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Test your basic knowledge |
CAPM
Start Test
Study First
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. An applicable restriction that will affect the performance of the project/process.
Procurement audits
Constraints
Documentation Reviews
Project Charter
2. 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.
Indirect costs / Overhead costs
Quality Management Plan
Trend Analysis
Subproject
3. Special category of revised cost estimates to an approved cost baseline.
Prevention vs. Inspections
Project Communications Management
Quality Management Plan
Quantitatively based durations
4. Specify lessons that can be learned from each and every project - even from projects which are failures. They need to be documented. Most companies prefer post-implementation meetings and case studies to document Lessons Learned
Lessons Learned
Scope Management Plan
Communications Technology
Project Management Information Systems (PMIS)
5. 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.
Performance Reviews
Change Requests
Documentation Reviews
Work Authorization System
6. Describes the processes concerned with identifying - analyzing - and responding to project risk. It includes planning risk management - identifying risks - performing qualitative risk analysis - performing quantitative risk analysis - planning risk r
Responsibility Assignment Matrix (RAM)
Project Risk Management
Source Selection Criteria
Subproject
7. A requirement imposed by a governmental body and its compliance is mandatory.
Performance Reports
Benchmarking
Regulation
Cost-reimbursable contracts
8. The expected cost needed to complete all the remaining work for a schedule activity - work break down structure component - or the project.
Scope Changes
Project Scope
Procurement negotiations
Estimate to Complete (ETC)
9. The process of identifying all people or organizations impacted by the project and documenting relevant information regarding their interests - involvement - and impact on project success.
Identify Stakeholders
Perform Quantitative Risk Analysis
Recruitment Practices
Rework
10. 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.
Rework
Project Quality Management
Inspection
Indirect costs / Overhead costs
11. Process of managing procurement relationships - monitoring contract performance - ad making changes and corrections as needed.
Control Charts
Collocation
Administer procurements
Tolerances vs. Control limits
12. The total amount of time that a schedule activity may be delayed from its early start without delaying the project finish date - or violating a schedule constraint. Calculated using the critical path method technique and determining the difference be
Quality Policy
Bidder Conferences
Total Float
Make-or-buy analysis
13. Any modification to the agreed upon project scope as defined by the approved WBS
Project Plan
Scope Changes
Determine Budget
Probability and impact matrix
14. 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.
Sub Network / Fragment Network
Quality
Attribute Sampling vs. Variables Sampling
Corrective Action
15. 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
Risk Audits
Free Float
Determine Budget
Parametric Estimating
16. Documents the characteristics of the product - result - or service which the project is undertaken to create.
Subproject
Proposals
Product Description
Decision Tree
17. Action taken to bring a defective or nonconforming item into compliance with requirements or specifications. It is a frequent cause of project overruns in most application areas.
Templates
Focus groups
Rework
Plan Risk Management
18. Defines the process by which the procurement can be modified. It includes paperwork - tracking systems - dispute resolution procedures - and approval levels necessary for authorizing changes.
Project Portfolio Management
Independent estimates
Project
Contract Change Control System
19. Involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work - plus a fee representing seller profit
Cost Performance Baseline
Cost-reimbursable contracts
Quality Audit
Lag
20. 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.
Free Float
Monitor and Control Risks
Simulation
Buyer-Seller relationship
21. If the performing organization does not have a formal contracting group - then the project team will have to supply both the resources and expertise to support procurement activities
Procurement resources
Acquire Project Team
Project Time Management
Initiation
22. Describes the processes required to ensure timely completion of the project. It includes defining activities - sequencing activities - estimating activity resources - estimating activity durations - developing the schedule - and controlling the sched
Project Team Directory
Work Authorization System
Product Analysis
Project Time Management
23. 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
Fast Tracking
Project Scope Management
Proposal
Probabilistic Analysis of the project
24. Reduce the probability and/or consequence of an adverse risk event to be within acceptable threshold limits.
Mitigation
Perform Qualitative Risk Analysis
Quality Management Plan
Control Scope
25. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.
