Test your basic knowledge |

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. 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.






2. 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.






3. 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.






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






5. Organize and summarize the information gathered - and present the results of any analysis as compared to the performance measurement baseline. Reports should provide status and progress of the project at the required level of detail.






6. Factors that - for planning purposes - will be considered true - real or certain.






7. 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.






8. 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.






9. 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






10. 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






11. A deliverable is a unique - tangible and verifiable work/product. Each project phase is marked by the completion of one or more deliverables.






12. Helps to determine which risks have the most potential impact on the project. Examines the extent to which the uncertainty of each project element affects the objective being examined when all the other uncertain elements are held at their baseline v






13. Process of formally authorizing a new project or the next phase of an existing project; links the project to the ongoing work of the performing organization






14. Charts/ 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 -






15. 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.






16. Technologies or methods to transfer information among project stakeholders.






17. 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






18. 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






19. Any form of schedule network analysis in which scheduling decisions are driven by resource constraints.






20. A documented tabulation of schedule activities that shows the activity description - activity identifier - and a sufficiently detailed scope of work description so project team members understand what work is to be performed.






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






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






23. 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






24. 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






25. 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.






26. 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






27. 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.






28. 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.






29. Probability that a risk will occur.






30. Defines what kinds of competencies are required from what kind of individuals or groups and in what time frames.






31. Process of identifying and documenting relationships among the project activities. Sequencing can be performed by using project management software or by using manual or automated techniques.






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






33. A formal procedure for authorizing project work to ensure that work is done by the identified organization at the right time and in proper sequence.






34. Modifications to the cost estimation prepared for the project






35. Formal and informal policies that are required for project plan development. Organizational policies include quality management - personnel administration and financial controls.






36. 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






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






38. 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






39. Process of assessing and combining the impact and the likelihood of identified risks. Prioritizes risks according to their potential effect on project objectives for further analysis or action.






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






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






42. 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






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






44. 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






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






46. Used to generate - classify - and prioritize product requirements. Some methods used to reach group decisions are: unanimity - majority - plurality - and dictatorship.






47. Integrates scope - cost (or resource) - and schedule measures to help the project management team assess project performance.






48. A hierarchically organized depiction of the project organization arranged so as to relate the work packages to the performing organizational units.






49. Process of identifying the specific actions to be performed to produce the project deliverables.






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