Exam PMP topic 1 question 951 discussion

In the context of cost-cutting initiatives, senior management is likely looking for a report that can provide an estimate of how much work remains and what the financial implications are for outstanding projects. Forecast estimation is the best tool for this purpose, as it provides an estimated prediction of future work based on current project performance, allowing the project manager to forecast remaining work and associated costs. Forecast estimation typically uses data such as remaining work and current performance trends (like velocity or work completed over time) to predict future outcomes.

D. Burndown chart

D. Burndown chart A burndown chart is a graphical representation that shows the remaining work versus time. It helps project managers and stakeholders understand the amount of work left in a project and whether the project is on track to complete on time.

D - This chart is a graphical representation of the work remaining in a timebox or the work completed toward the release of a product or project deliverable

i'll go with A

Simply "work remaining" no need for deep analysis with EV.

Earned Value (EV) is a project management technique that combines cost, schedule, and work performance data to assess project progress and forecast future performance. It provides a clear picture of how much work has been completed in relation to the planned work and how much work remains to be done. EV allows senior management to assess project performance, identify variances, and make informed decisions regarding cost-cutting initiatives and resource allocation for outstanding projects.

A Burndown Chart could also be a valuable tool for tracking and reporting the progress of outstanding projects during a cost-cutting initiative. A Burndown Chart visually represents the work completed (or "burned down") over time against the total work required. It helps in tracking the project's trajectory and predicting when the work will likely be completed.

Actually, upon rereading the question. Management wants to cut costs. A burndown chart gives no information on costs. The forecast estimation shows however, how much we still need to spend for the project.

Burndown Chart shows what has been done and what still needs to be done, thus gives the most comprehensive overview

Its D. Work completed till date and what is still pending.

The burndown chart offers a clear and concise representation of the remaining work and its anticipated completion, making it an appropriate choice for this scenario.

Earned Value - Shows the cost involved to complete the project and the current status as well (AC).