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CAPM
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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. Reduce the probability and/or consequence of an adverse risk event to be within acceptable threshold limits.
Mitigation
Quantitatively based durations
Code of Accounts
Life Cycle Costing
2. A functional organization has a hierarchy in which every employee has one clear superior. Staff members are grouped by areas of specialization. Functional organizations may still have projects - but the perceived scope of the project is defined by th
Attribute Sampling vs. Variables Sampling
Benchmarking
Schedule updates
Functional Organization
3. 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.
Project Management
Observations
Collocation
Project
4. Descriptions of which resources will be available at what times and in what patterns necessary for schedule development
Resource Pool Descriptions
Time and Material (T&M) Contracts
Project Risk Management
Develop Schedule
5. A formal or informal approach to obtain information from stakeholders by talking to them directly
Interviews
Cost Management Plan
Qualified seller lists
Identify Risks
6. 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.
Scope Changes
Cost Performance Baseline
Grade
Quality Improvement
7. 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.
Acceptance
Additional Risk Response Planning
Buyer-Seller relationship
Statistical Sampling
8. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.
Scope Statement
Mathematical Analysis
Identify Stakeholders
Project Selection Methods
9. 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
Revised Cost Estimates
Critical Path Methodology (CPM)
Quality Assurance
Scope Changes
10. 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
Determine Budget
Data Precision Ranking
Responsibility Assignment Matrix (RAM)
Qualified seller lists
11. Describes the processes required to ensure that the project includes only the essential work required to complete the project successfully. It includes collecting the requirements - defining the scope - verifying the scope and controlling the scope o
Project Scope Management
Phase Exits/ Stage Gates/ Kill Points
Procurement Statements of Work (SOW)
Control Costs
12. Approved modifications to the project schedule that are used to manage the project
Assumptions
Schedule updates
System or Process
Procurement audits
13. Used to generate - classify - and prioritize product requirements. Some methods used to reach group decisions are: unanimity - majority - plurality - and dictatorship.
Staffing Pool Description
Group Decision Making Techniques
Technical performance measurement
Pareto Diagram/ Chart
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
Cost Performance Baseline
Contract
Mandatory Dependencies (or Hard Logic)
Time and Material (T&M) Contracts
15. 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.
Project Integration Management
Change Requests
Buyer-Seller relationship
Work Breakdown Structure (WBS)
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.
Risk probability
Mathematical Analysis
Perform Qualitative Risk Analysis
Activity List
17. Involves immediate corrective or preventive action as a consequence of quality control measurements.
Performance Reviews
Acceptance
Process Adjustments
Prioritized list of quantified risks
18. 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
Risk Categories
Project Files
Revised Cost Estimates
Project Quality Management
19. Generally used when considerations like technical approach and technical skills are paramount in source selection
Quality Policy
Group Creativity Techniques
Human Resource Practices
Proposal
20. The process in which the estimated costs of individual activities or work packages are aggregated to establish an authorized cost baseline.
Procurement resources
Resource Pool Descriptions
Tolerances vs. Control limits
Determine Budget
21. 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.
Additional Risk Response Planning
Risk Categories
Procurement Statements of Work (SOW)
Product Scope
22. 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
Templates
Brainstorming
Work Authorization System
Risk Register
23. Formal written notice from a person or organization responsible for contract administration - informing that the contract has been completed.
Performance Reviews
Product Scope
Estimate Activity Durations
Formal acceptance and closure
24. The process of confirming human resource availability and obtaining the team necessary to complete project assignments.
Requirements Management Plan
Team Building Activities
Sub Network / Fragment Network
Acquire Project Team
25. Includes identified risks - risk owners - results of Perform qualitative risk analysis process - agreed upon response strategies - etc.
