CAPM (Certified Associate in Project Management) Practice Exam

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Study for the CAPM Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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What does the control costs process involve?

Allocating budgets
Monitoring project status against the budget and cost baseline
Increasing project costs
Reducing project costs

The correct answer is: Monitoring project status against the budget and cost baseline

The control costs process in project management involves monitoring the project status against the budget and cost baseline. This means comparing the actual project costs to the planned budget and cost baseline to ensure the project stays on track financially. By closely monitoring project costs, project managers can identify variances, make necessary adjustments, and take proactive measures to keep the project within budget. This process helps in identifying deviations from the budgeted costs and enables project teams to implement corrective actions when needed. Option B is the correct answer as it effectively describes the key aspects of the control costs process.