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






2. 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.






3. 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






4. Describes the extent to which a risk is known or understood. Measures extent of data available as well as reliability of data.






5. 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.






6. Probability that a risk will occur.






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






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






9. A -specific version of the schedule model used to compare actual results to the plan to determine if preventive or corrective action is needed to meet the project objectives.






10. 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






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






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






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






15. Seller is a subcontractor - vendor - or supplier - who will typically manage the work of the project. Buyer is the customer who has outsourced work to the seller.






16. 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.






17. Modifications to the cost estimation prepared for the project






18. Describes the processes required to ensure timely and appropriate generation - collection - dissemination and ultimate disposition of project information. It includes identifying stakeholders - planning communication - distributing information - mana






19. Costs allocated to the project by the performing organization as a cost of doing business (e.g. - salaries of corporate executives). Usually calculated as a percentage of direct costs.






20. Refers to the centralized management of one or more portfolios to achieve strategic business objectives. Portfolio management ensures that the portfolios are reviewed to ascertain that resources are allocated as per priority and the allocation is con






21. Risk Audits examine and document the effectiveness of risk responses in dealing with identified risks and their root causes - as well as the effectiveness of the risk management process.






22. 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.






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 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.






25. 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.






26. 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






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






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






29. Process of formalizing acceptance of the completed project deliverables






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






31. 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.






32. Used to rate or score seller proposals






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






34. 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.






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






36. 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






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






38. 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.






39. 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.






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






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






42. Projects are frequently divided into better manageable components or subprojects. Subprojects are often contracted to an external enterprise or another functional unit in the performing organization.






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






44. Outcome of activities performed to accomplish the project.






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






46. Process to monitor the status of the project to update the project budget and manage changes to the cost baseline.






47. A group of documented procedure used to apply technical and administrative direction and surveillance to: a) Identify and document the system's functional and physical characteristics; b)Control any changes to such characteristics; c) Record and repo






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






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






50. 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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests