The program manager plans to address a negative cost variance generating a red flag in the program management status report. What should the program manager do?
A.
Contact the project sponsors to present the details, impacts, and possible corrective actions regarding the negative cost variance.
B.
Gather all the details, analyze impacts, determine corrective actions and present the findings to the governance board for direction.
C.
Work with program sponsor to compile impact analysis data to obtain additional funding for the program.
D.
Ask the program team to compile all details, analyze impacts, determine corrective actions and present to the governance board for direction.
In the case of addressing a negative cost variance that is generating a red flag in the program management status report, the program manager should:
B. **Gather all the details, analyze impacts, determine corrective actions and present the findings to the governance board for direction.**
This option involves a comprehensive approach where the program manager first understands the issue in depth, analyzes its impacts on the program, and identifies potential corrective actions. After this thorough analysis, the findings are then presented to the governance board, which is typically responsible for providing strategic direction and making critical decisions. This ensures that any decision made is well-informed and aligns with the overall direction of the program.
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