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A project manager is closing a project and preparing to hand it over to the operations team. During handover, a delayed invoice was submitted with a higher-than-planned cost against the project work. Consequently, project handover was delayed and the project's reported completion costs were increased. What should the project manager have done to avoid this situation?
Correct Answer: A
The Project Management Body of Knowledge (PMBOKGuide) emphasizes the importance of regular monitoring and controlling of project work and costs. This includes ensuring that all project activities and expenditures are recorded, reviewed, and reported accurately throughout the project lifecycle. Regularly capturing and reviewing all project work and related costs allows for early detection of discrepancies and enables timely corrective actions, which could prevent situations like delayed invoices with unexpected costs at project closing. References: = Project Management Institute. (2015). A Guide To The Project Management Body of Knowledge (PMBOKGuide) - Fifth Edition. Newtown Square, PA: Project Management Institute.