According to the PMBOK® Guide, specifically within the section covering Project Life Cycle and Organization, all projects—regardless of size or complexity—share a generic life cycle structure. This structure reveals several key characteristics regarding cost, staffing, risk, and stakeholder influence over time.
Stakeholder Influence, Risk, and Uncertainty: These factors are at their highest at the start of the project. As the project progresses and more decisions are made and deliverables are accepted, the ability of stakeholders to influence the final characteristics of the project ' s product without significantly impacting cost decreases.
Risk of Failure: Similar to stakeholder influence, the uncertainty and risk of failing to achieve the objectives are greatest at the start of the project. These factors decrease over the project life cycle as decisions are reached and deliverables are accepted.
Cost of Changes: Conversely, the cost of making changes and correcting errors typically increases substantially as the project approaches completion. A change that costs very little during the Initiating phase could be prohibitively expensive during the Closing phase because the work would have to be undone and rebuilt.
Cost and Staffing Levels: These are typically low at the start, peak as the work is carried out (Executing phase), and drop rapidly as the project draws to a close.
Comparison with other options:
A. Staffing level is highest at the start: This is false. Staffing levels are generally low at the start, peak during the intermediate phases (Executing), and fall off as the project nears completion.
C. The level of uncertainty is lowest at the start: This is false. Uncertainty (and the risk of failing to meet objectives) is at its highest at the start of the project due to the lack of detailed information.
D. The cost of changes is highest at the start: This is false. The cost of changes is lowest at the start and increases exponentially as the project progresses and more resources are committed to a specific path.
