PMP Practice Question 1351 - People
The investment committee is the authority for the approval of funding required for a business improvement project. The investment committee approved funding to complete the preliminary feasibility study. The project is on an expedited schedule, and the project manager requires interim funding to continue with the preliminary feasibility activities that must begin immediately. How should the project manager get these funds approved?
- A.Exclude the preliminary scope from the full project scope and continue it as a new project that does not require investment committee approval.
- B.Wait until the next investment committee meeting to submit the request and include the delay in the schedule due to work that could not start.
- ✓ Correct C.Submit the request to the project director for interim approval and include this approval for discussion at the next investment committee meeting.
- D.Continue with the preliminary activities and inform the investment committee at the next monthly meeting.
Correct answer: C
Explanation
When interim funding is needed on an expedited schedule, the PM should seek interim approval from an authority within the project governance structure, such as the project director. This ensures critical activities continue without delay. Once interim approval is granted, the PM should bring it to the investment committee's attention at the next formal meeting for acknowledgment and inclusion in the project's funding records. Maintaining project continuity while following governance protocols is a key PM responsibility.
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