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. Uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulation uses computer models and estimates of risk and are






2. Describes how risk management will be structured and performed on the project.






3. Used to solicit proposals from prospective sellers






4. 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.






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






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. Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products - services - or results.






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






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






11. 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






12. A formal - approved document used to define how the project is executed - controlled and monitored. It can either be at a detailed or high level and may contain one or more subsidiary plans.






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






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






15. Describes the need - justification - requirements - and current boundaries for the project.






16. 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






17. 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






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






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






20. 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






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






22. Describes how individual requirements meet the business need for the project.






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






24. 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






25. Process of managing procurement relationships - monitoring contract performance - ad making changes and corrections as needed.






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






27. 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






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






29. 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.






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






31. Process of identifying and documenting relationships among the project activities. Sequencing can be performed by using project management software or by using manual or automated techniques.






32. A mathematical technique to forecast future outcomes based on historical results. This is performed using run charts.






33. The document that describes the communication needs and expectations for the project; how and in what format information will be communicated; when and where each communication will be made; and who is responsible for providing each type of communica






34. It shortens the project schedule without changing the project scope - in order to meet schedule constraints - imposed dates - or other schedule objectives. -. This technique includes crashing and fast tracking.






35. 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.






36. 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 -






37. 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.






38. A process of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests - expectations - and influence of the stakehold






39. 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.






40. Process of implementing risk response plans - tracking identified risks - monitoring residual risks - identifying new risks - and evaluating risk process effectiveness throughout the project.






41. Documents the characteristics of the product - result - or service which the project is undertaken to create.






42. 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.






43. The process of collecting and distributing performance information - including status reports - progress measurements - and forecasts to stakeholders.






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






45. 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.






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






47. In a projectized organization - most of the organization's resources are involved in project work - and Project Managers have a great deal of independence and authority.






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






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






50. 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.