Problem
Topic: Cost Management Plan
A. What happens to changes to control thresholds when the budget gets higher than the threshold and how to document it?
B. Changes to the cost baseline are incorporated in response to approved changes in scope, resources, or cost estimates. explain with examples and how to document it in the plan
C. Changes to the performance measurement baseline are incorporated in response to approved, explain with example and how to document it.
Details - I'm responsible for organising an event in the college. Students from other colleges are supposed to be there so I have arranged the bus service, arrangements with respect to food . Paricipation certificates for attendees.
Total budget - $4,325
bus - $1993
FOOD - $1734
Gifts - $580
Contingency Budget - $865 - 25% of the total budget.