Exam CAPM topic 1 question 326 discussion

C. Actual cost Explanation: To calculate cost variance, you need to compare the actual cost incurred with the planned or budgeted cost. Cost variance = Actual cost - Planned value The other options are not directly involved in the calculation itself: Contingency analysis is used to identify potential risks and allocate reserves. Expert judgment is a qualitative technique often used in estimating. Reviewing lessons learned is helpful for future projects but doesn't provide data for the current calculation. Therefore, actual cost is the essential data point for determining cost variance.