PMP Certification Training - Learning Objective - Project Cost Management

This lesson focuses on project cost management, covering its processes and management process groups. It outlines the learning objectives, which include understanding and defining project cost management processes, and discusses key areas such as planning cost management, estimating costs, determining budgets, controlling costs, and earned value management.

What is the primary focus of this lesson?

• Project cost management

• Project risk management

• Project quality management

• Project time management

Which of the following is a learning objective of this lesson?

• Understand project cost management

• Define project risk management

• Implement project quality management

• Analyze project time management

Which process is NOT part of the project cost management process groups?

• Schedule management

• Plan cost management

• Estimate cost

• Determine budget

What is the purpose of earned value management in project cost management?

• To control project costs

• To estimate project duration

• To manage project risks

• To improve project quality

Which of the following is a key component of controlling costs in project management?

• Quality assurance

• Budget determination

• Risk assessment

• Earned value management