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Subjects : certifications, capm
Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Calculates the theoretical early start and finish dates - and late start and finish dates - for all activities without regard to any resource limitations. This is done by performing a forward and backward pass analysis through the schedule network.






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






3. 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






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






5. Process to monitor the status of the project to update the project budget and manage changes to the cost baseline.






6. Allows for probabilistic treatment of both network logic and activity duration estimates






7. A mathematical technique to forecast future outcomes based on historical results. This is performed using run charts.






8. A documented list of project team members - their project roles - and communication information.






9. They possess a blend of functional and projectized characteristics. Weak matrices maintain many of the characteristics of a functional organization - and the Project Manager's role is more that of a coordinator or expediter than that of a manager. Si






10. Describes the processes required to ensure that the project is completed within the approved budget. It includes estimating the cost - determining the budget - and controlling the costs.






11. Refers to the centralized management of one or more portfolios to achieve strategic business objectives. Portfolio management ensures that the portfolios are reviewed to ascertain that resources are allocated as per priority and the allocation is con






12. 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.






13. Mutually binding legal agreement that obligates the seller to provide the specified products - services - or results - and obligates the buyer to compensate the seller.






14. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.






15. Used to generate - classify - and prioritize product requirements. Some methods used to reach group decisions are: unanimity - majority - plurality - and dictatorship.






16. 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






17. Clarify the structure - requirements and other terms of the purchases so that mutual agreement can be reached prior to signing the contract.






18. Factors which - for planning purposes - are considered to be true - real or certain.






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






20. Involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work - plus a fee representing seller profit






21. Documentation resulting from project activities. These files may also maintain records of other projects that are detailed enough to aid in developing cost estimates.






22. A hierarchically organized depiction of the project organization arranged so as to relate the work packages to the performing organizational units.






23. 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.






24. 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






25. 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.






26. Factors that - for planning purposes - will be considered true - real or certain.






27. 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.






28. In a projectized organization - most of the organization's resources are involved in project work - and Project Managers have a great deal of independence and authority.






29. 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






30. The planned dates to perform schedule activities and the planned dates for meeting schedule milestones. Includes planned start and finish dates for the project's activities - milestones - work packages - planning packages - and control accounts. This






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






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






33. Process of monitoring the status of the project and product scope and managing changes to the scope baseline.






34. 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.






35. A project is a temporary endeavor undertaken to create a unique product - service - or result






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






37. Methods used to distribute information to team members and other stakeholders.






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






39. Defines what kinds of competencies are required from what kind of individuals or groups and in what time frames.






40. Bring together prequalified stakeholders and subject matter experts to learn about their expectations and attitudes about a proposed product - service - or result






41. Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products - services - or results.






42. 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






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






44. The planned dates to perform schedule activities and the planned dates for meeting schedule milestones. Includes planned start and finish dates for the project's activities - milestones - work packages - planning packages - and control accounts. This






45. Incurred for the exclusive benefit of the project (e.g. - salaries of full-time project staff).






46. 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.






47. Risks that arise as a direct result of implementing a risk response.






48. 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.






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






50. 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.







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