CAPM Exam 196 Questions with Verified Answers
Cost Variance formula - CORRECT ANSWER Earned Value (EV) - Actual Cost (AC)
What are the 6
... [Show More] constraints? - CORRECT ANSWER Scope, Risk, Resources, Quality, Schedule, Budget
Initiating (Process Group) - CORRECT ANSWER Processes performed to define a new PROJECT or a new PHASE of an existing project
Planning (Process Group) - CORRECT ANSWER Processes performed to establish total scope of effort, define and refine objectives, and develop a course of action to attain the objectives
Executing (Process Group) - CORRECT ANSWER Processes performed to complete the work defined in the project management plan to satisfy objectives
Monitoring & Controlling (Process Group) - CORRECT ANSWER Processes to track, review, and orchestrate progress and performance of a project
How many processes are in EXECUTING? - CORRECT ANSWER 8
How many processes are in PLANNING? - CORRECT ANSWER 24
How many processes are in INITIATING? - CORRECT ANSWER 2
How many processes are in CLOSING? - CORRECT ANSWER 2
How many processes are in MONITORING & CONTROLLING? - CORRECT ANSWER 11
What are INPUTS? - CORRECT ANSWER Tools and Techniques you can use to DO the process
What are OUTPUTS? - CORRECT ANSWER One or more things you can GET as a RESULT of doing the process
How many processes are there? - CORRECT ANSWER 47
How many knowledge areas are there? - CORRECT ANSWER 10
What are the 10 knowledge areas? - CORRECT ANSWER Integration, Scope, Time, Cost, Quality, Human Resources, Communication, Risk, Procurement, Stakeholder
Closing (Process Group) - CORRECT ANSWER Processes to conclude all activities across all process groups of a project
Validate Scope: What process group? What knowledge area? - CORRECT ANSWER Monitoring & Controlling (PG)
Scope Management (KA)
Validate Scope: What Tools and Techniques? - CORRECT ANSWER Inspection
Group Decision Making
Develop Project Charter: What process group? What knowledge area? - CORRECT ANSWER Initiating (PG)
Integration Management (KA)
Develop Project Charter: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Facilitation Techniques
Create WBS: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Scope Management (KA)
Create WBS: What Tools and Techniques? - CORRECT ANSWER Decomposition
Expert Judgement
Plan Scope Management: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Scope Management (KA)
Plan Scope Management: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Meetings
Direct & Manage Project Work: What process group? What knowledge area? - CORRECT ANSWER Executing (PG)
Integration Management (KA)
Direct & Manage Project Work: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
PMIS
Meetings
Monitor & Control Project Work: What process group? What knowledge area? - CORRECT ANSWER Monitoring and Controlling (PG)
Integration Management (KA)
Monitor & Control Project Work: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analytical Techniques
PMIS
Meetings
Perform Integrated Change Control: What process group? What knowledge area? - CORRECT ANSWER Monitoring and Controlling (PG)
Integration Management (KA)
Perform Integrated Change Control: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Meetings
Change Control Tools
Close Project or Phase: What process group? What knowledge area? - CORRECT ANSWER Closing (PG)
Integration Management (KA)
Close Project or Phase: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analytical Techniques
Meetings
Define Scope: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Scope Management (KA)
Define Scope: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Product Analysis
Alternatives Generation
Facilitated Workshops
Collect Requirements: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Scope Management (KA)
Collect Requirements: What Tools and Techniques? - CORRECT ANSWER Interviews
Focus Groups
Facilitated Workshops
Group Creativity Techniques
Group Decision Making
Questionnaires and Surveys
Observations
Prototypes
Benchmarking
Context Diagrams
Document Analysis
Control Scope: What process group? What knowledge area? - CORRECT ANSWER Monitoring & Controlling (PG)
Scope Management (KA)
Control Scope: What is the ONLY Tool/Technique? - CORRECT ANSWER Variance Analysis
Develop Project Management Plan: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Integration Management (KA)
Develop Project Management Plan: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Facilitation Techniques
What is a Requirements Management Plan? - CORRECT ANSWER Plan that says HOW requirements will be analyzed, documented and recorded.
This is PART OF the Project Management Plan
Does NOT say what is in and out of scope
What is Variance Analysis? - CORRECT ANSWER A technique for determining CAUSE and DEGREE of difference between baseline and performance.
