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. The calculated projection of cost performance that must be achieved on the remaining work to meet a specified management goal - such as the budget at completion (BAC) or the estimate at completion (EAC). It is the ratio of 'remaining work' to the 'fu






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






3. 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.






4. A schedule compression technique in which phases or activities normally performed in sequence are performed in parallel. Fast tracking often results in rework and increased risk. Fast tracking only works if activities can be overlapped to shorten the






5. The document that sets out the format and establishes the activities and criteria for planning - structuring - and controlling the project costs. The cost management plan is contained in - or is a subsidiary plan of - the project management plan.






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






7. Process of identifying the specific actions to be performed to produce the project deliverables.






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






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






10. Responses to emerging risks that was previously unidentified or accepted. These were not planned in advance of the occurrence of the risk event.






11. 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






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






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. 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






15. 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






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






17. Approved modifications to the project schedule that are used to manage the project






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






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






20. 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






21. A modification of a logical relationship that allows an acceleration of the successor activity. A negative lead is equivalent to a positive lag.






22. A requirement imposed by a governmental body and its compliance is mandatory.






23. Terms used when the source selection decision will be based on price






24. Policies - guidelines and procedures that can help the project management team with various aspects of organizational planning.






25. The process in which the estimated costs of individual activities or work packages are aggregated to establish an authorized cost baseline.






26. A formal procedure for authorizing project work to ensure that work is done by the identified organization at the right time and in proper sequence.






27. 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.






28. A modification of a logical relationship that directs a delay in the successor activity.






29. Used to solicit proposals from prospective sellers






30. 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






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






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






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






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






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






36. 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






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






38. Process of estimating the type and quantities of resources like materials - people - equipment - or supplies required to perform each project activity






39. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.






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






41. Application of knowledge - skills - tools - and techniques to project activities to meet the project requirements.






42. Organize and summarize the information gathered - and present the results of any analysis as compared to the performance measurement baseline. Reports should provide status and progress of the project at the required level of detail.






43. Describes how individual requirements meet the business need for the project.






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






45. Involves setting a fixed total price for a defined product or service to be provided.






46. 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.






47. Technologies or methods to transfer information among project stakeholders.






48. 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.






49. 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






50. A subdivision (fragment) of a project schedule network diagram - used to illustrate or study some potential or proposed schedule condition - such as changes in preferential schedule logic or project scope.