CAPM Exam Practice Questions
Project
- a temporary endeavor undertaken to create a unique product, service, or result - accomplish unique special objectives within a specified timeframe
Bottom-up Estimating
- adding up lower level activities to total - most accurate but most effort
Parametric Estimating
- algorithm based on historical data and parameters to estimate activity durations - take data from before and apply a common formula to estimate the new duration
Control Resources
- ensuring physical resources balance - wise and responsible resource usage
Control Quality
- ensuring that quality stays on track - compliance prior to production
Portfolio Management
- evaluates projects and programs for strategic value - prioritizes projects and programs based on ROI, weighing the costs of the resources required against the anticipated value that the projects and programs will deliver - success means completed projects and programs deliver or exceed their anticipated value proposition
Determine budget
- gathers costs to establish the authorized spend - sets the goal point for financial performance
Program
- group of related projects, subsidiary programs, and program activities - coordinated to achieve benefits that wouldn't be possible if done individually - a collection of related projects
Manage Communications
- implementing the communication strategy - ensuring the appropriate timing and distribution of communications
Control Schedule
- managing the schedule chaos - adjusting and assisting as necessary - knocking down roadblocks
Operations Management
- ongoing activities - "business as usual" - repetitive, permanent, semi-permanent - keep the ship running - day-to-day activities
Program Management
- oversees related projects - coordinates and schedules resources among all projects within the program to ensure all projects have what they need when they need it, even when multiple projects require the same resources - success means all projects within a portfolio are successfully executed
Perform Qualitative Risk Analysis
- prioritizing risk by probability - non-numeric method to prioritize risk
Portfolio
- projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives - a collection of related programs - a collection of related projects
Resource Leveling
- resource constraint is the priority - spreading out critical resources - start and finish dates are adjusted to balance critical resources being double booked - critical path may shift as a result of this exercise
Develop Team
- setting up teams for success - team dynamics and health
Analogous Estimating
- similar historical project data, adjusted for relative size and differences to estimate activity durations - less costly and less time consuming but less accurate
Resource Smoothing
- time constraint is the priority - adjust activities to supply of free resources - start and finish dates are adjusted only by float - critical path stays the same
Manage Quality
- translating quality requirements into action - breaking down quality factors
Three-Point Estimating
- using range data based off uncertainty and risk to estimate activity durations - consider three uncertainty points to estimate (most likely, optimistic, pessimistic)
Project Management
- works on a project level - manages resources only within the project - success means delivering projects on time, on budget, and to specification
Business need and a cost-benefit analysis
A business case usually contains the:
Network diagram
A high-priority construction project is already in the planning phase. The project team is developing a graphic representation of the logical relationships among the project schedule activities. What is being developed?
Product management can initiate programs or projects at any point in the product life cycle
A new project manager works closely with product managers on a daily basis. Product managers are continually brainstorming ideas for new products and services. What impact does the product manager's role have on the project manager?
Conflict Management
A project encountered several critical issues that all have the potential to impact the achievement of user story acceptance criteria. Which issue should the agile project manager address first as the priority?
Strong Matrix
A project manager works in an organization where project management is highly valued, and project managers have significant authority and resources dedicated to their projects. This project manager has full-time project team members who report directly to them, dedicated project budgets, and strong support from upper management. What type of organization is this project manager working in?
Balanced Matrix
A project manager works in an organization where there is a balance of power between functional managers and project managers. Project managers have moderate authority and resources, and they share power with functional managers. This project manager has a mix of full-time and part-time project team members, a moderate project budget, and support from both upper management and functional managers. What type of organization is this project manager working in?
Weak matrix
A project manager works in an organization where they share power with a functional manager. This project manager has reasonable authority, manages a part-time project team, serves full-time as a project manager, and has part-time administrative staff to help expedite the project. What type of organization is this project manager working in?
Business plan, product scope description, and strategic plan
A project statement of work typically contains:
Ask stakeholders to document what went well, what did not go well, and what can be improved
A project to add a new automated dispatching capability to support a delivery fleet ended this week. The firm's leadership was pleased with the overall results of the project. Several issues developed, resulting in temporary setbacks, but the team was resilient and responded well. This project was the first of many automation projects that the firm will undertake. What should this project team do to help future project managers?
Cost and schedule
An Agile project manager is considering how best to plan the launch of a new electronics product. What constraints will be fixed throughout the launch?
Project had many problems, and business need is being reevaluated and new project or business need defined
An organization completed strategic planning, and portfolio implementation is now underway. There are some projects that require entry into the initiation phase or process group. What are two reasons why a project should enter the initiating phase?
0.94
Cost Performance Index Example: Due to a recent price increase in the cost of electrical wire, costs have risen recently. You were able to get $1125 worth done, but it actually cost you $1200 to get it done.
-75
Cost Variance Example: Due to a recent price increase in the cost of electrical wire, costs have risen recently. You were able to get $1125 worth done, but it actually cost you $1200 to get it done.
1125
Earned Value example: As of today, you planned to have 1500 feet of electrical wire laid at $1 value per foot. However, due to some employees being sick only 75% of the work you had planned has been completed.
Knowledge, performance, and strong personal effectiveness
Effective project managers typically share three characteristics:
Risk exposure
Eliminating the functionality gaps in a new product is critical to the success of a project. There is a high degree of executive focus on this project. The project sponsor has requested a report showing a critical project's overall risk scores over the last three months. What concept is the sponsor concerned with?
Facilitated Workshop
Hitomi is bringing together a carefully selected group of stakeholders to collaborate, explore, and evaluate product requirements. This meeting will be structured and managed to determine how best to achieve several objectives. Which elicitation tool and technique is Hitmoi using?
Change ground rules and use regularly scheduled short meetings
It is important to tailor stakeholder engagement techniques to meet the needs of either an adaptive or predictive project. Which two methods are used to tailor stakeholder engagement techniques to an adaptive project?
give work vision, relationships key, influence activities, inspire & motivate, guide & enable, model behavior
Leadership involves (6)
give work direction, systems and structures key, direct activities, ensure policies are enforced, track progress
Management involves (5)
Develop an overall strategy
Meetings are an essential activity used to manage communication. Which meeting management action is most essential to ensure that time spent in meetings is both efficient and effective?
1500
Planned Value example: You know from previous projects and work that your team can add 100 feet per day at $1 value each foot installing electrical wire. How much value would you have planned in 3 weeks assuming a 5 day work week?
0.75
Schedule Performance Index Example: As of today, you would have expected $1500 worth of work to be completed. However, only $1125 worth has been done.
-375
Schedule Variance Example: As of today, you would have expected $1500 worth of work to be completed. However, only $1125 worth has been done.
Ask the team to evaluate the tool and determine if it can add value
The ABC product launch project was originally planned with a co-located development team. A flu epidemic necessitated using virtual tools for much of the current iteration. The Agile project manager discovered a new messaging tool that he believes will benefit the team. What is the best approach to sharing this tool?
Customer acceptance and transition planning
The LND Inc. project to renovate the seventh floor of an office complex to house an additional server farm and IT personnel to manage it ended successfully and without problems. In all likelihood, which two aspects of the project did the team successfully plan that enabled its successful completion?
Business goals and objectives and required capabilities and features
The product roadmap is dependent upon two key inputs, what are they?
Trigger
The project team completed the risk register and assigned capable risk owners to manage and monitor each risk. A risk owner has identified events that indicate a high-impact risk will occur. Which term best describes this indicator?
Schedule Management Plan
The project team has several questions before beginning project schedule planning. This project is a hybrid that will employ both predictive and adaptive techniques. They need to understand planned iteration lengths. They are also questioning required schedule reporting formats dictated by the organization and approved schedule models they can use. What should the project manager consider developing?
Planning Poker
The team has completed a review of two new user stories. There are differing opinions on how many story points should be assigned to each user story. The team has decided to use a method where each team members makes an anonymous prediction of the story points needed and then shares their logic after all members have shared their estimates. What is this method?
Complexity
The team is reviewing a number of new user stories to add to the product backlog to support the upcoming launch of a new product. The team is assigning story points to each user story. Which is the primary method for analyzing user stories and assigning story points/
1.25
To-Complete Performance Index Example: You are working on the project now and have earned $500,000 value so far with an actual cost of $600,000. Your original budget was expected to be $1,000,000. What will be your TCPI?