What is TOTAL FLOAT? - CORRECT ANSWER Amount of time an activity can be delayed without delaying the completion date
What is the formula for TOTAL FLOAT? - CORRECT ANSWER Late Start (LS) - Early Start (ES)
OR
Late Finish (LF) - Early Finish (EF)
Plan Schedule Management: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Plan Schedule Management: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analytical Techniques
Meetings
Define Activities: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Define Activities: What Tools and Techniques? - CORRECT ANSWER Decomposition
Rolling wave planning
Expert Judgement
Sequence Activities: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Sequence Activities: What Tools and Techniques? - CORRECT ANSWER Precedence Diagramming method (PDM)
Dependency Determination
Leads and Lags
Estimate Activity Duration: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Estimate Activity Duration: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analogous estimating
Parametric estimating
Three-point estimating
Group Decision making techniques
Reserve analysis
Develop Schedule: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Develop Schedule: What Tools and Techniques? - CORRECT ANSWER Schedule Network Analysis
Critical Path method
Critical Chain method
Resource Optimization techniques
Modeling techniqies
Leads and Lags
Schedule Compression
Scheduling tool
Control Schedule: What process group? What knowledge area? - CORRECT ANSWER Monitoring and Controlling (PG)
Time Management (KA)
Control Schedule: What Tools and Techniques? - CORRECT ANSWER Performance Reviews
PMIS
Resource Optimization techniques
Modeling techniqies
Leads and Lags
Schedule Compression
Scheduling tool
Estimate Activity Resources: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Time Management (KA)
Estimate Activity Resources: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Alternative Analysis
Published estimating data
Bottom Up Estimating
PMIS
Plan Cost Management: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Cost Management (KA)
Plan Cost Management: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analytical Techniques
Meetings
Estimate Costs: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Cost Management (KA)
Estimate Costs: What Tools and Techniques? - CORRECT ANSWER Expert Judgement
Analogous estimating
Parametric estimating
Bottom up estimating
Three-point estimating
Reserve analysis
Cost of quality
PMIS
Vendor Bid analysis
Group Decision making techniques
Determine Budget: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Cost Management (KA)
Determine Budget: What Tools and Techniques? - CORRECT ANSWER Cost aggregation
Reserve analysis
Expert Judgement
Historical relationships
Funding limit reconciliation
Control Costs: What process group? What knowledge area? - CORRECT ANSWER Monitoring and Controlling (PG)
Cost Management (KA)
Control Costs: What Tools and Techniques? - CORRECT ANSWER Earned Value Management (EVM)
Forecasting
To-complete Performance Index (TCPI)
Performance Reviews
PMIS
Reserve Analysis
What formally authorizes the existence of a project? - CORRECT ANSWER Project Charter
What is a central document that defines the basis of all project work? - CORRECT ANSWER Project Management Plan
Accepted deliverables are an input for what process? - CORRECT ANSWER Closure Project or Phase
What is the process of formalizing acceptance of the completed deliverables? - CORRECT ANSWER Validate Scope
What process has TWO plans as outputs? - CORRECT ANSWER Plan Scope Management:
Scope Management Plan and Requirements Management Plan
Does the Plan Scope Management process define scope? - CORRECT ANSWER NO
What is the process of subdividing project deliverables and project work into smaller, more manageable components called? - CORRECT ANSWER Create WBS
What is Schedule Performance Index (SPI)? - CORRECT ANSWER A measure of schedule efficiency expressed as the ratio of earned value to planned value.
Measures HOW EFFICIENTLY the team is managing time
Plan Quality Management: What Tools and Techniques? - CORRECT ANSWER Planning (PG)
Quality Management (KA)
Plan Quality Management: What process group? What knowledge area? - CORRECT ANSWER Cost-benefit Analysis
Cost of quality
Seven Basic Quality Tools
Benchmarking
Design of Experiments
Statistical Sampling
Additional Quality Planning Tools
Meetings
Perform Quality Assurance: What process group? What knowledge area? - CORRECT ANSWER Executing (PG)
Quality Management (KA)
Perform Quality Assurance: What Tools and Techniques? - CORRECT ANSWER Quality management and control tools
Quality audits
Process Analysis
Control Quality: What process group? What knowledge area? - CORRECT ANSWER Monitoring & Controlling (PG)
Quality Management (KA)
Control Quality: What Tools and Techniques? - CORRECT ANSWER Seven Basic Quality Tools
Statistical Sampling
Inspection
Approved Change Requests Review
Define Project Quality Management - CORRECT ANSWER The processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken
Is a low grade of quality a bad thing? What about low quality? - CORRECT ANSWER Low grade is not necessarily a problem. Low quality almost always is.
