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CAPM Prep > Questions based on core concepts > Flashcards

Questions based on core concepts Flashcards

1
Q

What is PV?

A

Planned value - planned work cost

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2
Q

What is EV?

A

Earned value - earned work cost

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3
Q

What is AC?

A

Actual cost thus far

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4
Q

What is BAC?

A

Budget at completion

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5
Q

When is BAC calculated?

A

At the beginning of a project

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6
Q

Was is EAC?

A

Estimated cost at completion

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7
Q

What is ETC

A

Estimated cost to complete

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8
Q

What is VAC?

A

Variance of cost at completion

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9
Q

What is the cost variance formula?

A

CV = EV - AC

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10
Q

What is the schedule variance formula?

A

SV = EV - PV

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11
Q

What is the CPI formula?

A

CPI = EV / AC

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12
Q

What is a good CPI?

A

CPI > 1 means under budget

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13
Q

What is the SPI formula?

A

SPI = EV / PV

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14
Q

What is a good SPI?

A

SPI > 1 means you are ahead of schedule.

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15
Q

Assuming the rate of spending will be the same now as it is in the future, what is the EAC formula?

A

EAC = BAC / CPI

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16
Q

Assuming from now on, the spending rate will be as it was planned in the beginning, what is the EAC formula?

A

EAC = AC + (BAC - EV)

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17
Q

Assuming from now on, future spending will be affected by both schedule and cost performances, what is the EAC formula?

A

EAC = AC + (BAC-EV)/(SPIxCPI)

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18
Q

Assuming you re-estimate the future cost from now until completion, what is the EAC formula?

A

EAC = AC + new estimation

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19
Q

If we want to complete the project with the cost equal to the budgeted cost, what formula should we use?

A

To complete performance index

TCPI = (BAC-EV) / (BAC - AC)

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20
Q

What is ETC?

A

Estimate to complete

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21
Q

What is the formula for ETC?

A

ETC = EAC - AC

22
Q

What is the variance at completion formula?

A

VAC = BAC - EAC

23
Q

What does it mean when an activity in a Gantt has a lead?

A

The work of the successor is accelerated. Example, starting the successor before the predecessor is completed.

24
Q

What does it mean when an activity in a Gantt has a lag?

A

Successor activity is delayed.

25
Q

What does it mean when a schedule is crashed?

A

Schedule is compressed. TMs are added, OT is added and items are expedited.

26
Q

What does it mean when a schedule is fast tracked?

A

Compression method that involves working activities in parallel.

27
Q

What is the total float formula?

A

Latest finish - earliest finish

28
Q

What is the critical path?

A

Sequence of activities that take the longest, which determines the shortest duration.

29
Q

What is float?

A

Measures days an activity may slip from and/or extend beyond planned dates, without overrunning the project completion date.

30
Q

What is MacGregors theory?

A

Motivational approach that describes different types of workers, X and Y.

31
Q

What are the stages of Tuchman’s Ladder?

A

Forming
Storming
Norming
Performing
Adjourning

32
Q

What is Parkinson’s Law

A

Work will expand to fill the time available.

33
Q

What are the con’s of Parkinson’s Law

A

May cause PM to dip into contingency reserves and lead to late start dates and schedule slippages.

34
Q

What is the burn rate formula?

A

AC/EV

35
Q

What is the EV formula?

A

% of project completed x budget

36
Q

What is on the top row of the critical path box? What is on the bottom?

A

Early Start - Duration - Early Finish

Late start - float - late finish

37
Q

What are the steps for creating a schedule?

A
  1. Decompose scope
  2. Sequence activities
  3. Estimate effort
  4. Allocate people
  5. Adjust as needed
38
Q

What is the PMs role in the procurement process?

A

Ensure project risks are understood.

39
Q

This Agile chart is a tool for empirical and value based measurements of project results

A

Burn down chart

40
Q

What are the four steps of elicitation?

A

Introduction, body, follow up and close.

41
Q

What is a timebox?

A

Duration for which an agile event must not exceed

42
Q

What are some examples of scope models?

A

Ecosystem map, context diagram, feature model, fishbone diagram, SWOT

43
Q

What are some examples of process models?

A

Process flow chart, use case and user story

44
Q

What are some examples of rule models?

A

Business rules catalog, decision tree and decision table

45
Q

What are some examples of data models?

A

Entity relationship diagram, data flow diagram, data dictionary, state table and state diagram.

46
Q

What are some examples of interface models?

A

Report model, system interface table, user interface flow, wireframes, display action response

47
Q

What are some prioritization techniques?

A

Ranking
MoSCoW
Kano Analysis
5 Why’s

48
Q

Types of prototypes

A

Wireframe
Low and high fidelity
Working
Evolutionary
Feasibility
Storyboard

49
Q

What are the conflict resolution models?

A

Confronting
Collaborating
Compromising
Smoothing/Accommodate
Forcing
Withdrawal/Avoiding

50
Q

What is the Hawthorne effect

A

very act of measuring something can influence the results being measured

51
Q

What are the three things a salience model measures

A

Power, urgency and legitimacy

CAPM Prep (10 decks)

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