1,200,000
Trend Analysis - EAC Example: Due to a recent price increase in the cost of electrical wire, costs have rose mid-project. You are working on the project now and have earned $500,000 value so far with an actual cost of $600,000. Your original budget was expected to be $1,000,000. What will be your estimate at completion now?
600,000
Trend Analysis - ETC Example: Due to a price increase in the cost of electrical wire, costs have rose mid-project. You are working on the project now and have earned $500,000 value so far with an actual cost of $600,000. Your original budget was expected to be $1,000,000. What will be your estimate to complete now?
-10,000
Variance at Completion Example: You are given a total budget of $100,000 to complete all the wiring in an office building. Given the current cost rates that you have been experiencing, you estimate it will actually cost $110,000 to complete the project.
manage communications
What is done in the Project Communications Management executing process group? (1)
monitor communications
What is done in the Project Communications Management monitoring & controlling process group? (1)
plan communications management
What is done in the Project Communications Management planning process group? (1)
control costs
What is done in the Project Cost Management monitoring & controlling process group? (1)
plan cost management, estimate costs, and determine budget
What is done in the Project Cost Management planning process group? (3)
close project or phase
What is done in the Project Integration Management closing process group? (1)
direct & manage project work and manage project knowledge
What is done in the Project Integration Management executing process group? (2)
develop project charter
What is done in the Project Integration Management initiating process group? (1)
monitor & control project work and perform integrated change control
What is done in the Project Integration Management monitoring & controlling process group? (2)
develop project management plan
What is done in the Project Integration Management planning process group? (1)
conduct procurements
What is done in the Project Procurement Management executing process group? (1)
control procurements
What is done in the Project Procurement Management monitoring & controlling process group? (1)
plan procurement management
What is done in the Project Procurement Management planning process group? (1)
manage quality
What is done in the Project Quality Management executing process group? (1)
control quality
What is done in the Project Quality Management monitoring & controlling process group? (1)
plan quality management
What is done in the Project Quality Management planning process group? (1)
acquire resources, develop team, and manage team
What is done in the Project Resource Management executing process group? (3)
control resources
What is done in the Project Resource Management monitoring & controlling process group? (1)
plan resource management and estimate activity resources
What is done in the Project Resource Management planning process group? (2)
implement risk responses
What is done in the Project Risk Management executing process group? (1)
monitor risks
What is done in the Project Risk Management monitoring & controlling process group? (1)
plan risk management, identify risks, perform qualitative risk analysis, perform quantitative risk analysis, and plan risk responses
What is done in the Project Risk Management planning process group? (5)
plan schedule management, define activities, sequence activities, estimate activity durations, and develop schedule
What is done in the Project Schedule Management planning process group? (5)
validate scope and control scope
What is done in the Project Scope Management monitoring & controlling process group? (2)
plan scope management, collect requirements, define scope, and create WBS
What is done in the Project Scope Management planning process group? (4)
manage stakeholder engagement
What is done in the Project Stakeholder Management executing process group?
identify stakeholders
What is done in the Project Stakeholder Management initiating process group? (1)
monitor stakeholder engagement
What is done in the Project Stakeholder Management monitoring & controlling process group? (1)
plan stakeholder engagement
What is done in the Project Stakeholder Management planning process group? (1)
control schedule
What is done the Project Schedule Management monitoring & controlling process group? (1)
investment reason, go/no-go decision, high level objectives, goals of doing project, basis for future comparison
What is in the business case? (5)
technical project management, leadership, strategic and business management
What is part of the PMI Talent Triangle?
