Question

As a project manager, you review your budget and notice one vendor is costing more than anticipated. You shift funds and recalibrate the budget to offset this increased vendor cost. What is the budgeting term for this task?
A. Contingency budgeting
B. Reserve analysis
C. Setting the baseline
D. Reforecasting

Answer 1

When you engage in this action as a project manager, this is known as reforecasting.

What is reforecasting?

• It refers to changing the amounts ascribed to budgetary items.
• It is usually done due to a change in projected spending or income.

The vendor in question is costing more than anticipated which means that there is an increase in spending. By shifting funds and recalibrating the budget, you are reforecasting.

In conclusion, option D is correct.

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