What document is critical for tracking project budget accuracy throughout its lifecycle?

The critical document for tracking project budget accuracy throughout its lifecycle is a risk report. A risk report outlines potential risks and their impact on project costs, making it essential for monitoring budget accuracy. By identifying risks that could lead to budget overruns or savings, project managers can adjust financial forecasts and allocate resources accordingly, helping them to maintain control over project expenditures.

In managing budgets, understanding the implications of risks allows for proactive measures to mitigate impacts on costs. A solid grasp of the risks associated with a project ensures that unexpected expenses are accounted for and planned within the overall budget, aiding in more effective financial management.

While the other documents mentioned are also important in project management, they do not specifically focus on budget tracking. A change log documents modifications to project scope, a project schedule outlines tasks and timelines, and a resource allocation chart provides visibility into the distribution of resources. Each of these plays a role in project management, but none is as directly aligned with tracking budget accuracy as the risk report.