International Project Management Association (IPMA) Practice Exam

During project execution, a project manager's responsibilities encompass a broad range of focus areas, all of which are critical to ensuring the project's success. Cost management involves monitoring and controlling project expenditures to stay within the budget. This is essential to avoid overspending and to optimize resource allocation.

Team performance is another vital area, as a project manager must lead and motivate the team to ensure that tasks are being completed effectively and efficiently. Keeping the team engaged and productive directly influences project outcomes.

Risk mitigation is equally important. During execution, risks can materialize, and a proactive approach to identifying, assessing, and responding to these risks is crucial to prevent or minimize their impact on the project.

Thus, recognizing that all of these areas—cost management, team performance, and risk mitigation—are interrelated and essential during execution confirms that the most comprehensive answer encompasses all aspects of project management during this phase. By focusing on all three areas, a project manager is equipped to address the complexities and dynamics of project execution effectively.