A project manager is reviewing the cost performance index (CPI) and realizes that the project is currently running under budget with a CPI of 1.2. Considering the importance of maintaining an up-to-date budget, what is the BEST next step for the project manager to ensure proper budget management moving forward?
Reforecast the project budget based on current performance to determine if adjustments are needed.
Maintain the current spending rate as it indicates a well-estimated budget.
Use the surplus budget to increase the project scope without further analysis.
Immediately communicate to stakeholders that the project is under budget to demonstrate efficient use of resources.