← CAPM Terms 2 Test
5 Written Questions
5 Matching Questions
- Mathematical Analysis
- Estimate Costs
- Control Account
- Procurement Statements of Work (SOW)
- a Changing the project management plan to eliminate the threat entirely.
- b A management control point where the resource plans, scope, schedule and actual cost are integrated and compared to earned value for performance measurement.
- c The process to develop an approximation (estimate) of the monetary resources needed to complete project activities.
- d This involves calculating the theoretical early and late start and finish dates for all project activities without regard to any resource pool restrictions.
- e Describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results.
5 Multiple Choice Questions
- It includes the processes required to ensure timely and appropriate generation, collection, dissemination, storage, retrieval, and ultimate disposition of project information.
- 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 identify the cause of variation, so that schedule recovery can be planned and executed for the activities defined later in the schedule.
- 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.
- 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.
- Measuring, examining and testing undertaken to determine whether results conform to requirements; also called reviews, product reviews, audits, and walkthroughs
5 True/False Questions
Project Quality Management → Describes the processes required to ensure that the project is completed within the approved budget. It includes estimating the cost, determining the budget, and controlling the costs.
Fixed- price contracts → 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.
Mandatory Dependencies (or Hard Logic) → Technique to evaluate the degree to which data about risks is useful for risk management.
Develop Human Resource Plan → 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
Make-or-buy analysis → Risks that remain after planned responses have been implemented, as well as those that have been deliberately accepted.