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Task 3: Evaluate and address external business environment changesBusiness EnvironmentExternal EnvironmentTask 3Matching Conversion
PMP · Question 35 · Task 3: Evaluate and address external business environment changes
A project manager is monitoring the external environment and notes a significant drop in the currency exchange rate relevant to the project's imported materials. <br/><br/>Which project document should be updated FIRST?
A project manager is monitoring the external environment and notes a significant drop in the currency exchange rate relevant to the project's imported materials. <br/><br/>Which project document should be updated FIRST?
Answer options:
A.
Stakeholder Register
B.
Project Schedule
C.
Quality Management Plan
D.
Cost Baseline or Risk Register
How to approach this question
Link the Event (Currency Drop) to the Impact (Cost).
Full Answer
D.Cost Baseline or Risk Register✓ Correct
D
Economic changes like currency fluctuation impact project costs. The PM should update the Risk Register (if it's a new threat) or the Cost Baseline (via change control if the impact is realized).
Common mistakes
Updating the schedule (B) when the primary impact is cost.
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