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. Process of formalizing acceptance of the completed project deliverables






2. An estimating technique that uses the values of parameters - such as scope - cost - budget - and duration or measure of scale such as size - weight - and complexity - from a previous - similar activity as the basis for estimating the same parameter o






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






4. Structured review of the project plans and assumptions - prior project files - contracts - and other information.






5. 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






6. If the performing organization does not have a formal contracting group - then the project team will have to supply both the resources and expertise to support procurement activities






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






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






9. For many procurement items - the procuring organization may elect to either prepare its own independent estimate - or have an estimate of costs prepared by an outside professional estimator - to serve as a benchmark on proposed responses.






10. Judgment provided based upon expertise in an application area - knowledge area - discipline - industry - etc. as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education - knowledg






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






12. A schedule compression technique in which phases or activities normally performed in sequence are performed in parallel. Fast tracking often results in rework and increased risk. Fast tracking only works if activities can be overlapped to shorten the






13. 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






14. The process of approximating the number of work periods needed to complete individual activities with estimated resources






15. Charts/ Judgment provided based upon expertise in an application area - knowledge area - discipline - industry - etc. as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education -






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






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






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






19. 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.






20. Application of knowledge - skills - tools - and techniques to project activities to meet the project requirements.






21. Risks that arise as a direct result of implementing a risk response.






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






23. 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.






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






25. Process of defining and documenting stakeholders' needs to meet the project objectives






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






27. 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






28. 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.






29. 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.






30. 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.






31. 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






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






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






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






35. 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.






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






37. 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.






38. Outcome of activities performed to accomplish the project.






39. Persons or organizations who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project. They may also exert influence over the project - its deliverables - and the






40. A method of obtaining early feedback on requirements by providing a working model of the expected product before actually building it.






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






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






43. Diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.






44. 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.






45. 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.






46. Responses to emerging risks that was previously unidentified or accepted. These were not planned in advance of the occurrence of the risk event.






47. 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.






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






49. Process of changing the schedule baseline. It is done when schedule delays are very severe - and the project schedule has to be completely changed.






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