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A project team is working on relocating offices to another building and providing new furniture.

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A project team is working on relocating offices to another building and providing new furniture. The new furniture was purchased from an international vendor. The price was negotiated in a foreign currency, and due to changes in the exchange rate, the cost has increased by 10%. There is no contingency in the project budget. What should the project manager do?

A.

Escalate this issue to the project management office (PMO).

B.

Escalate this issue to the chief financial officer (CFO).

C.

Escalate this issue to the procurement team.

D.

Escalate this issue to the project sponsor.

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