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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.
  • 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. Describes how risk management will be structured and performed on the project.






2. A general data gathering and creativity technique that can be used to identify risks - ideas - or solutions to issues by using a group of team members or subject matter experts which data can be addressed later in Perform qualitative and quantitative






3. Involves immediate corrective or preventive action as a consequence of quality control measurements.






4. Risk Audits examine and document the effectiveness of risk responses in dealing with identified risks and their root causes - as well as the effectiveness of the risk management process.






5. Includes all those activities designed to enhance the competencies of the project team members. Training can be formal or informal.






6. Activities should have a coding structure to allow sorting and/or extractions based on different attributes assigned to the activities.






7. The process of making relevant information available to project stakeholders in a timely manner - as planned. Performed throughout the entire project life cycle and in all management processes.






8. A documented list of project team members - their project roles - and communication information.






9. 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.






10. 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.






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






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






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






14. Activities specifically taken by management and team members to help individual team members work together effectively - thereby improving team performance






15. 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.






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






17. A matrix that assigns risk ratings to risks or conditions based on a combining probability and impact scales. Risks with high probability and high impact will require further analysis.






18. Modifications to the cost estimation prepared for the project






19. 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






20. 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.






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






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






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






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






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






26. A subsequent phase of a project is sometimes begun prior to approval of the previous phase deliverables when the risks involved are deemed acceptable. This practice of overlapping phases is often called fast tracking






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






28. Outcome of activities performed to accomplish the project.






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






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






31. An estimating technique that uses parameters from a previous - similar project as the basis for estimating the same parameter/measure for a future project. Frequently used to estimate project duration when there is a limited amount of detailed inform






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






33. 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






34. 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.






35. Clarify the structure - requirements and other terms of the purchases so that mutual agreement can be reached prior to signing the contract.






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






37. Considers the characteristics of those prospective staff who are available to join the project team.






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






39. Processes and procedures developed for the closing or canceling of projects.






40. Records of previous project results that can be used to identify risks.






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. Documents how requirements will be analyzed - documented - and managed throughout the project






43. 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






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






46. Process of obtaining seller responses - selecting a seller - and awarding a contract






47. 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.






48. A group of documented procedure used to apply technical and administrative direction and surveillance to: a) Identify and document the system's functional and physical characteristics; b)Control any changes to such characteristics; c) Record and repo






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






50. 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







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