CAPM (Certified Associate in Project Management) Practice Exam

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Study for the Certified Associate in Project Management Exam with practice questions and answers. Enhance your understanding of project management principles and strategies to excel in the 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!

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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.