PMP Exam Prep Question of the Week

pmpweek01

When creating a summary budget for the project charter, you often have a high degree of uncertainty in estimates. This uncertainty is because during initiating _______________________________.

  1. The project’s probability of succeeding is high
  2. Stakeholder influence on the project is low
  3. Risk is high
  4. Expended cost-to-date is high

The correct answer is 3.

Risk is highest at the beginning of the project, when there are many unknowns. The other answers are all false. The probability of success for the project is low because there are many unknowns at this point. Stakeholder influence is very high while the project is being defined. Also, expended cost-to-date is very low, because the planning and work are just beginning.

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