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 developing a detailed description of the project and product






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






3. 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






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






5. 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.






6. A provision in the project management plan to mitigate cost and/or schedule risk. Often used with a modifier to provide further details on what types of risk are meant to be mitigated.






7. Features or services that characterize a product - result - or service






8. Used to generate - classify - and prioritize product requirements. Some methods used to reach group decisions are: unanimity - majority - plurality - and dictatorship.






9. 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






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






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






12. 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






13. 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.






14. The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.






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






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






17. Approved modifications to the project schedule that are used to manage the project






18. 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.






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






20. Allows for probabilistic treatment of both network logic and activity duration estimates






21. 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.






22. The process of identifying all people or organizations impacted by the project and documenting relevant information regarding their interests - involvement - and impact on project success.






23. 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.






24. Determining which risks may affect the project and documenting their characteristics.






25. Calculates the theoretical early start and finish dates - and late start and finish dates - for all activities without regard to any resource limitations. This is done by performing a forward and backward pass analysis through the schedule network.






26. Any modification to the contents of the project plan or the supporting details.






27. Collection of generally sequential project phases.






28. Defines the process by which the procurement can be modified. It includes paperwork - tracking systems - dispute resolution procedures - and approval levels necessary for authorizing changes.






29. 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






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






31. Description of the product of the project - provides important information about any technical issues or concerns that would need to be considered during procurement planning






32. 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.






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






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






35. A table that links requirements to their origin and traces them throughout the project life cycle






36. The policies - guidelines - or procedures that govern the recruitment of staff.






37. Considers the characteristics of those prospective staff who are available to join the project team.






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






39. A collection of formal (note: not informal) documented procedures - which defines how the documentation and project deliverables will be managed - changed and approved.






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






41. 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.






42. 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






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






44. 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






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






46. Dependencies that are contractually required or those inherent in the nature of the work. Often involve physical limitations.






47. Process of estimating the type and quantities of resources like materials - people - equipment - or supplies required to perform each project activity






48. 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.






49. 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






50. The amount of time that a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities.