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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. Modifications to the cost estimation prepared for the project






2. A method of estimating a component of work. The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of the lower - more detailed pieces of work. These estimates are then aggregated into a to






3. 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.






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






5. An organizational placement strategy where the project team members are physically located close to one another in order to improve communication - working relationships - and productivity.






6. Provide a structure that ensures a comprehensive process of systematically identifying risks to a consistent level of detail and contributes to the effectiveness and quality of the Identify Risks process. They include categories like technical - exte






7. Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.






8. Used to solicit proposals from prospective sellers






9. Used to rate or score seller proposals






10. Changing the project management plan to eliminate the threat entirely.






11. A subsequent phase of a project is sometimes begun prior to approval of the previous phase deliverables when the risks involved are deemed acceptable. This practice of overlapping phases is often called fast tracking






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






13. An estimating technique that uses the values of parameters - such as scope - cost - budget - and duration or measure of scale such as size - weight - and complexity - from a previous - similar activity as the basis for estimating the same parameter o






14. If the performing organization does not have a formal contracting group - then the project team will have to supply both the resources and expertise to support procurement activities






15. Process of formally authorizing a new project or the next phase of an existing project; links the project to the ongoing work of the performing organization






16. A documented tabulation of schedule activities that shows the activity description - activity identifier - and a sufficiently detailed scope of work description so project team members understand what work is to be performed.






17. 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.






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






19. Involves developing a better understanding of the product of the project






20. Any form of schedule network analysis in which scheduling decisions are driven by resource constraints.






21. A method of obtaining early feedback on requirements by providing a working model of the expected product before actually building it.






22. An estimating technique that uses a statistical relationship between historical data and other variables to calculate an estimate for activity parameters - such as scope - cost - budget - and duration. An example for the cost parameter is multiplying






23. Quantities to be performed for each specific category - and can be used to estimate activity durations






24. Costs allocated to the project by the performing organization as a cost of doing business (e.g. - salaries of corporate executives). Usually calculated as a percentage of direct costs.






25. Meetings with all prospective sellers and buyers prior to submittal of a bid or proposal. Used to ensure that all prospective sellers have a clear and common understanding of the procurement - and that no bidders receive preferential treatment.






26. 1. Operations do not have any timelines. Projects are temporary and have finite time duration. 2. Operation's objective is usually to sustain the business. Project's objective is to achieve the target and close the project.






27. Structured method to guide the project team during development of project plan. Standard forms and templates or even complicated simulations may be used.






28. Focused sessions that bring key cross-functional stakeholders together to define product requirements






29. Risks that remain after planned responses have been implemented - as well as those that have been deliberately accepted.






30. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.






31. Process of numerically analyzing the effect of identified risks on overall project objectives.






32. Formal written notice from a person or organization responsible for contract administration - informing that the contract has been completed.






33. Defines the procedures by which project scope can be changed; includes paperwork - tracking systems and approval levels necessary for authorizing changes.






34. Describes how risk management will be structured and performed on the project.






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






36. Activities specifically taken by management and team members to help individual team members work together effectively - thereby improving team performance






37. It can include correspondence - memos - meeting minutes - and documents describing the project.






38. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.






39. 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






40. An authorized time-phased budget at completion (BAC) used to measure - monitor - and control overall cost performance on the project. Developed as a summation of the approved budgets by time period and is typically displayed in the form of an S-curve






41. An estimating technique that uses parameters from a previous - similar project as the basis for estimating the same parameter/measure for a future project. Frequently used to estimate project duration when there is a limited amount of detailed inform






42. Probability that a risk will occur.






43. Diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.






44. Modifications to the cost estimation prepared for the project






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






46. Seeking to shift the consequences of the risk to a third party together with the ownership for the response.






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






48. An accepted action performed to bring projected future project performance in line with the project plan. These actions have to be documented.






49. Involves immediate corrective or preventive action as a consequence of quality control measurements.






50. Process of documenting project purchasing decisions - specifying the approach - and identifying potential sellers.






Can you answer 50 questions in 15 minutes?



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