CAPM Practice: Demonstrate an understanding of project management planning

The project management plan governs how the project work will be planned, executed, monitored, controlled, and closed. The product management plan addresses what happens to the product after the project ends—its ongoing lifecycle, maintenance, and evolution.

**Why not A:** This oversimplifies both plans. The project management plan includes far more than just schedule and budget — it encompasses scope management, risk management, quality management, communications, and more. The product management plan also extends beyond just requirements and quality standards.

**Why not C:** The project management plan is not created exclusively by the project manager, nor is the product management plan created solely by the sponsor. Both plans involve input from multiple stakeholders, and the distinction is about their content and focus, not who creates them.

**Why not D:** Neither plan is tied to a specific project approach. Both project management plans and product management plans are used regardless of whether the project follows agile, predictive, or hybrid methodologies.