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






2. 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






3. 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.






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






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






6. 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.






7. 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.






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






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. A structure that relates the project organizational breakdown structure to the work breakdown structure to help ensure that each component of the project's scope of work is assigned to a person or team. It illustrates the connections between work pac






11. Describes the processes required to ensure that the project includes only the essential work required to complete the project successfully. It includes collecting the requirements - defining the scope - verifying the scope and controlling the scope o






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






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






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. Seller is a subcontractor - vendor - or supplier - who will typically manage the work of the project. Buyer is the customer who has outsourced work to the seller.






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.






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






18. 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






19. Generally used when considerations like technical approach and technical skills are paramount in source selection






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






21. 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.






22. A general data gathering and creativity technique that can be used to identify risks - ideas - or solutions to issues by using a group of team members or subject matter experts which data can be addressed later in Perform qualitative and quantitative






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






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






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






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






27. Factors which - for planning purposes - are considered to be true - real or certain.






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






29. Technique that explores the validity of assumptions basing on which every identified project risk is conceived and developed. It identifies risks to the project from inaccuracy - instability - inconsistency - or incompleteness of assumptions.






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






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






32. 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.






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






34. 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.






35. Description of the product of the project - provides important information about any technical issues or concerns that would need to be considered during procurement planning






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






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






38. 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






39. Allow for non-sequential activities (e.g. Loops or Conditional Branches); e.g. - GERT(Graphical Evaluation and Review Technique) and System Dynamics






40. Describes the processes required to ensure that the various elements of the project are properly coordinated. It includes developing the project plan - managing the execution of the project plan - monitoring & controlling work - integrating the chang






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






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






43. A partially complete document in a predefined format that provides a defined structure for collecting - organizing - and presenting information and data.






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






45. 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






46. Documentation resulting from project activities. These files may also maintain records of other projects that are detailed enough to aid in developing cost estimates.






47. 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






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






49. An accepted action performed to bring projected future project performance in line with the project plan. These actions have to be documented.






50. Involves procedures required to close a contract as specified in the prescribed procedures for close procurements. Includes product verification and administrative closure.







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