Question

On small projects, the cost management plan may be as simple as ensuring accurate estimates are made, securing the funding, and developing cost reporting procedures to ensure that the money is spent correctly. True False

Answer 1

Answer:True

Explanation:

The first in a project is making an estimate of the project, a wrong estimate will lead to the failure of the project for this does not only determined the viability of the project but also help in providing adequate liquidity.

Availability of needed fund gives the optimism than the project will be completed and a follow up to ensure money spent adds value to the project as estimated will ensure successful completion of the project.