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CAPM
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Subjects
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certifications
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capm
Instructions:
Answer 50 questions in 15 minutes.
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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. Seeking to shift the consequences of the risk to a third party together with the ownership for the response.
Transference
Rework
Project Cost Management
Requirements Management Plan
2. Group of related projects managed in a coordinated way to obtain control and benefits that are not available if managed individually.
Perform Quantitative Risk Analysis
Project Human Resource Management
Program
Assumptions
3. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.
Cost Performance Baseline
Contract Change Control System
Forecasting
Grade
4. Descriptions of which resources will be available at what times and in what patterns necessary for schedule development
Conduct Procurements
Resource Pool Descriptions
Project Team Directory
Work Breakdown Structure (WBS)
5. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.
Project Selection Methods
Direct costs
Assumptions
Free Float
6. Incurred for the exclusive benefit of the project (e.g. - salaries of full-time project staff).
Direct costs
Precedence Relationships
Work Results
Estimate Activity Durations
7. 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.
Life Cycle Costing
Corrective Action
Define Scope
Indirect costs / Overhead costs
8. Policies - guidelines and procedures that can help the project management team with various aspects of organizational planning.
Information Distribution Methods
Human Resource Practices
Project Assumption Testing
Fixed- price contracts
9. 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.
Develop Human Resource Plan
Decision Tree
Differences between Operations and Project
Project Stakeholders
10. It compares cost performance over time - schedule activities or work packages overrunning and under running the budget - and estimated funds needed to complete work in progress.
Tolerances vs. Control limits
Quality Improvement
Procurement Management Plan
Brainstorming
11. This involves calculating the theoretical early and late start and finish dates for all project activities without regard to any resource pool restrictions.
Close procurements
System or Process
Assumptions
Mathematical Analysis
12. The amount of time that a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities.
Free Float
Project Files
Project Human Resource Management
Product Scope
13. The expected total cost of a schedule activity - a work breakdown structure component - or the project when the defined scope of work will be completed.
Budget Updates
Decomposition
Risk Register
Estimate at Completion (EAC)
14. 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
Time and Material (T&M) Contracts
Grade
Responsibility Assignment Matrix (RAM)
Project Procurement Management
15. Documents the characteristics of the product - result - or service which the project is undertaken to create.
Product Description
Estimate Activity Durations
Quality Assurance
Mathematical Analysis
16. A collection of formal (note: not informal) documented procedures - which defines how the documentation and project deliverables will be managed - changed and approved.
Data precision
Requirements Traceability Matrix
Change Control System
Design of Experiments (DOE)
17. The expected cost needed to complete all the remaining work for a schedule activity - work break down structure component - or the project.
Estimate Activity Resources
Brainstorming
Work Results
Indirect costs / Overhead costs
18. A hierarchically organized depiction of the project organization arranged so as to relate the work packages to the performing organizational units.
Scope Management Plan
Organization Breakdown Structure
Project Schedule Network Diagrams
Documentation Reviews
19. A formal or informal approach to obtain information from stakeholders by talking to them directly
Interviews
Revised Cost Estimates
Scope Changes
Group Decision Making Techniques
20. 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
Matrix Organization
Project Cost Management
Procurement resources
Program Evaluation and Review Technique (PERT)
21. Process of identifying and documenting relationships among the project activities. Sequencing can be performed by using project management software or by using manual or automated techniques.
Manage Stakeholder
Quality Improvement
Bid / quotation
Sequence Activities
22. Reduce the probability and/or consequence of an adverse risk event to be within acceptable threshold limits.
Communications management plan
Grade
To-Complete Performance Index (TCPI)
Mitigation
23. A group of documented procedure used to apply technical and administrative direction and surveillance to: a) Identify and document the system's functional and physical characteristics; b)Control any changes to such characteristics; c) Record and repo
Re-baselining
Configuration Management System
Constraints
Responsibility Assignment Matrix (RAM)
24. Describes the processes required to ensure that the project satisfies the needs for which it is undertaken. It includes quality planning - performing quality assurance and control.
Program
Documentation Reviews
Triggers
Project Quality Management
25. 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.
