Test your basic knowledge |

Subjects : certifications, capm
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Features or services that characterize a product - result - or service






2. Repository that provides for collection - maintenance - and analysis of data gathered and used in the risk management process. Use of this database assists risk management throughout the organization and - over time - forms the basis of a risk lesson






3. A general management technique used to determine whether a particular work can be accomplished by the project team or must be purchased from outside sources.






4. The state - quality - or sense of being restricted to a given course of action or inaction. An applicable restriction or limitation - either internal or external to a project - which will affect the performance of the project or a process.






5. A -specific version of the schedule model used to compare actual results to the plan to determine if preventive or corrective action is needed to meet the project objectives.






6. An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. Root cause may underlie more than one variance or defect or risk. Root cause analysis is done as part of corrective action - Helps ide






7. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.






8. Broader view of Project Cost Management - whereby other than project costs - we consider the effect of project decisions on the cost of using the project's product.






9. Collection of generally sequential project phases.






10. Records of previous project results that can be used to identify risks.






11. The document that sets out the format and establishes the activities and criteria for planning - structuring - and controlling the project costs. The cost management plan is contained in - or is a subsidiary plan of - the project management plan.






12. The process of making relevant information available to project stakeholders in a timely manner - as planned. Performed throughout the entire project life cycle and in all management processes.






13. It is a tool and technique which is used to determine the information needs of the project stakeholders. This is a key component for planning the project's actual communications. It would assist in determining and limiting who will communicate with w






14. A structure that relates the project organizational breakdown structure to the work breakdown structure to help ensure that each component of the project's scope of work is assigned to a person or team. It illustrates the connections between work pac






15. Formal and informal policies that are required for project plan development. Organizational policies include quality management - personnel administration and financial controls.






16. Special category of revised cost estimates to an approved cost baseline.






17. Document that formally authorizes a project. Provides project manager with the authority to apply organizational resources to project activities.






18. Integrates scope - cost (or resource) - and schedule measures to help the project management team assess project performance.






19. Seller is a subcontractor - vendor - or supplier - who will typically manage the work of the project. Buyer is the customer who has outsourced work to the seller.






20. Persons or organizations who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project. They may also exert influence over the project - its deliverables - and the






21. Technique that explores the validity of assumptions basing on which every identified project risk is conceived and developed. It identifies risks to the project from inaccuracy - instability - inconsistency - or incompleteness of assumptions.






22. Also called risk symptoms or warning signs - they are indications that a risk has occurred or is about to occur. They may be discovered in the risk identification process and watched in the risk monitoring and control process.






23. Process of managing procurement relationships - monitoring contract performance - ad making changes and corrections as needed.






24. Provides a documented basis for making future project decisions and for confirming or developing common understanding of the project scope among the stakeholders






25. Any numbering system used to uniquely identify each component of the work breakdown structure.






26. A requirement imposed by a governmental body and its compliance is mandatory.






27. The process in which the estimated costs of individual activities or work packages are aggregated to establish an authorized cost baseline.






28. Helps to determine which risks have the most potential impact on the project. Examines the extent to which the uncertainty of each project element affects the objective being examined when all the other uncertain elements are held at their baseline v






29. For many procurement items - the procuring organization may elect to either prepare its own independent estimate - or have an estimate of costs prepared by an outside professional estimator - to serve as a benchmark on proposed responses.






30. Process of changing the schedule baseline. It is done when schedule delays are very severe - and the project schedule has to be completely changed.






31. Includes all those activities designed to enhance the competencies of the project team members. Training can be formal or informal.






32. Project team must measure itself periodically against the expectations of those outside the project.






33. Meetings that are regularly scheduled to exchange and analyze information about the project and its performance.






34. A schedule compression technique in which cost and schedule tradeoffs are analyzed to determine how to obtain the greatest amount of compression for the least incremental cost. Crashing only works for activities where additional resources will shorte






35. A process of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests - expectations - and influence of the stakehold






36. A calendar of working days and non- working days that determines those dates on which each specific resource is ideal or can be active; typically defines the resource specific holidays and resource availability periods; the calendars that specify whe






37. A technique for estimating that applies a weighted average of optimistic - pessimistic - and most likely estimates when there is uncertainty with the individual activity estimates.






38. Meetings held to assess project status and/or progress.






39. Action taken to bring a defective or nonconforming item into compliance with requirements or specifications. It is a frequent cause of project overruns in most application areas.






40. Involves setting a fixed total price for a defined product or service to be provided.






41. Application of knowledge - skills - tools - and techniques to project activities to meet the project requirements.






42. Process of defining and documenting stakeholders' needs to meet the project objectives






43. A formal - approved document used to define how the project is executed - controlled and monitored. It can either be at a detailed or high level and may contain one or more subsidiary plans.






44. Activities should have a coding structure to allow sorting and/or extractions based on different attributes assigned to the activities.






45. The expected cost needed to complete all the remaining work for a schedule activity - work break down structure component - or the project.






46. Risk Audits examine and document the effectiveness of risk responses in dealing with identified risks and their root causes - as well as the effectiveness of the risk management process.






47. Processes and procedures developed for the closing or canceling of projects.






48. Reduce the probability and/or consequence of an adverse risk event to be within acceptable threshold limits.






49. Describes the processes required to ensure timely and appropriate generation - collection - dissemination and ultimate disposition of project information. It includes identifying stakeholders - planning communication - distributing information - mana






50. Hybrid type of contractual agreements that contain aspects of both cost-reimbursable and fixed- price contracts. Some characteristics: · Open-ended - i.e. - full value of the agreement and the exact quantity of items to be delivered may not be define