What is PRECISION? - CORRECT ANSWER A measure of exactness. Precise Measures are not always accurate. Accurate measures are not necessarily precise measurements.
What is ACCURACY? - CORRECT ANSWER An assessment of correctness. Precise Measures are not always accurate. Accurate measures are not necessarily precise measurements.
What is Cost of Quality (COQ)? - CORRECT ANSWER All costs incurred over the life of the product by investing on the success of the project and eliminating failures, waste.
What are the components of the scope baseline? - CORRECT ANSWER Project Scope Statement
Work Breakdown Structure
WBS Dictionary
What are the 5 primary benefits of meeting quality requirements? - CORRECT ANSWER Less rework
Higher productivity
Lower Costs
Increased Stakeholder Satisfaction
Increased Profitability
What is Cost of Conformance? - CORRECT ANSWER Money spend to AVOID failures
Prevention Costs (building a quality product)
Appraisal Costs (assessing quality)
What are the Costs of Nonconformance?? - CORRECT ANSWER Money spent to FIX failures
Internal Failure Costs (failures found by the project)
External Failure Costs (Failures found by customer)
What are the Seven Basic Quality Tools (7QC Tools)? - CORRECT ANSWER Cause & Effect Diagrams (fishbone diagrams)
Flowcharts (process maps)
Checksheets (tally sheets)
Pareto diagrams (vertical bar chart)
Histograms (bar chart to describe tendency)
Control Charts (upper/lower limits)
Scatter diagrams (correlation charts)
Plan Human Resources: What process group? What knowledge area? - CORRECT ANSWER Planning (PG)
Human Resources Management (KA)
Plan Human Resources: What Tools and Techniques? - CORRECT ANSWER Organizational charts and position descriptions
Networking
Organizational Theory
Expert Judgement
Meetings
Acquire Project Team: What process group? What knowledge area? - CORRECT ANSWER Executing (PG)
Human Resources Management (KA)
Acquire Project Team: What Tools and Techniques? - CORRECT ANSWER Pre-Assignment
Negotiation
Acquisition
Virtual teams
Multi-criteria decision analysis
Develop Project Team: What process group? What knowledge area? - CORRECT ANSWER Executing (PG)
Human Resources Management (KA)
Develop Project Team: What Tools and Techniques? - CORRECT ANSWER Interpersonal Skills
Training
Team-Building Activities
Ground Rules
Colocation
Recognition and rewards
personnel assessment tools
Manage Project Team: What process group? What knowledge area? - CORRECT ANSWER Executing (PG)
Human Resources Management (KA)
Manage Project Team: What Tools and Techniques? - CORRECT ANSWER Observation and conversation
Project performance appraisals
Conflict Management
Interpersonal Skills
Define QUALITY - CORRECT ANSWER Degree to which a product meets requirements
Define GRADE - CORRECT ANSWER Category for products having the same USE but different characteristics
What two elements are needed to achieve customer satisfaction? - CORRECT ANSWER Conformance to Requirements
Fitness for Use
Who owns quality at the task level? - CORRECT ANSWER The person DOING the task
Who owns quality at the project level? - CORRECT ANSWER The project manager
Who owns quality at the organizational level? - CORRECT ANSWER senior leadership
Who developed or created Fishbone Diagrams? - CORRECT ANSWER Ishikawa
What are used to estimate the cost of quality in a process in quality? - CORRECT ANSWER Flow charts
What do Pareto Diagrams SHOW? - CORRECT ANSWER What is most important out of multiple factors.The bars are listed in descending order so you can easily see this.
What do the BARS in Pareto Diagrams represent? - CORRECT ANSWER Most common source of defects
highest occurring type of defect
Most frequent reason for complaints
What is the rule of seven? - CORRECT ANSWER Seven or more consecutive points above or below the mean of a control chart
What do we use control charts for in Project Management? - CORRECT ANSWER Schedule variance
Cost variance
Rework is an example of what? - CORRECT ANSWER INTERNAL failure cost
A statistical method used to determine optimal conditions for producing the product is called? - CORRECT ANSWER Design of experiments
Quality of Control Measures are an input of what? - CORRECT ANSWER Perform Quality Assurance
Quality of Control Measures are an output of what? - CORRECT ANSWER Control Quality
What are the seven management and planning tools? - CORRECT ANSWER Affinity Diagrams
Process Decision Program Chart (PDPC)
Interrelationship Digraphs
Tree diagram
Matrix diagram
Activity Network Diagrams
Prioritization Matrix
Quality Audits
What are affinity diagrams used for? - CORRECT ANSWER To group similar ideas together. Often used for WBS
What are Process Decision Program Charts (PDPC) used for? - CORRECT ANSWER To help prepare contingency plans.
