nerdexam
PMI

CAPM · Question #134

Which two processes should be used to influence costs in the early stages of a project?

The correct answer is A. Estimate Costs and Determine Budget. Estimate Costs and Determine Budget are the two processes that directly influence and establish cost commitments early in a project.

Predictive, Plan-Based Methodologies

Question

Which two processes should be used to influence costs in the early stages of a project?

Options

  • AEstimate Costs and Determine Budget
  • BPlan Cost Management and Estimate Activity Durations
  • CControl Quality and Control Costs
  • DPlan Stakeholder Engagement and Plan Communications Management

How the community answered

(17 responses)
  • A
    82% (14)
  • C
    12% (2)
  • D
    6% (1)

Why each option

Estimate Costs and Determine Budget are the two processes that directly influence and establish cost commitments early in a project.

AEstimate Costs and Determine BudgetCorrect

Estimate Costs produces the cost estimates for individual activities, while Determine Budget aggregates those estimates into an authorized cost baseline. Both processes occur during the Planning process group and are the primary mechanisms through which cost decisions are made and locked in early - before execution begins, when the ability to influence costs is highest.

BPlan Cost Management and Estimate Activity Durations

Plan Cost Management defines how costs will be managed but does not itself produce cost estimates; Estimate Activity Durations is a schedule process, not a cost process.

CControl Quality and Control Costs

Control Quality and Control Costs are Monitoring and Controlling processes that react to variances after execution begins - they do not influence early cost decisions.

DPlan Stakeholder Engagement and Plan Communications Management

Plan Stakeholder Engagement and Plan Communications Management are in the stakeholder and communications knowledge areas and have no direct role in setting or influencing project costs.

Concept tested: Early cost influence through Estimate Costs and Determine Budget

Source: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok

Topics

#Cost Management#Project Planning#Estimate Costs#Determine Budget

Community Discussion

No community discussion yet for this question.

Full CAPM Practice