Schedule updates
Rework
Re-baselining
Project Selection Methods
26. Also known as "job shadowing -" it is usually done externally by the observer viewing the user performing her job.
Resource Calendar
Control Account
Observations
Assumptions Analysis
27. 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.
Risk
Resource Pool Descriptions
Life Cycle Costing
Estimate to Complete (ETC)
28. 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
Design of Experiments (DOE)
Deliverable
Control Schedule
Differences between Operations and Project
29. Includes identified risks - risk owners - results of Perform qualitative risk analysis process - agreed upon response strategies - etc.
Schedule updates
Collocation
Analogous Estimating / Top-down
Risk Register
30. Includes the processes that organize - manage - and lead the project team.
Control Account
Project Human Resource Management
Facilitated Workshops
Checklists
31. Activities specifically taken by management and team members to help individual team members work together effectively - thereby improving team performance
Team Building Activities
Inspection
Quality Assurance
Life Cycle Costing
32. 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.
Indirect costs / Overhead costs
Constraints
Plan Risk Responses
Organization Chart
33. Estimating or predicting future project status and progress based on knowledge and information available at the time of forecasting.
Forecasting
Work Authorization System
Mitigation
Flowcharts
34. Describes how the procurement processes (from developing procurement documentation through contract closure) will be managed
Prototypes
Estimate Activity Resources
Procurement Management Plan
Mitigation
35. The conclusion of a project phase is marked by a review of both key deliverables and project performance till date to determine if the project should continue into its next phase and detect and correct errors cost-effectively. These phase end reviews
External Feedback
Subproject
Phase Exits/ Stage Gates/ Kill Points
Project Team Directory
36. 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.
Parametric Estimating
Make-or-buy analysis
Initiation
Flowcharts
37. List of risks includes those that pose the greatest threat or present the greatest opportunity to the project together with a measure of their impact.
Project Assumption Testing
Workaround plans
Prioritized list of quantified risks
Trend Analysis
38. 1. Performed by people; 2. Constrained by limited resources; 3. Planned - excuted - monitored - and controlled; 4. Ultimate goal is to achieve organizational objectives or stratregic plans
Similarities between Operations and Projects
Procurement resources
Mitigation
Distribute Information
39. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.
Simulation
System or Process
Activity List
Resource Calendar
40. Approved modifications to the project schedule that are used to manage the project
Control Account
Observations
Schedule updates
Staffing Pool Description
41. Process of obtaining seller responses - selecting a seller - and awarding a contract
Requirements Traceability Matrix
Control Schedule
Templates
Conduct Procurements
42. Judgment provided based upon expertise in an application area - knowledge area - discipline - industry - etc. as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education - knowledg
Expert Judgment
Similarities between Operations and Projects
Perform Qualitative Risk Analysis
Project Plan
43. An uncertain event or condition that - if it occurs - has a positive or negative effect on the project objective.
Attribute Sampling vs. Variables Sampling
Risk
Performance Reports
Organization Chart
44. Lists or files maintained with information on prospective sellers. These lists will generally have information on relevant past experience and other characteristics of the prospective sellers
Project Portfolio Management
Program Evaluation and Review Technique (PERT)
Qualified seller lists
Constraints
45. Records of previous project results that can be used to identify risks.
Mandatory Dependencies (or Hard Logic)
Project Files
Project Charter
Checklists
46. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.
Process Adjustments
Simulation
Proposals
Probabilistic Analysis of the project
47. Predefined approaches to risk analysis and response in some organizations that have to be tailored to a particular project.
Contingency - Buffer - Reserve
Change Requests
Risk management policies
Project Team Directory
48. The process of confirming human resource availability and obtaining the team necessary to complete project assignments.
Acquire Project Team
Assumptions Analysis
Program Evaluation and Review Technique (PERT)
Analogous Estimating / Top-down
49. Includes the processes that help to estimate - budget - and control costs - so that the project can be completed within the approved budget.
Project Cost Management
Program
Differences between Operations and Project
Benchmarking
50. Complete set of indexed contract documentation - including the closed contract - that is prepared for inclusion with the final project files
Communications Technology
Prototypes
Project Cost Management
Procurement file
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