Project Team Directory
Risk Register
Human Resource Practices
Administer procurements
26. Methods used to distribute information to team members and other stakeholders.
Avoidance
Information Distribution Methods
Identify Stakeholders
Report Performance
27. Factors which - for planning purposes - are considered to be true - real or certain.
Quality Metrics
Cost Management Plan
Control Schedule
Assumptions
28. Special category of revised cost estimates to an approved cost baseline.
Simulation
Prevention vs. Inspections
Earned Value Analysis
Technical performance measurement
29. 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.
Assumptions Analysis
Rework
Budget Updates
Indirect costs / Overhead costs
30. An uncertain event or condition that - if it occurs - has a positive or negative effect on the project objective.
Work Authorization System
Scope Statement
Coding Structure
Risk
31. Defines what kinds of competencies are required from what kind of individuals or groups and in what time frames.
Project Team Directory
Cost Performance Baseline
Staffing Pool Description
Staffing Requirements
32. It consists of tools and techniques used to gather - integrate and disseminate the outputs of project management processes. Supports all aspects of the project from initiating through closing - and can include both manual and automated systems.
Project Plan Updates
Project Management Information Systems (PMIS)
Sequence Activities
Performance Reviews
33. Involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work - plus a fee representing seller profit
Estimate Costs
Estimate Activity Durations
Cost-reimbursable contracts
Rework
34. 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.
Additional Risk Response Planning
Performance Reviews
Project Plan
Team Building Activities
35. Description of the product of the project - provides important information about any technical issues or concerns that would need to be considered during procurement planning
Cost-reimbursable contracts
Administer procurements
Assumptions Analysis
Product description
36. Defines the procedures by which project scope can be changed; includes paperwork - tracking systems and approval levels necessary for authorizing changes.
Scope Change Control System
Project Team Directory
Work Authorization System
Analogous Estimating (top-down)
37. Changing the project management plan to eliminate the threat entirely.
Avoidance
Project Integration Management
Project Procurement Management
Assumptions Analysis
38. 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
Control Costs
Sensitivity Analysis
Perform Quality Control
Configuration Management System
39. Allow for non-sequential activities (e.g. Loops or Conditional Branches); e.g. - GERT(Graphical Evaluation and Review Technique) and System Dynamics
Perform Quantitative Risk Analysis
Direct costs
Conditional Diagramming Methods
Constraints
40. Describes the processes required to ensure that the various elements of the project are properly coordinated. It includes developing the project plan - managing the execution of the project plan - monitoring & controlling work - integrating the chang
Project Integration Management
External Dependencies
Interviews
Plan Risk Responses
41. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.
Organization Chart
Lag
Resource Pool Descriptions
Grade
42. Any modification to the contents of the project plan or the supporting details.
Project Plan Updates
Project Schedule Network Diagrams
Project Scope
Free Float
43. A partially complete document in a predefined format that provides a defined structure for collecting - organizing - and presenting information and data.
Templates
Change Control System
Quality Audit
Code of Accounts
44. Describes how the procurement processes (from developing procurement documentation through contract closure) will be managed
Conditional Diagramming Methods
Additional Risk Response Planning
Procurement Management Plan
Develop Human Resource Plan
45. 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
Conduct Procurements
Project Stakeholders
Documentation Reviews
Bottom-up Estimating
46. Documentation resulting from project activities. These files may also maintain records of other projects that are detailed enough to aid in developing cost estimates.
Plan Quality
Collocation
Parametric Estimating
Communications Technology
47. 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
Stakeholder register
Analogous Estimating (top-down)
Project Procurement Management
Risk Categories
48. A hierarchically organized depiction of the project organization arranged so as to relate the work packages to the performing organizational units.
Organization Breakdown Structure
Forecasting
Project Procurement Management
Technical performance measurement
49. An accepted action performed to bring projected future project performance in line with the project plan. These actions have to be documented.
Estimate at Completion (EAC)
Templates
Corrective Action
Schedule Baseline
50. Involves procedures required to close a contract as specified in the prescribed procedures for close procurements. Includes product verification and administrative closure.
Project Assumption Testing
Constraints
Close procurements
Define Scope
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