Any approved budget increase should be added to the project cost baseline.
What is budget?
A budget is a calculated plan, usually but not always financial, for a specific time period, usually a year or a month. A budget may incorporate expected sales volumes and revenues, resource quantities such as time, costs, and expenses, environmental impacts such as greenhouse gas emissions, and other impacts, assets, liabilities, and cash flows. Budgets are used by businesses, governments, families, and other groups to outline strategic plans of activities in measurable terms.
A cost baseline is the authorised spending plan for the project's life cycle. It includes every project activity, task, and resource that is required for a project. This includes any contingency reserve cash set aside to address potential difficulties identified in a risk study.
So, C is the right answer.
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