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. 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






3. Process of formalizing acceptance of the completed project deliverables






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






5. 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






6. 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.






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






8. Process of defining how to conduct risk management activities for a project.






9. Includes the processes that help to estimate - budget - and control costs - so that the project can be completed within the approved budget.






10. The work that must be done to deliver a product with the specified features and functions






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






12. 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.






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






14. Specify lessons that can be learned from each and every project - even from projects which are failures. They need to be documented. Most companies prefer post-implementation meetings and case studies to document Lessons Learned






15. Action taken to bring a defective or nonconforming item into compliance with requirements or specifications. It is a frequent cause of project overruns in most application areas.






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






17. 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






18. 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






19. A calendar of working days and non- working days that determines those dates on which each specific resource is ideal or can be active; typically defines the resource specific holidays and resource availability periods; the calendars that specify whe






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






21. Group of related projects managed in a coordinated way to obtain control and benefits that are not available if managed individually.






22. Process of developing options and actions to enhance opportunities and to reduce threats to project objectives. Includes the identification and assignment of individuals to take responsibility for each agreed-to and funded risk response.






23. 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.






24. 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.






25. A modification of a logical relationship that allows an acceleration of the successor activity. A negative lead is equivalent to a positive lag.






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






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






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






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






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






31. 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






32. 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.






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






34. 1. Performed by people; 2. Constrained by limited resources; 3. Planned - excuted - monitored - and controlled; 4. Ultimate goal is to achieve organizational objectives or stratregic plans






35. The total amount of time that a schedule activity may be delayed from its early start without delaying the project finish date - or violating a schedule constraint. Calculated using the critical path method technique and determining the difference be






36. Requests to expand or reduce project scope - modify policies/ processes/plans/procedures/costs and - if approved - can affect budgets or revise schedules. These change requests are processed through the Perform Integrated Change Control process.






37. This involves calculating the theoretical early and late start and finish dates for all project activities without regard to any resource pool restrictions.






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






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






41. Describes the processes required to acquire goods and services from outside the project team. It includes planning procurements - conducting procurements - administering procurements - and closing procurements.






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






43. Provides a documented basis for making future project decisions and for confirming or developing common understanding of the project scope among the stakeholders






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






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






46. 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






47. A deliverable is a unique - tangible and verifiable work/product. Each project phase is marked by the completion of one or more deliverables.






48. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.






49. 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.






50. 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