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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Which tools and techniques are used in plan cost management?

Schedule baseline, cost baseline
Project charter, enterprise env factors
Expert judgment, analytical techniques, meetings
Existing formal and informal schedule control-related policies

The correct answer is: Expert judgment, analytical techniques, meetings

The correct answer is C. Expert judgment, analytical techniques, and meetings are tools and techniques used in plan cost management. Expert judgment involves seeking advice and insights from knowledgeable individuals or groups to improve cost estimates and management processes. Analytical techniques help in evaluating and understanding cost-related data to make informed decisions. Meetings provide a platform for project stakeholders to discuss and align on cost management strategies. Options A, B, and D are not tools and techniques specifically used in plan cost management. Option A refers to components of a project management plan, Option B relates to project initiation and external factors, and Option D is focused on schedule control policies, which do not directly pertain to cost management.