Test your basic knowledge |

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. Process of formalizing acceptance of the completed project deliverables






2. Technique to evaluate the degree to which data about risks is useful for risk management.






3. 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.






4. 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






5. Process of defining and documenting stakeholders' needs to meet the project objectives






6. The document that describes the communication needs and expectations for the project; how and in what format information will be communicated; when and where each communication will be made; and who is responsible for providing each type of communica






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






8. Process of monitoring the status of the project to update project progress and manage changes to the schedule baseline






9. Features or services that characterize a product - result - or service






10. A structured review of the seller's progress to deliver project scope and quality - within cost and on schedule - as compared to the contract.






11. 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






12. A mathematical technique to forecast future outcomes based on historical results. This is performed using run charts.






13. 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.






14. 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






15. 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.






16. Determining which risks may affect the project and documenting their characteristics.






17. 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






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






19. Dependencies that are contractually required or those inherent in the nature of the work. Often involve physical limitations.






20. Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.






21. 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.






22. Subdivision of project deliverables into smaller - more manageable components






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






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






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.






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






27. Changing the project management plan to eliminate the threat entirely.






28. 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.






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






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






31. Bring together prequalified stakeholders and subject matter experts to learn about their expectations and attitudes about a proposed product - service - or result






32. 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






33. The process of analyzing activity sequences - durations - resource requirements - and schedule constrains to create the project schedule






34. 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.






35. Effect on project objectives if the risk event occurs.






36. 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.






37. An applicable restriction that will affect the performance of the project/process.






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






39. 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.






40. Special category of revised cost estimates to an approved cost baseline.






41. 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






42. Quantities to be performed for each specific category - and can be used to estimate activity durations






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






44. Used to rate or score seller proposals






45. 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.






46. A table that links requirements to their origin and traces them throughout the project life cycle






47. Any modification to the agreed upon project scope as defined by the approved WBS






48. 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






49. Defines the procedures by which project scope can be changed; includes paperwork - tracking systems and approval levels necessary for authorizing changes.






50. Methods used to distribute information to team members and other stakeholders.