Question

Mary sets a target for the project budget during the planning phase. While executing the project, she checks to make sure she is within budget. Mary determines that she needs to refine the scope of the project and change her timeline and costs for the project activities. Mary is using which tool to manage the cost of this project?

Answer 1

The correct answer is; Vendor bid analysis.

Further Explanation:

Mary is taking advantage of using the vendor bid analysis to help with her project changes. This is commonly used by project managers and planners to get an estimated cost of the project. This is used by considering the costs of several things such as;

• quotes
• bids
• proposals
• receipts

When there are numerous suppliers for a project such as a wedding it is imperative to use the vendor bid analysis. This can save time and thousands of dollars. When evaluating the products or the services from people, some things to check for are;

• previous reviews
• quality needs
• checking past references
• deadlines have been met in past or can be guaranteed

Learn more about vendor bids at brainly.com/question/10871478

#LearnwithBrainly