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. 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






2. A schedule network analysis technique used to determine the amount of scheduling flexibility on various logical network paths in the project schedule network - and to determine the minimum total project duration. Early start and finish dates are calc






3. 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.






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






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






6. Used to solicit proposals from prospective sellers






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. 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.






9. Dependencies determined by the Project Management Team; involve a relationship between project activities and non-project activities (i.e. - dependencies on issues that are beyond the scope of the project). These dependencies are outside the project






10. Describes the need - justification - requirements - and current boundaries for the project.






11. 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






12. 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






13. Describes the extent to which a risk is known or understood. Measures extent of data available as well as reliability of data.






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






15. A subdivision (fragment) of a project schedule network diagram - used to illustrate or study some potential or proposed schedule condition - such as changes in preferential schedule logic or project scope.






16. 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






17. This is done to take care of risks that were not identified in the risk response plan - or their impact on objectives is greater than expected.






18. Includes the processes required to purchase or acquire products - services - or results needed from outside the project team.






19. 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






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






21. 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.






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






23. Outcome of activities performed to accomplish the project.






24. Process of monitoring the status of the project and product scope and managing changes to the scope baseline.






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






26. A process of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests - expectations - and influence of the stakehold






27. Risks that remain after planned responses have been implemented - as well as those that have been deliberately accepted.






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






29. Meetings that are regularly scheduled to exchange and analyze information about the project and its performance.






30. 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.






31. 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






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






33. 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.






34. 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






35. Process to monitor the status of the project to update the project budget and manage changes to the cost baseline.






36. Any modification to the contents of the project plan or the supporting details.






37. 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.






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






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






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






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






42. 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.






43. 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






44. A management control point where the resource plans - scope - schedule and actual cost are integrated and compared to earned value for performance measurement.






45. Project team accepts the risk - i.e. team decides not to change the project plan to deal with the risk - or is unable to identify any other suitable response strategy.






46. 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






47. The document that sets out the format and establishes the activities and criteria for planning - structuring - and controlling the project costs. The cost management plan is contained in - or is a subsidiary plan of - the project management plan.






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






49. The calculated projection of cost performance that must be achieved on the remaining work to meet a specified management goal - such as the budget at completion (BAC) or the estimate at completion (EAC). It is the ratio of 'remaining work' to the 'fu






50. 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.







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests