This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- An Exception Report is triggered by a forecast that tolerances will be breached, not after the breach has already happened.

- The Project Manager's primary role is to produce the Exception Report, detailing the cause, impact, options, and a clear recommendation.

- Once an exception is reported, the Project Manager's authority to act stops, and the Project Board takes over decision-making.

- The Project Board's options include approving a change, requesting an Exception Plan, or prematurely closing the project.

- An approved Exception Plan replaces the current Stage Plan for the remainder of that stage, not the entire Project Plan.

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