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. A provision in the project management plan to mitigate cost and/or schedule risk. Often used with a modifier to provide further details on what types of risk are meant to be mitigated.






2. Process of redefining the cost performance/schedule/performance measurement/technical baseline. If cost variances are severe - re-baselining is needed to provide a realistic measure of performance.






3. 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.






4. 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.






5. Projects are frequently divided into better manageable components or subprojects. Subprojects are often contracted to an external enterprise or another functional unit in the performing organization.






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






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






8. The policies - guidelines - or procedures that govern the recruitment of staff.






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






10. A process of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests - expectations - and influence of the stakehold






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






12. 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






13. 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.






14. 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.






15. 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






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






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






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






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






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






21. Meetings held to assess project status and/or progress.






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






23. 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.






24. 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






25. 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






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






27. 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.






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






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






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






31. It includes the processes required to ensure timely and appropriate generation - collection - dissemination - storage - retrieval - and ultimate disposition of project information.






32. 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






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






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






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






36. A formal or informal approach to obtain information from stakeholders by talking to them directly






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






38. Process of monitoring the status of the project to update project progress and manage changes to the schedule baseline






39. Includes the processes that organize - manage - and lead the project team.






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






41. Used to identify project and product requirements; some of the techniques used are: Brainstorming - Nominal group technique - The Delphi technique - Idea/mind mapping - and Affinity diagram.






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






43. 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.






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






45. 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






46. Expectations The process of communicating and working with stakeholders to meet their needs and addressing issues as they occur. Project manager applies appropriate interpersonal skills to manage stakeholder expectations - for example - by building t






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






48. Estimating or predicting future project status and progress based on knowledge and information available at the time of forecasting.






49. A general management technique used to determine whether a particular work can be accomplished by the project team or must be purchased from outside sources.






50. Uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulation uses computer models and estimates of risk and are