Exam CAPM topic 1 question 196 discussion

B contains "durations" which is schedule; No need to perform Quality Control so no C; no need to bother w/ Stakeholder so no D; thus A

Why the other options are incorrect: B. Plan Cost Management and Estimate Activity Durations ❌ Estimating durations is part of schedule planning, not directly used to influence cost. ❌ Plan Cost Management sets the framework but doesn’t directly influence specific cost elements. C. Control Quality and Control Costs ❌ These are monitoring and controlling processes that happen after much of the cost is already committed. D. Plan Stakeholder Engagement and Plan Communications Management ❌ Related to stakeholder and communication strategies, not cost control or influence.

A. Estimate Costs and Determine Budget To influence costs in the early stages of a project, the two processes that should be used are: 1. Estimate Costs: This process involves developing an approximation of the monetary resources required to complete project activities. It is performed early in the project to provide an initial understanding of the project's cost implications. 2. Determine Budget: This process takes the cost estimates from the Estimate Costs process and allocates them to specific project activities or work packages. It establishes the approved budget for the project and helps in managing costs throughout the project's lifecycle. By using these two processes, project managers can set cost expectations, allocate resources effectively, and establish a budget framework to guide cost management from the project's inception.

I think its A. I used Chatgpt to double check and its A

I think activity duration doesn't influence the cost

Right is B

INFLUENCE. more activities = more cost

The right answer is B

7.1 Plan Cost Management—The process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled.

influence is not the same as estimate