to organizational process assets as an output of control costs in terms of corrective actions taken and why they were selected.
Question:
Which one of the following first?
Options:
Updated the budget
Prepared a revised cost estimate
Adjusted the project plan
Documented lessons learned
Correct Answer
The Correct Answer for this Question is
Documented lessons learned
