CAPM Review

Question 1

Application Areas

Answer 1

Areas of expertise, industry, or function where a project is centered. Examples include architecture, IT, health care, and manufacturing.

Question 2

Business Value

Answer 2

Quantifiable return on investment. Return can be tangible, such as equipment, money or market share. Can also be intangible, such as brand recognition, trademarks and reputation.

Question 3

Certified Associate in Project Management

Answer 3

Person who has slightly less PM experience than a PMP, but has qualified for an passed the CAPM examination.

Question 4

Cultural and Social Environment

Answer 4

Defines how a project affects people and how those people may affect the project. Includes economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.

Question 5

Deliverable

Answer 5

A product, service, or result created by a project. Projects can have multiple of these.

Question 6

General management skills

Answer 6

Includes the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, HR management, standards and regulations, and IT.

Question 7

International and Political Environment

Answer 7

Consideration of local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress

Question 8

Interpersonal Skills

Answer 8

Ability to interact, lead, motivate and manage people

Question 9

Iron Triangle of PM

Answer 9

Triangle with characteristics of time, cost and scope. Each constitute one side of triangle, if any side is not in balance with the others the project will suffer.

Question 10

Physical Environment

Answer 10

Physical structure and surroundings that affect a project’s work.

Question 11

Process Groups

Answer 11

Collection of related processes. There 5 of these and 49 PM processes. These consist of planning, executing, monitoring and controlling, and closing

Question 12

Program

Answer 12

Collection of related projects working in unison toward a common deliverable

Question 13

Progressive Elaboration

Answer 13

Process of gathering project details. Uses deductive reasoning, logic, and a series of information gathering techniques to identify details about a project, product or solution.

Question 14

Project

Answer 14

A temporary endeavor to create a unique product, service, or result.

Question 15

Project Benefits Management

Answer 15

Plan A document created and maintained by the project sponsor and the PM. This defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.

Question 16

Project Business Case

Answer 16

Created and maintained by the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. Typically created before the launch of the project and may be used as a go/ no go decision point.

Question 17

Project Environment

Answer 17

Location and culture of the environment where the project work will reside. This includes the social, economic, and environmentable variables the project must work with or around.

Question 18

Project Management Institute

Answer 18

An organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of PMs

Question 19

Project Life Cycle

Answer 19

The phases that make up a project. This is unique to the type of work being performed and is not universal to all projects.

Question 20

Project Management Office

Answer 20

Oversees all projects within an org or within a functional department. THis supports the PM through sofwtware, training, templates, policies, communication, dispute resolution, and other services

Question 21

Project Management Professional

Answer 21

A person who has proven project management experience and has passed the PMP exam

Question 22

Project portfolio management

Answer 22

Management and selection of projects that support an orgs vision and mission. It is the balance of project priority, risk, reward, and ROI. This is a senior management process

Question 23

Subprojects

Answer 23

A smaller project managed within a larger parent project. Often contracted work whose deliverable allows the larger project to progress.

Question 24

Triple Constraints of Project Management

Answer 24

This theory posits that time, cost and scope are 3 constraints to every project

Question 25

Work performance data

Answer 25

Raw data, observations, and measurements about project components. This is gathered and stored in the PMIS

Question 26

Work peformance information

Answer 26

The processed and analyzed data that will help the PM make project decisions

Question 27

Work performance reports

Answer 27

The formatted communication of work performance information. These communicate what’s happening in the project through status reports, memos, dashboards, or other modalities