What do matrix diagrams show? - CORRECT ANSWER RELATIONSHIP between items - Absent vs present; strength of relationship; roles
What are ALWAYS tools and techniques and NEVER inputs and outputs? - CORRECT ANSWER AUDITS
What are ALWAYS inputs and outputs and NEVER tools and techniques? - CORRECT ANSWER Change Requests
What comes first: validate scope or control quality? - CORRECT ANSWER Control Quality
Who sets tolerances? - CORRECT ANSWER Customer
What sets control limits? - CORRECT ANSWER Process
What represents what the customer will accept? - CORRECT ANSWER Tolerances
What represents how well we control the process? - CORRECT ANSWER Control Limits
What do you INSPECT? - CORRECT ANSWER Deliverable
What do you AUDIT? - CORRECT ANSWER Process
What provides the framework for the schedule management plan? - CORRECT ANSWER Work Breakdown Structure (WBS)
What is rolling wave planning? - CORRECT ANSWER work is planned in waves - the work that needs to happen is planned in detail first, then plan the other information later. Progressive elaboration
What is the name of the technique used for constructing a schedule model in which activities are represented by nodes and graphically linked by logical relationships to show the sequence of activities? - CORRECT ANSWER Precedence Diagramming Method (PDM)
The following are types of?
Finish-to-Start (FS)
Finish-to-Finish (FF)
Start-to-Start (SS)
Start-to-Finish (SF) - CORRECT ANSWER Logical relationships or dependencies for precedence diagram method (PDM)
What is the most commonly used type of precedence relationship? - CORRECT ANSWER finish to start (FS)
What is another name for a discretionary dependency? - CORRECT ANSWER Preferred logic
The amount of time whereby a successor activity can be ADVANCED with respect to the predecessor activity - CORRECT ANSWER LEAD
The amount of time whereby a successor activity will be DELAYED with respect to a predecessor activity - CORRECT ANSWER LAG
What is analogous estimating? - CORRECT ANSWER a technique for estimating the duration or cost using historical data from similar activity or projects
What is parametric estimating? - CORRECT ANSWER a technique for estimating in which an algorithm is used to calculate cost or duration based on historical data and parameters
What is three-point estimating? - CORRECT ANSWER Program Evaluation and Review Technique (PERT) - uses three estimates to define an appropriate range for duration - most likely (tM), Optimistic (tO) and Pessimistic (tP)
What are the two types of distributions used for three-point estimating? - CORRECT ANSWER Triangular Distribution: tE = (tO + tM + tP) / 3
Beta Distribution: tE = (tO + 4tM + tP) / 6
A method used to estimate the minimum project duration and determine the amount of scheduling flexibility. Represents the longest path through a project. - CORRECT ANSWER Critical path method
What method adds duration buffers that are non-work schedule activities to manage uncertainty - CORRECT ANSWER Critical Chain Method
What does the scope baseline contain? - CORRECT ANSWER Scope Statement
WBS
WBS Dictionary
What is the most common type of simulation technique used to develop the schedule? - CORRECT ANSWER Monte Carlo Analysis
Organizational procedures links are established in what? - CORRECT ANSWER Cost Management Plan
The WBS component used for the project cost account is called what? - CORRECT ANSWER Control Account
Rules of performance management (i.e.: Earned Value Management EVM) are established in what process? - CORRECT ANSWER Cost Management Plan
Enterprise Environmental Factors for Estimating Costs are? - CORRECT ANSWER Market Conditions
Published Commercial information (i.e.: rates)
The budget within the cost baseline that is allocated for identified risks (known unknowns) are called what? - CORRECT ANSWER Contingency reserves
An amount in the budget withheld for management control purposes and for unforeseen work (unknown unknowns) are called what? - CORRECT ANSWER Management reserves
Does the use of management reserves require an approved change to the cost baseline? - CORRECT ANSWER YES
Does the use of contingency reserves require and approved change to the cost baseline? - CORRECT ANSWER No, it is part of the cost baseline.
