CAPM (Certified Associate in Project Management) Practice Exam

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What is essential for applying historical relationships in estimating?

Having a large team
Access to advanced software
Accurate historical information
High project budget

The correct answer is: Accurate historical information

When estimating using historical relationships, accurate historical information is crucial as it serves as the foundation for the estimations. Without accurate historical information, the estimates may not be reliable or relevant to the specific project being estimated. Additionally, having a large team or access to advanced software may help with the estimation process, but they are not essential as accurate historical information. A high project budget may allow for the use of more tools and resources, but it is not necessary for applying historical relationships in estimating.