Project Scope Management
Estimate Costs
Monitor and Control Risks
Probabilistic Analysis of the project
26. Process of numerically analyzing the effect of identified risks on overall project objectives.
Change Control System
Requirements Management Plan
Perform Quantitative Risk Analysis
Secondary Risks
27. Structured method to guide the project team during development of project plan. Standard forms and templates or even complicated simulations may be used.
Estimate to Complete (ETC)
Project Planning Methodology
Crashing
Scope Change Control System
28. Involves immediate corrective or preventive action as a consequence of quality control measurements.
Project Human Resource Management
Process Adjustments
Focus groups
Bidder Conferences
29. Systematic process of planning - identifying - analyzing - responding - and monitoring and controlling project risk. It increases the probability and impact of positive events - and decrease the probability and impact of negative events in the projec
Plan Risk Responses
Phase Exits/ Stage Gates/ Kill Points
Project Risk Management
Matrix Organization
30. Process of defining how to conduct risk management activities for a project.
Proposal
Plan Risk Management
Subproject
Project Integration Management
31. 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
Manage Stakeholder
Control Schedule
Regulation
Conditional Diagramming Methods
32. Bring together prequalified stakeholders and subject matter experts to learn about their expectations and attitudes about a proposed product - service - or result
Focus groups
Prevention vs. Inspections
Benchmarking
Project Plan Updates
33. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.
Project Risk Management
Estimate Costs
External Dependencies
Product Analysis
34. Formal and informal policies that are required for project plan development. Organizational policies include quality management - personnel administration and financial controls.
Project Records
Organizational Policies
Data Precision Ranking
Configuration Management System
35. 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
Functional Organization
Project Management
Projectized Organization
Project Planning Methodology
36. 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
Risk Database
Distribute Information
Corrective Action
Schedule Baseline
37. A -specific version of the schedule model used to compare actual results to the plan to determine if preventive or corrective action is needed to meet the project objectives.
Critical Path Method
Statistical Sampling
Distribute Information
Schedule Baseline
38. An uncertain event or condition that - if it occurs - has a positive or negative effect on the project objective.
Lessons Learned
Report Performance
Risk
Project Plan
39. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.
Probability and impact matrix
Simulation
Program Evaluation and Review Technique (PERT)
Process Adjustments
40. Meetings held to assess project status and/or progress.
Critical Path Methodology (CPM)
Performance Reviews
Design of Experiments (DOE)
Differences between Operations and Project
41. Technique to evaluate the degree to which data about risks is useful for risk management.
Independent estimates
Triggers
Data Precision Ranking
Forecasting
42. Used to solicit proposals from prospective sellers
Project Team Directory
Critical Path Methodology (CPM)
Define Activities
Procurement Documents
43. Process of monitoring the status of the project and product scope and managing changes to the scope baseline.
Project Team Directory
Cost Performance Baseline
Control Scope
Source Selection Criteria
44. Processes and procedures developed for the closing or canceling of projects.
Communications management plan
Product Scope
Decomposition
Project Closeout
45. For many procurement items - the procuring organization may elect to either prepare its own independent estimate - or have an estimate of costs prepared by an outside professional estimator - to serve as a benchmark on proposed responses.
External Feedback
Workaround plans
Time and Material (T&M) Contracts
Independent estimates
46. 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
Contingency - Buffer - Reserve
Design of Experiments (DOE)
Scope Changes
Residual Risks
47. 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.
Project Human Resource Management
Phase Exits/ Stage Gates/ Kill Points
Schedule Compression
Inspection
48. Describes the processes required to ensure that the project is completed within the approved budget. It includes estimating the cost - determining the budget - and controlling the costs.
Tolerances vs. Control limits
Facilitated Workshops
Transference
Project Cost Management
49. 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.
Buyer-Seller relationship
Estimate at Completion (EAC)
Benchmarking
Project Portfolio Management
50. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.
Analogous Estimating / Top-down
Project Planning Methodology
Project Closeout
Project Selection Methods