____________ are quantitative assessments of the probable costs required to complete project work - CORRECT ANSWER Activity Cost Estimates
__________ is the supporting detail for cost estimates. - CORRECT ANSWER Basis of estimates
_______ is the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. - CORRECT ANSWER Determine Budget
_______ is the process of developing an approximation of the monetary resources needed to complete project activities - CORRECT ANSWER Estimate Costs
_______ is the process of establishing the policies, procedures, and documentation for planning, managing, expending and controlling project costs - CORRECT ANSWER Plan Cost Management
_______ is the process of monitoring the status of the project to update the project costs and managing changes to the cost baseline - CORRECT ANSWER Control Costs
Cost baseline is an output of what process? - CORRECT ANSWER Determine Budget
Activity Cost Estimates are an output of what process? - CORRECT ANSWER Estimate Costs
Cost estimates are aggregated in accordance to what? - CORRECT ANSWER WBS
the approved version of the time-phased project budget excluding management reserves is called __________ - CORRECT ANSWER Cost Baseline
Cost baseline + Management Reserves = ? - CORRECT ANSWER Project Budget (total funding)
What process provides the means to recognize cost variance in order to take corrective action and minimize risk? - CORRECT ANSWER Control Costs
A methodology that combines scope, schedule and resource measurements to assess project performance and progress is called? - CORRECT ANSWER Earned Value Management
EVM develops and monitors WHAT three key dimensions? - CORRECT ANSWER Planned Value
Earned Value
Actual Cost
Total Planned Value for a project is also referred to as? - CORRECT ANSWER Budget at Completion
The authorized budget assigned to scheduled work is called _____ - CORRECT ANSWER Planned Value (PV)
A measure of work performed in terms of the budget authorized for that work is called _______ - CORRECT ANSWER Earned Value (EV)
The realized cost incurred for work performed - CORRECT ANSWER Actual Cost (AC)
What is used to calculate the percent complete of a project? - CORRECT ANSWER Earned Value
Earned Value (EV) - Planned Value (PV) = ? - CORRECT ANSWER Schedule Variance (SV)
Earned Value (EV) - Actual Cost (AC) = ? - CORRECT ANSWER Cost Variance (CV)
_______ will ultimately equal zero at the end of a project. - CORRECT ANSWER Schedule Variance
The difference between budget at completion and actual amount spent - CORRECT ANSWER Cost Variance
Earned Value (EV) / Planned Value (PV) - CORRECT ANSWER Schedule Performance Index (SPI)
Less than 1.0 SPI means ____ - CORRECT ANSWER We are behind schedule
Greater than 1.0 SPI means _____ - CORRECT ANSWER We are ahead of schedule
What is the most critical EVM metric? - CORRECT ANSWER Cost Performance Index (CPI)
Earned Value (EV) / Actual Cost (AC) = ? - CORRECT ANSWER Cost Performance Index (CPI)
Less than 1.0 CPI means _____ - CORRECT ANSWER We are over the planned cost
Greater than 1.0 CPI means ____ - CORRECT ANSWER We are under the planned cost
If the budget at completion is not viable, the PM should forecast the _______ - CORRECT ANSWER Estimate at Completion (EAC)
Actual Costs + Estimate to Complete (ETC) = ? - CORRECT ANSWER Estimate at Completion (EAC)
TCPI stands for? - CORRECT ANSWER To-Complete Performance Index
Cost to finish outstanding work (BAC - EV) / Remaining budget (BAC - AC) = ? - CORRECT ANSWER TCPI
If the CPI is expected to be the same for the rest of the project, what EAC formula do you use? - CORRECT ANSWER EAC = BAC / CPI
If future work will be accomplished at the planned rate, what EAC formula do you use? - CORRECT ANSWER EAC = AC + BAC - EV
If the initial plan is no longer valid, what EAC formula do you use? - CORRECT ANSWER EAC = AC + Bottom-up ETC
If both the CPI and SPI influence remaining work, what EAC formula do you use? - CORRECT ANSWER EAC = AC + [(BAC-EV)/CPI*SPI)}
What is the formula for Estimate TO Completion ETC)? - CORRECT ANSWER ETC = EAC - AC
What is the formula for TCPI? - CORRECT ANSWER TCPI = (BAC-EV)/(BAC-AC)
Greater than 1.0 TCPI means? - CORRECT ANSWER Project is harder to complete
Less than 1.0 TCPI means? - CORRECT ANSWER Project is easier to complete
What is the formula for TCPI using current EAC? - CORRECT ANSWER TCPI = (BAC-EV)/(EAC-AC)
Work package cost estimates + Contingency reserve = ? - CORRECT ANSWER The value of the control accounts [Show Less]