easyMultiple ChoiceObjective-mapped
PK0-005 Control Costs Practice Question
A project manager notices that project costs are consistently exceeding the budget. Which process should the project manager use to address this issue?
⚠ Common exam trap
Candidates often select Plan Cost Management because they think a better plan is needed, but since the project is already in execution, the appropriate process to address the overruns is Control Costs, which involves monitoring, analyzing variances, and taking corrective actions.
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
Control Costs
The correct process is Control Costs (B) because it is the process of monitoring the status of project costs and managing changes to the cost baseline. When costs consistently exceed the budget, the project manager uses Control Costs to analyze cost variances, forecast future cost overruns, and take corrective actions to bring costs back within the approved budget. This process operates in the Monitoring and Controlling process group and directly addresses ongoing cost issues, unlike Plan Cost Management, which is a planning process that sets the framework before execution begins.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Determine Budget
Why it's wrong here
Determine Budget is a planning process that aggregates the estimated costs of individual activities to establish a cost baseline. It does not address ongoing cost overruns during execution.
- ✓
Control Costs
Why this is correct
Control Costs is the correct process because it monitors cost performance, analyzes variances, and implements corrective actions to manage budget overruns in real time.
- ✗
Plan Cost Management
Why it's wrong here
Plan Cost Management is a planning process that defines how costs will be planned, structured, and controlled. It sets the policies and procedures but does not directly address existing cost overruns.
- ✗
Estimate Costs
Why it's wrong here
Estimate Costs is a planning process that develops approximations of the monetary resources needed to complete project activities. It does not handle cost overruns during execution.
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