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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. 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






2. Quantities to be performed for each specific category - and can be used to estimate activity durations






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






4. 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.






5. 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






6. 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.






7. Also known as "job shadowing -" it is usually done externally by the observer viewing the user performing her job.






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






9. 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.






10. Schematic displays of the logical relationships (dependencies) among the project schedule activities; always drawn from left to right to reflect project work chronology






11. Includes the processes that organize - manage - and lead the project team.






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






13. 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






14. Records of previous project results that can be used to identify risks.






15. 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.






16. A project is a temporary endeavor undertaken to create a unique product - service - or result






17. 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






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






19. 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






20. Involves immediate corrective or preventive action as a consequence of quality control measurements.






21. This compares technical accomplishments during project execution with the project management plan's schedule of technical achievement.






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






23. Deliverable- oriented grouping of project components that organizes and defines the total scope of the project - work not in the WBS is outside the scope of the project.






24. Focused sessions that bring key cross-functional stakeholders together to define product requirements






25. They possess a blend of functional and projectized characteristics. Weak matrices maintain many of the characteristics of a functional organization - and the Project Manager's role is more that of a coordinator or expediter than that of a manager. Si






26. Charts that are used to show positions and relationships in a graphical format.






27. 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.






28. 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.






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






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






31. 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






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






33. Involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work - plus a fee representing seller profit






34. Expectations The process of communicating and working with stakeholders to meet their needs and addressing issues as they occur. Project manager applies appropriate interpersonal skills to manage stakeholder expectations - for example - by building t






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






36. 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






37. This involves calculating the theoretical early and late start and finish dates for all project activities without regard to any resource pool restrictions.






38. A documented list of project team members - their project roles - and communication information.






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






40. 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.






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






42. 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.






43. 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.






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






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






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






47. 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.






48. Subdivision of project deliverables into smaller - more manageable components






49. Process of monitoring the status of the project to update project progress and manage changes to the schedule baseline






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







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