CAPM (Certified Associate in Project Management) Practice Exam

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Prepare for the CAPM exam with our comprehensive quiz that includes engaging questions, detailed explanations, and ample practice resources to help you succeed.

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

SWOT analysis
Forecasting
Stakeholder analysis
Brainstorming

The correct answer is: Forecasting

Forecasting is the correct answer because it is a tool and technique commonly used in the control costs process in project management. Forecasting involves making predictions based on historical data and trends to provide an estimate of future project costs. By using forecasting techniques, project managers can monitor and control project costs effectively to ensure that the project remains within budget. On the other hand: A. SWOT analysis is a strategic planning tool used in the early stages of a project to analyze the project's strengths, weaknesses, opportunities, and threats. C. Stakeholder analysis is a tool used to identify key stakeholders, analyze their interests, and determine the best strategies to engage with them throughout the project. D. Brainstorming is a creative technique used to generate ideas and solutions in a collaborative setting, typically during the planning or initiation phases of a project.