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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.
  • 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 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.






2. 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






3. 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






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






5. Modifications to the cost estimation prepared for the project






6. Process of monitoring the status of the project and product scope and managing changes to the scope baseline.






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






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






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






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






11. 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.






12. Activities should have a coding structure to allow sorting and/or extractions based on different attributes assigned to the activities.






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






14. Repository that provides for collection - maintenance - and analysis of data gathered and used in the risk management process. Use of this database assists risk management throughout the organization and - over time - forms the basis of a risk lesson






15. A formal procedure for authorizing project work to ensure that work is done by the identified organization at the right time and in proper sequence.






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






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






18. Factors that will limit the project management team's options (e.g. - a predefined budget)






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






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






21. 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.






22. Formal written notice from a person or organization responsible for contract administration - informing that the contract has been completed.






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. Changing the project management plan to eliminate the threat entirely.






25. Any form of schedule network analysis in which scheduling decisions are driven by resource constraints.






26. They involve measuring value or attractiveness to the project owner. Includes considering the decision criteria and a means to calculate value under uncertainty.






27. 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






28. 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.






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






30. 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.






31. Involves developing a better understanding of the product of the project






32. Collection of generally sequential project phases.






33. A management control point where the resource plans - scope - schedule and actual cost are integrated and compared to earned value for performance measurement.






34. 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.






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






36. Allow for non-sequential activities (e.g. Loops or Conditional Branches); e.g. - GERT(Graphical Evaluation and Review Technique) and System Dynamics






37. It consists of tools and techniques used to gather - integrate and disseminate the outputs of project management processes. Supports all aspects of the project from initiating through closing - and can include both manual and automated systems.






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






39. 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






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






41. 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.






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






43. 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






44. 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






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






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






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






48. A structure that relates the project organizational breakdown structure to the work breakdown structure to help ensure that each component of the project's scope of work is assigned to a person or team. It illustrates the connections between work pac






49. It includes the processes required to ensure timely and appropriate generation - collection - dissemination - storage - retrieval - and ultimate disposition of project information.






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







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