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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. 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.






2. 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






3. 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.






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






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






6. 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






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






8. 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






9. Also called risk symptoms or warning signs - they are indications that a risk has occurred or is about to occur. They may be discovered in the risk identification process and watched in the risk monitoring and control process.






10. 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






11. A requirement imposed by a governmental body and its compliance is mandatory.






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






13. 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






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






15. Involves setting a fixed total price for a defined product or service to be provided.






16. 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.






17. Project Simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives.






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






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






20. 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.






21. 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






22. 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.






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






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






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






26. 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






27. 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






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






29. 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






30. 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






31. 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.






32. Estimating or predicting future project status and progress based on knowledge and information available at the time of forecasting.






33. 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.






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






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






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






38. 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.






39. 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.






40. An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. Root cause may underlie more than one variance or defect or risk. Root cause analysis is done as part of corrective action - Helps ide






41. A schedule compression technique in which cost and schedule tradeoffs are analyzed to determine how to obtain the greatest amount of compression for the least incremental cost. Crashing only works for activities where additional resources will shorte






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






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






44. Clarify the structure - requirements and other terms of the purchases so that mutual agreement can be reached prior to signing the contract.






45. Outcome of activities performed to accomplish the project.






46. 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






47. 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






48. Technique to evaluate the degree to which data about risks is useful for risk management.






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. 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







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