Certified Professional in Talent Development (CPTD) Practice Exam

Which section of a project charter summarizes the budget?

1. High-level risks

2. Budget summary

3. Critical milestones

4. Feasibility analysis

The correct answer is: Budget summary

The section of a project charter that summarizes the budget is the budget summary. This section provides an overview of the financial resources required for the project, detailing the estimated costs associated with various aspects of the project, such as labor, materials, and any other expenditures needed to achieve the project objectives. Including a budget summary in the project charter is crucial, as it sets the financial framework for the project and enables stakeholders to understand the financial commitment involved. This section ensures that everyone is aligned on the budgetary expectations and can make informed decisions regarding project feasibility and resource allocation. Other sections, while important, do not focus specifically on financial information. High-level risks outline potential challenges that may affect project execution, critical milestones detail significant deadlines and deliverables, and feasibility analysis assesses the practicality and viability of the project itself. Thus, the budget summary is the correct choice for summarizing overall financial requirements.