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






2. 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.






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






4. 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






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






6. 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.






7. Outcome of activities performed to accomplish the project.






8. Factors which - for planning purposes - are considered to be true - real or certain.






9. Bring together prequalified stakeholders and subject matter experts to learn about their expectations and attitudes about a proposed product - service - or result






10. A documented tabulation of schedule activities that shows the activity description - activity identifier - and a sufficiently detailed scope of work description so project team members understand what work is to be performed.






11. Processes and procedures developed for the closing or canceling of projects.






12. 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.






13. An applicable restriction that will affect the performance of the project/process.






14. 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.






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






16. Diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.






17. A structured review of the seller's progress to deliver project scope and quality - within cost and on schedule - as compared to the contract.






18. 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






19. Formal and informal policies that are required for project plan development. Organizational policies include quality management - personnel administration and financial controls.






20. A partially complete document in a predefined format that provides a defined structure for collecting - organizing - and presenting information and data.






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






22. 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 -






23. 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






24. If the performing organization does not have a formal contracting group - then the project team will have to supply both the resources and expertise to support procurement activities






25. 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






26. 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.






27. Policies - guidelines and procedures that can help the project management team with various aspects of organizational planning.






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






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






30. A functional organization has a hierarchy in which every employee has one clear superior. Staff members are grouped by areas of specialization. Functional organizations may still have projects - but the perceived scope of the project is defined by th






31. 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.






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






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






34. Modifications to the cost estimation prepared for the project






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






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






37. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.






38. It is a tool and technique which is used to determine the information needs of the project stakeholders. This is a key component for planning the project's actual communications. It would assist in determining and limiting who will communicate with w






39. 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






40. A schedule compression technique in which phases or activities normally performed in sequence are performed in parallel. Fast tracking often results in rework and increased risk. Fast tracking only works if activities can be overlapped to shorten the






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






42. Includes identified risks - risk owners - results of Perform qualitative risk analysis process - agreed upon response strategies - etc.






43. Includes the processes required to purchase or acquire products - services - or results needed from outside the project team.






44. 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.






45. Document that formally authorizes a project. Provides project manager with the authority to apply organizational resources to project activities.






46. Technologies or methods to transfer information among project stakeholders.






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






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






49. 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






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






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