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






2. 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






3. This compares technical accomplishments during project execution with the project management plan's schedule of technical achievement.






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






5. 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.






6. 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.






7. Organize and summarize the information gathered - and present the results of any analysis as compared to the performance measurement baseline. Reports should provide status and progress of the project at the required level of detail.






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






9. 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






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






11. 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.






12. The process of determining project stakeholders' information needs and defining a communication approach.






13. 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






14. 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






15. 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






16. 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






17. 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






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






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






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






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






22. Deliverable- oriented grouping of project components that organizes and defines the total scope of the project - work not in the WBS is outside the scope of the project.






23. 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.






24. Describes the processes required to ensure that the project is completed within the approved budget. It includes estimating the cost - determining the budget - and controlling the costs.






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






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






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






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. 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.






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






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






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






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






34. 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






35. Integrates scope - cost (or resource) - and schedule measures to help the project management team assess project performance.






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. Process of formalizing acceptance of the completed project deliverables






38. Process of formally authorizing a new project or the next phase of an existing project; links the project to the ongoing work of the performing organization






39. 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.






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






41. 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






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






43. 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.






44. Collection of generally sequential project phases.






45. 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.






46. Seller prepared documents that describe the seller's ability and willingness to provide the requested product.






47. The process to identify and document project roles - responsibilities - and required skills - report relationships - and create a staffing management plan.






48. 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






49. 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.






50. 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