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






2. Group of related projects managed in a coordinated way to obtain control and benefits that are not available if managed individually.






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






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






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






6. Incurred for the exclusive benefit of the project (e.g. - salaries of full-time project staff).






7. 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.






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






9. 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.






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. This involves calculating the theoretical early and late start and finish dates for all project activities without regard to any resource pool restrictions.






12. The amount of time that a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities.






13. 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.






14. 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






15. Documents the characteristics of the product - result - or service which the project is undertaken to create.






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






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






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






19. A formal or informal approach to obtain information from stakeholders by talking to them directly






20. 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






21. 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.






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






23. 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






24. Describes the processes required to ensure that the project satisfies the needs for which it is undertaken. It includes quality planning - performing quality assurance and control.






25. 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.






26. Also known as "job shadowing -" it is usually done externally by the observer viewing the user performing her job.






27. 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.






28. 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






29. Includes identified risks - risk owners - results of Perform qualitative risk analysis process - agreed upon response strategies - etc.






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






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






32. The state - quality - or sense of being restricted to a given course of action or inaction. An applicable restriction or limitation - either internal or external to a project - which will affect the performance of the project or a process.






33. Estimating or predicting future project status and progress based on knowledge and information available at the time of forecasting.






34. Describes how the procurement processes (from developing procurement documentation through contract closure) will be managed






35. The conclusion of a project phase is marked by a review of both key deliverables and project performance till date to determine if the project should continue into its next phase and detect and correct errors cost-effectively. These phase end reviews






36. 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.






37. 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.






38. 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






39. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.






40. Approved modifications to the project schedule that are used to manage the project






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






42. 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






43. An uncertain event or condition that - if it occurs - has a positive or negative effect on the project objective.






44. 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






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






46. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.






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






48. The process of confirming human resource availability and obtaining the team necessary to complete project assignments.






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






50. Complete set of indexed contract documentation - including the closed contract - that is prepared for inclusion with the final project files







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