Certified Associate in Project Management (CAPM) — Question 133

Which tool should a project manager use to calculate cost variance for a project?

Answer options

• A. Contingency analysis
• B. Expert judgment
• C. Actual cost
• D. Review lessons learned from similar projects

Correct answer: C

Explanation

The correct answer is C, as the Actual cost is necessary for calculating cost variance by comparing it to the planned budget. Options A and B do not provide the specific financial figures needed for this calculation, and D is useful for gaining insights but does not directly influence cost variance calculations.