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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What summarizes the effort expressed in resource costs needed to produce each deliverable?

Cost management plan
Time-phased budget
Resource leveling
Cost baseline

The correct answer is: Time-phased budget

A time-phased budget summarizes the costs of each deliverable over time, allowing for better understanding and management of resource costs. Option A, cost management plan, is incorrect because it focuses on overall cost management, not specifically on the effort needed for each deliverable. Option C, resource leveling, is incorrect because it specifically refers to redistributing resources to balance workload, not summarizing effort in terms of resource costs. Option D, cost baseline, is incorrect because it refers to the approved budget for a project, not specifically the effort expressed in resource costs needed for each deliverable.