CAPM (Certified Associate in Project Management) Practice Exam

Which tool or technique is used in the estimate costs process?

1. Expert judgment

2. Stakeholder analysis

3. Quality management

4. Change management tracking

The correct answer is: Expert judgment

Expert judgment is the appropriate tool or technique used in the estimate costs process because it involves input and advice from knowledgeable and experienced individuals in cost estimation. These experts can provide valuable insights, data, and opinions to make more accurate cost estimates for the project. Stakeholder analysis is not directly related to cost estimation, but rather focuses on identifying and understanding stakeholders and their interests in the project. Quality management involves processes related to ensuring the quality of deliverables and may not specifically focus on the estimation of costs for the project. Change management tracking is related to monitoring and controlling changes to the project scope, schedule, and cost, but it is not the primary tool or technique used in the estimate costs process.