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You are a project manager taking over a project that's in the definition phase. The project sponsor asks you to prepare for an upcoming budget review as they have concerns regarding the lack of cost control shown by the project to date. Which of the following actions would best improve the project sponsor's confidence in how you will control costs?
Correct Answer: B
Detailed Explanation: * Cost Breakdown Structure:Provides transparency into how the budget is allocated across tasks, improving confidence in cost control. * Why Other Options Are Incorrect: * A: Focuses on task definitions, not cost control. * C: Earned value assesses past performance but doesn't address current concerns. * D: Financial appraisal doesn't provide actionable insights for cost management.
