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. Repository that provides for collection - maintenance - and analysis of data gathered and used in the risk management process. Use of this database assists risk management throughout the organization and - over time - forms the basis of a risk lesson






2. Reduce the probability and/or consequence of an adverse risk event to be within acceptable threshold limits.






3. 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.






4. Project team must measure itself periodically against the expectations of those outside the project.






5. Seeking to shift the consequences of the risk to a third party together with the ownership for the response.






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






7. 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






8. Factors that limit a buyer's options. E.g. - funds availability






9. Testing identified assumptions against two criteria: assumption stability and consequences on the project if the assumption is false.






10. Charts that are used to show positions and relationships in a graphical format.






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






12. Process of formalizing acceptance of the completed project deliverables






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






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






15. 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






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






17. Dependencies determined by the Project Management Team; involve a relationship between project activities and non-project activities (i.e. - dependencies on issues that are beyond the scope of the project). These dependencies are outside the project






18. Modifications to the cost estimation prepared for the project






19. Defines the procedures by which project scope can be changed; includes paperwork - tracking systems and approval levels necessary for authorizing changes.






20. Structured review of the procurement process originating from the Plan Procurements process through Administer Procurements process. Objective is to identify successes and failures that warrant recognition in the preparation or administration of othe






21. 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.






22. 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






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






24. Persons or organizations who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project. They may also exert influence over the project - its deliverables - and the






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






26. An uncertain event or condition that - if it occurs - has a positive or negative effect on the project objective.






27. 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






28. 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.






29. Describes the processes required to acquire goods and services from outside the project team. It includes planning procurements - conducting procurements - administering procurements - and closing procurements.






30. 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.






31. Features or services that characterize a product - result - or service






32. 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






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






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






35. Group of related projects managed in a coordinated way to obtain control and benefits that are not available if managed individually.






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






37. Allow for non-sequential activities (e.g. Loops or Conditional Branches); e.g. - GERT(Graphical Evaluation and Review Technique) and System Dynamics






38. 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.






39. 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






40. Meetings with all prospective sellers and buyers prior to submittal of a bid or proposal. Used to ensure that all prospective sellers have a clear and common understanding of the procurement - and that no bidders receive preferential treatment.






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






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






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






44. Also called risk symptoms or warning signs - they are indications that a risk has occurred or is about to occur. They may be discovered in the risk identification process and watched in the risk monitoring and control process.






45. 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.






46. 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.






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






48. A management control point where the resource plans - scope - schedule and actual cost are integrated and compared to earned value for performance measurement.






49. 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






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