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. 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.






2. Process of developing options and actions to enhance opportunities and to reduce threats to project objectives. Includes the identification and assignment of individuals to take responsibility for each agreed-to and funded risk response.






3. Describes the need - justification - requirements - and current boundaries for the project.






4. Seller prepared documents that describe the seller's ability and willingness to provide the requested product.






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






6. Precedence Diagramming Method (PDM) includes four types of dependencies or relationships between activities: 1. Finish to Start; 2. Finish to Finish; 3. Start to Finish; 4. Start to Start






7. Probability that a risk will occur.






8. 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.






9. The document that describes the communication needs and expectations for the project; how and in what format information will be communicated; when and where each communication will be made; and who is responsible for providing each type of communica






10. A partially complete document in a predefined format that provides a defined structure for collecting - organizing - and presenting information and data.






11. Describes the processes required to ensure timely completion of the project. It includes defining activities - sequencing activities - estimating activity resources - estimating activity durations - developing the schedule - and controlling the sched






12. Charts/ 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 -






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






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






15. Any modification to the agreed upon project scope as defined by the approved WBS






16. Includes the processes that help to estimate - budget - and control costs - so that the project can be completed within the approved budget.






17. 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.






18. A general data gathering and creativity technique that can be used to identify risks - ideas - or solutions to issues by using a group of team members or subject matter experts which data can be addressed later in Perform qualitative and quantitative






19. Used to rate or score seller proposals






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






21. Includes the processes that help to estimate - budget - and control costs - so that the project can be completed within the approved budget.






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






23. Generally used when considerations like technical approach and technical skills are paramount in source selection






24. Includes identified risks - risk owners - results of Perform qualitative risk analysis process - agreed upon response strategies - etc.






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






26. Determining which risks may affect the project and documenting their characteristics.






27. 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.






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






29. It is used to identify stakeholders that can provide information on detailed project and product requirements. It contains the following information regarding the identified stakeholders: identification information (name - designation - location - co






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






31. Checklists are structured tools - usually component specific - used to verify that a set of required steps has been performed and to ensure consistency in frequently performed tasks. These can be developed based on historical information and knowledg






32. Project team accepts the risk - i.e. team decides not to change the project plan to deal with the risk - or is unable to identify any other suitable response strategy.






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






34. Describes the extent to which a risk is known or understood. Measures extent of data available as well as reliability of data.






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






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






37. 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






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






39. 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.






40. 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.






41. Predefined approaches to risk analysis and response in some organizations that have to be tailored to a particular project.






42. Documents how requirements will be analyzed - documented - and managed throughout the project






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






44. Describes how the procurement processes (from developing procurement documentation through contract closure) will be managed






45. Describes how project scope will be managed and how scope changes will be integrated into the project. It should also include an assessment of the expected stability of the project scope






46. It shortens the project schedule without changing the project scope - in order to meet schedule constraints - imposed dates - or other schedule objectives. -. This technique includes crashing and fast tracking.






47. Includes the processes required to purchase or acquire products - services - or results needed from outside the project team.






48. This is done to take care of risks that were not identified in the risk response plan - or their impact on objectives is greater than expected.






49. Process of obtaining seller responses - selecting a seller - and awarding a contract






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