CAPM (Certified Associate in Project Management) Practice Exam

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What is a main function of claims administration?

To assess project risks
To prepare budget forecasts
To respond to conflict between buyer and seller
To conduct market research

The correct answer is: To respond to conflict between buyer and seller

One of the main functions of claims administration is to effectively manage and respond to conflicts that may arise between the buyer and the seller during the course of a project. Claims administration involves handling and resolving disputes, discrepancies, or disagreements that could impact the project timeline, budget, or scope. By actively addressing and managing conflicts between parties, claims administration helps maintain positive relationships and ensures project success.