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. 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.






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






3. Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products - services - or results.






4. 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






5. It is a tool and technique which is used to determine the information needs of the project stakeholders. This is a key component for planning the project's actual communications. It would assist in determining and limiting who will communicate with w






6. A provision in the project management plan to mitigate cost and/or schedule risk. Often used with a modifier to provide further details on what types of risk are meant to be mitigated.






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






8. Structured review of the procurement process originating from the Plan Procurements process through Administer Procurements process. Objective is to identify successes and failures that warrant recognition in the preparation or administration of othe






9. Terms used when the source selection decision will be based on price






10. Project team must measure itself periodically against the expectations of those outside the project.






11. The process of identifying all people or organizations impacted by the project and documenting relevant information regarding their interests - involvement - and impact on project success.






12. Testing identified assumptions against two criteria: assumption stability and consequences on the project if the assumption is false.






13. Process of documenting project purchasing decisions - specifying the approach - and identifying potential sellers.






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






15. 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






16. Document that formally authorizes a project. Provides project manager with the authority to apply organizational resources to project activities.






17. A project is a temporary endeavor undertaken to create a unique product - service - or result






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






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






20. Activities that assist in developing/enhancing the ability of team members to work together effectively and contribute to the success of the project team. It improves the people skills - technical competencies - and overall team environment and proje






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






22. Process of assessing and combining the impact and the likelihood of identified risks. Prioritizes risks according to their potential effect on project objectives for further analysis or action.






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






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






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






26. 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






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






28. 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






29. 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.






30. 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.






31. Mutually binding legal agreement that obligates the seller to provide the specified products - services - or results - and obligates the buyer to compensate the seller.






32. Describes the processes concerned with identifying - analyzing - and responding to project risk. It includes planning risk management - identifying risks - performing qualitative risk analysis - performing quantitative risk analysis - planning risk r






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






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






35. Process of developing a detailed description of the project and product






36. Structured method to guide the project team during development of project plan. Standard forms and templates or even complicated simulations may be used.






37. Measuring - examining and testing undertaken to determine whether results conform to requirements; also called reviews - product reviews - audits - and walkthroughs






38. Precedence Diagramming Method (PDM) includes four types of dependencies or relationships between activities: 1. Finish to Start; 2. Finish to Finish; 3. Start to Finish; 4. Start to Start






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






40. Expectations The process of communicating and working with stakeholders to meet their needs and addressing issues as they occur. Project manager applies appropriate interpersonal skills to manage stakeholder expectations - for example - by building t






41. 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






42. A technique for estimating that applies a weighted average of optimistic - pessimistic - and most likely estimates when there is uncertainty with the individual activity estimates.






43. Describes the processes required to ensure timely completion of the project. It includes defining activities - sequencing activities - estimating activity resources - estimating activity durations - developing the schedule - and controlling the sched






44. Process of numerically analyzing the effect of identified risks on overall project objectives.






45. 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.






46. Describes how risk management will be structured and performed on the project.






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






48. 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.






49. 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.






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