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CAPM > 06.12.21 > Flashcards

06.12.21 Flashcards

Pass the CAPM Exam on June 12th

1
Q

What is a project?

A

Temporary endeavor with a beginning and end. It creates a unique product, service or result

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2
Q

Reasons for a project initiation

A

Market Demand, Social Need, Legal Requirement, Customer Request, Technological Advance

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3
Q

Example of a Project

A

Development of a software application that will receive, record & prioritize the incidents received by customers.

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4
Q

Operational Work

A

Most of the work being done in organizations which is ongoing & repetitive.

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5
Q

Example of an operational work

A

Handling customer incidents through a software application which are received daily.

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6
Q

What is Project Management?

A

Application of knowledge, skills, tools & techniques to project activities to meet the project requirements.

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7
Q

What are the process groups of Project Management?

A

Initiating, Planning, Executing, Monitoring & Controlling, Closes

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8
Q

Program is…?

A

Group of projects that are related to each other

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9
Q

Example of a program

A

Development of the entertainment system of a car with following projects: Connection Manager, Display Screen.. etc.

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10
Q

Portfolio is…

A

Group of programs which might not be related however serve for the same business goal.

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11
Q

Example of a Portfolio

A

A car manufacturer aims to produce three new car models in next three years to be the most convenient car manufacturer for women.

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12
Q

Project Management Office (PMO)

A

Department centralizes the management of projects in an organization.

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13
Q

What are the the three different type of PMO structures in organizations?

A

Supportive, Controlling & Directive

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14
Q

Project Manager can report to…

A

Functional Manager, Program Manager or Portfolio Manager

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15
Q

The most important interpersonal skill for a project manager is….

A

Communication

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16
Q

What are the three different types of PMO structures in organizations?

A

Supportive, Controlling and Directive

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17
Q

Project objectives are …

A

What needs to be achieved as a result of project.

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18
Q

Who is responsible for meeting project objectives?

A

Project Manager

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19
Q

There is a trade-off between

A

Project Requirements & Project Objectives

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20
Q

The most common project constraints are…

A

Time, Cost, Scope, Quality, Customer Satisfaction, Risk & Resources

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21
Q

Organizational Process Assets

A

Plans, Process, Policies, Procedures & Knowledge bases specific to & used by the performing organization.

22
Q

Enterprise Environmental Factors

A

Conditions that are not under the control of the project team, the influence, constrain or direct the project

23
Q

Examples of Environmental Factors

A
  • Organizational Culture, Structure, & Governance.
  • Government or Industry Standards
  • Political Climate
24
Q

Stakeholders

A

People whose interests may be positively or negatively impacted by the project

25
Q

Project Governance

A

Provides the project manager and team with structure, process, decision - making models and tools for managing a project.

26
Q

Project Team

A

Project Manager & the group of individuals who perform project work.

27
Q

What are the three common organizational structure types?

A

Functional, Projectized and Matrix

28
Q

The most common organizational structure type is…

A

Functional

29
Q

Which of the organizational structure types give the most control & authority to the project manager?

A

Projectized

30
Q

In which type of organization team members report to functional managers & project managers?

A

Matrix

31
Q

Project Expediter

A

Acts as staff assistant & communications coordinator. Cannot make any decision.

32
Q

Project Coordinator

A

Acts like project expediter however he/she can make some minor decisions.

33
Q

Advantages of Functional Organization

A
  • Team members report to only one supervisor

- Similar resources are centralized & managed easier

34
Q

Disadvantages of Functional Organization

A
  • No career path in project management.

- The project manager has little or no authority.

35
Q

Advantages of Projectized Organization

A
  • Efficient project organization Loyalty to the project.

- More effective communications than functional

36
Q

Disadvantages of Projectized Organization

A
  • Lack of professionalism in disciplines

- Less efficient us of resources

37
Q

Advantages of Matrix Organization

A
  • Highly project objectives

- Maximum utilization of scarce resources

38
Q

Disadvantages of Matrix Organization

A
  • Extra administration is required
  • More than one boss for project teams
  • More complex to monitor
39
Q

Product Life Cycle

A

Starts from conception of a new product to its withdrawal

40
Q

Development Lifecycles can be…

A

Predictive, iterative, Incremental, Adaptive or Hybrid

41
Q

Project Phases are…

A

Collection of related activities that will produce a meaningful deliverable.

42
Q

Phase Gates

A

Held at the end of a phase for review of business case, Project charter, plans etc.

43
Q

Business Documents include

A

Business Case & benefit management plan

44
Q

Who is accountable for preparing the business case document?

A

Project Sponsor

45
Q

Business Case covers…

A
  • Business Needs
  • Analysis of the situation
  • Recommendation
  • Evaluation
46
Q

Benefits Management Plan covers..

A
  • Strategic alignment
  • Timeframe for realizing benefits
  • Benefits owner
47
Q

Tailoring

A

Selecting appropriate tools, techniques, procedures, etc. to manage a project.

48
Q

Delphi Technique

A

a method of group decision-making and forecasting that involves successively collating the judgments of experts

49
Q

Salience Model

A

clarity in prominence and importance of the different stakeholders

50
Q

EAC

A 
EAC = AC + (BAC − EV)
EAC = BAC/CPI
EAC = AC + [(BAC − EV)/ (CPI * SPI)]
51
Q

Affinity Diagram

A

Business tool used to organize ideas and data.

52
Q

Number of communication channels is measured by

A

n(n-1)/2, where n represents the number of stakeholders

CAPM (1 decks)

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