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CAPM
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certifications
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capm
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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. Modifications to the cost estimation prepared for the project
Develop Schedule
Functional Organization
Revised Cost Estimates
Data Precision Ranking
2. 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
Attribute Sampling vs. Variables Sampling
Quality Assurance
Bottom-up Estimating
Determine Budget
3. 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.
Workaround plans
Staffing Pool Description
Triggers
Stakeholder Analysis
4. Any numbering system used to uniquely identify each component of the work breakdown structure.
Project Assumption Testing
Quality Policy
Flowcharts
Interviews
5. An organizational placement strategy where the project team members are physically located close to one another in order to improve communication - working relationships - and productivity.
Collocation
Quality Audit
Project Procurement Management
Project Selection Methods
6. Provide a structure that ensures a comprehensive process of systematically identifying risks to a consistent level of detail and contributes to the effectiveness and quality of the Identify Risks process. They include categories like technical - exte
Proposal
Project Management
Project Procurement Management
Risk Categories
7. Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.
Quality Metrics
Tolerances vs. Control limits
Develop Human Resource Plan
Scope Changes
8. Used to solicit proposals from prospective sellers
Procurement Documents
Matrix Organization
Status Review Meetings
Product Analysis
9. Used to rate or score seller proposals
Fast Tracking
Prioritized list of quantified risks
Close procurements
Source Selection Criteria
10. Changing the project management plan to eliminate the threat entirely.
Avoidance
Re-baselining
Verify Scope
Project Files
11. 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
Revised Cost Estimates
Fast Tracking
Risk Database
Resource Leveling
12. Records of previous project results that can be used to identify risks.
Performance Reviews
Resource Leveling
Perform Quantitative Risk Analysis
Project Files
13. 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
Benchmarking
System or Process
Scope baseline
Conduct Procurements
14. 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
Scope Management Plan
Rework
Plan Risk Management
Procurement resources
15. 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
Observations
Initiation
Design of Experiments (DOE)
Develop Human Resource Plan
16. 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.
Checklists
Activity List
Life Cycle Costing
Differences between Operations and Project
17. 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.
Scope Statement
Sensitivity Analysis
Sub Network / Fragment Network
Independent estimates
18. The expected cost needed to complete all the remaining work for a schedule activity - work break down structure component - or the project.
Cost-reimbursable contracts
Change Control System
Estimate to Complete (ETC)
Constraints
19. Involves developing a better understanding of the product of the project
Contract Change Control System
Technical performance measurement
Schedule updates
Product Analysis
20. Any form of schedule network analysis in which scheduling decisions are driven by resource constraints.
Root Cause Analysis
Contract Change Control System
Project Life Cycle
Resource Leveling
21. A method of obtaining early feedback on requirements by providing a working model of the expected product before actually building it.
Organizational Policies
Prototypes
Trend Analysis
Procurement Documents
22. 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
Proposal
Similarities between Operations and Projects
Work Breakdown Structure (WBS)
Flowcharts
23. Quantities to be performed for each specific category - and can be used to estimate activity durations
Proposals
Project Risk Management
Scope Change Control System
Quantitatively based durations
24. 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.
Constraints
Indirect costs / Overhead costs
External Dependencies
Requirements Management Plan
25. 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.
Direct costs
Bidder Conferences
Secondary Risks
Sensitivity Analysis
26. 1. Operations do not have any timelines. Projects are temporary and have finite time duration. 2. Operation's objective is usually to sustain the business. Project's objective is to achieve the target and close the project.
Avoidance
Observations
Project Scope
Differences between Operations and Project
27. Structured method to guide the project team during development of project plan. Standard forms and templates or even complicated simulations may be used.
Project Planning Methodology
Information Distribution Methods
Risk Consequences
Forecasting
28. Focused sessions that bring key cross-functional stakeholders together to define product requirements
Facilitated Workshops
Trend Analysis
Report Performance
Prioritized list of quantified risks
29. Risks that remain after planned responses have been implemented - as well as those that have been deliberately accepted.
Transference
Differences between Operations and Project
Residual Risks
Focus groups
30. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.
Product Scope
Acquire Project Team
Plan Risk Responses
Project Selection Methods
31. Process of numerically analyzing the effect of identified risks on overall project objectives.
Proposal
Determine Budget
To-Complete Performance Index (TCPI)
Perform Quantitative Risk Analysis
32. Formal written notice from a person or organization responsible for contract administration - informing that the contract has been completed.
Revised Cost Estimates
Scope Statement
Determine Budget
Formal acceptance and closure
33. Defines the procedures by which project scope can be changed; includes paperwork - tracking systems and approval levels necessary for authorizing changes.
Scope Change Control System
Indirect costs / Overhead costs
Project Quality Management
Communication Requirements Analysis
34. Describes how risk management will be structured and performed on the project.
Define Activities
Assumptions
Project Human Resource Management
Risk Management Plan
35. Process of changing the schedule baseline. It is done when schedule delays are very severe - and the project schedule has to be completely changed.
Change Requests
Re-baselining
Stakeholder Analysis
Projectized Organization
36. Activities specifically taken by management and team members to help individual team members work together effectively - thereby improving team performance
System or Process
Mandatory Dependencies (or Hard Logic)
Team Building Activities
Resource Pool Descriptions
37. It can include correspondence - memos - meeting minutes - and documents describing the project.
Communications management plan
Total Float
Project Records
Procurement Management Plan
38. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.
Estimate Costs
Sensitivity Analysis
Templates
Make-or-buy analysis
39. 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
Resource Leveling
Root Cause Analysis
Time and Material (T&M) Contracts
Make-or-buy analysis
40. 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
Project Quality Management
Initiation
Determine Budget
Cost Performance Baseline
41. 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
Focus groups
Revised Cost Estimates
Monitor and Control Risks
Analogous Estimating (top-down)
42. Probability that a risk will occur.
Risk probability
Team Development
Tolerances vs. Control limits
Cost Management Plan
43. Diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.
Decision Tree
Organizational Policies
Phase Exits/ Stage Gates/ Kill Points
Matrix Organization
44. Modifications to the cost estimation prepared for the project
Project Team Directory
Risk Audits
Stakeholder Analysis
Perform Quality Control
45. Any numbering system used to uniquely identify each component of the work breakdown structure.
Prototypes
Constraints
Quality Management Plan
Code of Accounts
46. Seeking to shift the consequences of the risk to a third party together with the ownership for the response.
Determine Budget
Prioritized list of quantified risks
Identify Stakeholders
Transference
47. Document that formally authorizes a project. Provides project manager with the authority to apply organizational resources to project activities.
Lessons Learned
Transference
Risk probability
Project Charter
48. An accepted action performed to bring projected future project performance in line with the project plan. These actions have to be documented.
Corrective Action
Simulation
Project Life Cycle
Change Requests
49. Involves immediate corrective or preventive action as a consequence of quality control measurements.
Analogous Estimating (top-down)
Process Adjustments
Pareto Diagram/ Chart
Benchmarking
50. Process of documenting project purchasing decisions - specifying the approach - and identifying potential sellers.
Scope baseline
Inspection
Plan Procurements
Graphical Evaluation and Review Technique (GERT)
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