CAPM Practice: Demonstrate an understanding of project management planning

The project management plan governs how the project work will be performed, monitored, controlled, and closed. The product management plan addresses the product's features, maintenance, support, and lifecycle management after the project delivers the product.

**Why not A:** Both the project management plan and product management plan address multiple knowledge areas beyond just schedule, budget, quality, and scope. The project management plan encompasses all aspects of project execution, while the product management plan covers the product's ongoing lifecycle.

**Why not C:** Both plans can be shared internally and externally depending on the context. The distinction is not about audience but about focus: the project management plan governs how the project is run, while the product management plan governs the product's lifecycle after delivery.

**Why not D:** The project management plan is typically created by the project manager, not the sponsor. The product management plan is created by a product manager or product owner, not the project manager. This option misassigns authorship for both plans.