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Subjects : certifications, capm
Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Process of managing procurement relationships - monitoring contract performance - ad making changes and corrections as needed.






2. 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.






3. 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






4. Modifications to the cost estimation prepared for the project






5. A collection of formal (note: not informal) documented procedures - which defines how the documentation and project deliverables will be managed - changed and approved.






6. 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






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






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






9. 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






10. 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.






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






12. 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






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






14. Diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.






15. Dependencies that are contractually required or those inherent in the nature of the work. Often involve physical limitations.






16. 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.






17. 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.






18. 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.






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






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






21. Structured review of the project plans and assumptions - prior project files - contracts - and other information.






22. 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.






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






24. Descriptions of which resources will be available at what times and in what patterns necessary for schedule development






25. Document that formally authorizes a project. Provides project manager with the authority to apply organizational resources to project activities.






26. A calendar of working days and non- working days that determines those dates on which each specific resource is ideal or can be active; typically defines the resource specific holidays and resource availability periods; the calendars that specify whe






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






28. 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.






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






30. Lists or files maintained with information on prospective sellers. These lists will generally have information on relevant past experience and other characteristics of the prospective sellers






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






32. 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.






33. It is a tool and technique which is used to determine the information needs of the project stakeholders. This is a key component for planning the project's actual communications. It would assist in determining and limiting who will communicate with w






34. List of risks includes those that pose the greatest threat or present the greatest opportunity to the project together with a measure of their impact.






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






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






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






38. 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






39. Collection of generally sequential project phases.






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






41. 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.






42. 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.






43. 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 - knowledg






44. An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. Root cause may underlie more than one variance or defect or risk. Root cause analysis is done as part of corrective action - Helps ide






45. Schematic displays of the logical relationships (dependencies) among the project schedule activities; always drawn from left to right to reflect project work chronology






46. Probability that a risk will occur.






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






48. Structured method to guide the project team during development of project plan. Standard forms and templates or even complicated simulations may be used.






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






50. 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.







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