Change Control Board

Correct Answer: Update the budget plan considering the new costs and communicate all stakeholders about the changes.

The correct answer is 'Update the budget plan considering the new costs and communicate all stakeholders about the changes'. This is the best course of action as a Project Manager because it addresses the change and its impact on the project's budget. It ensures all stakeholders are well informed of the changes, promoting transparency and avoiding miscommunications. The other options are not viable as ignoring the approval and not adjusting the budget plan would lead to discrepancies between expectations and reality. Sending back the change for reconsideration is also not suitable because the Change Control Board has already approved it, hence it indicates the change's importance outweighs the cost impact.

Correct Answer: Evaluating the impact of proposed changes on project goals and deciding on their implementation

The primary responsibility of the Change Control Board (CCB) is to evaluate the impact of proposed changes on project goals and decide on their implementation. This involves a thorough assessment of how the change might affect project timelines, resources, and overall objectives, ensuring alignment with the project's strategic goals. The other options are incorrect because: - The CCB is not responsible for directly implementing approved changes or informing stakeholders about adjustments. These tasks are typically handled by the project manager or designated team members. - The CCB does not approve all change requests to ensure project completion within the original timeline. Instead, they carefully evaluate each request and make decisions based on its potential impact on the project. - The CCB is the final decision-making authority for change requests and does not pass them to the project sponsor for final approval. The project sponsor may be involved in the CCB, but the board itself has the authority to make decisions regarding change requests.

Correct Answer: To review and approve or reject change requests

The primary role of the Change Control Board (CCB) in a project is to review and approve or reject change requests. This is the correct answer because:

1. The CCB is responsible for evaluating proposed changes to the project.
2. They assess the impact of changes on project scope, schedule, budget, and quality.
3. The CCB has the authority to approve or reject change requests based on their evaluation.
4. This process ensures that changes are managed in a controlled manner and align with project objectives.

The other options are incorrect:

Managing the project's budget and resource allocation is typically the responsibility of the project manager, not the CCB.

Implementing all changes proposed by the project team is not the CCB's role. The CCB evaluates and decides on changes, but does not implement them.

Documenting and tracking all project risks and issues is part of risk management, which is a separate process from change control. While the CCB may consider risks when evaluating changes, this is not their primary function.