Ensure Return on Investment
What is the primary reason for taking the time to determine the minimum viable product for each iteration?
project "what, how, when", contract to do business, greater detailed plan, initial scope baseline, established authority
What is the project charter? (5)
scope, schedule resources
What makes up the iron triangle?
executing process group
What process group are communications managed?
planning process group
What process group are costs identified and the budget is created?
initiating process group
What process group are key stakeholders identified?
closing process group
What process group are lessons learned conducted?
monitoring & controlling process group
What process group are needed change control activities performed?
monitoring & controlling process group
What process group are project expenses controlled?
executing process group
What process group are project plans executed by following the scheduled activities?
executing process group
What process group are purchases/procurements made if needed?
planning process group
What process group are resources identified?
executing process group
What process group are resources made available?
monitoring & controlling process group
What process group are stakeholder needs controlled?
monitoring & controlling process group
What process group are status reports, metrics, and information created?
planning process group
What process group are the scope, requirements, schedule, cost, quality, resource, communications, risk, & procurement management plans and stakeholder engagement plan created?
closing process group
What process group has a finalized budget and allocated costs?
monitoring & controlling process group
What process group involves change control documents?
closing process group
What process group involves collecting final invoices?
monitoring & controlling process group
What process group involves creating issue logs?
monitoring & controlling process group
What process group involves plan adjustments and changes to plan documentation?
executing process group
What process group involves product documentation?
monitoring & controlling process group
What process group involves reporting project status?
closing process group
What process group involves storing documents?
executing process group
What process group involves updates to the project plan?
monitoring & controlling process group
What process group is project quality controlled?
monitoring & controlling process group
What process group is project risk controlled?
monitoring & controlling process group
What process group is scope monitored and controlled?
closing process group
What process group is the closeout report written?
initiating process group
What process group is the project charter developed?
planning process group
What process group is the project schedule created?
executing process group
What process group is the project team managed?
planning process group
What process group is the scope solidified?
initiating process group
What process group is the stakeholder register created?
executing process group
What process group quality control measurements performed?
Share the product backlog and share the product vision and goals
What should the Agile project manager share with the sponsor and other senior members of the organization?
quality
What's on the inside of the iron triangle?
Business Analyst
Which key role is responsible for developing a product roadmap?
Project Scope
a detailed description of a project or process to be delivered is called
Organizational Project Management & System for value delivery
a project can be part of a program, which, in turn, can be part of a portfolio, what are these interconnected structures known as?
Project Resource Management
aligning resources to a common goal
Validate scope
alignment and acceptance between scope and deliverables
Use case
an analysis model that describes a flow of actor and system interactions and boundaries
Sequence activities
arranging and reacting to activity relationships
Project Schedule Management
balance the schedule to meet the needs of the scope and resources
Facilitation
bring stakeholders with different perspectives and seek agreement without decision
Process Flow
business analysis tool/technique that visually shows steps taken by human users as they interact with a system or solution
Project Stakeholder Management
controlling and overseeing the activities regarding project stakeholders
Plan Communications Management
customizing a unique plan for communication
Mind Mapping
data representation tool that gives a hierarchical whole picture view or central concept
Affinity Diagrams
data representation tool that involves grouping by basic relationship with one another
Project Scope Management
define and control the area in which the project will operate
Identify Risks
determining which risks might happen and the details of each risk
Identity Stakeholders
determining who stakeholders are and what they need regularly
Plan Risk Response
developing options on how to reduce threats and maximize opportunities
Cost variance
earned value - actual cost
Schedule variance
earned value - planned value
Cost Performance Index
earned value / actual cost
Schedule Performance Index
earned value / planned value
Focus Groups
elicit options and requirements from a pre-selected stakeholder demographic
Interviews
elicit requirements or ideas from the experts
Control Procurements
ensuring that procurements are going smoothly and closing out contracts
Collect Requirements
establish stakeholder requirements for project success
Plan Quality Management
establishing the standard for quality
Estimate Activity Resources
estimating the recipe of resources needed for the project
Plan Resource Management
game plan for acquiring the right amount and right mix of resources for the project
Plan Cost Management
game plan on how costs will be handled
Plan Risk Management
gameplan on how to approach, plan, and execute risk within the project
Acquire Resources
gathering the right mix of resources
Brainstorming
getting people to share ideas on a topic and building upon those ideas
Conduct Procurements
going after the procurements that you had planned
Cost Management Plan
how costs will be managed and controlled
45
if you have 10 people in a team, how many channels are there?
6
if you have 4 people in a team, how many channels are there?
Estimate Activity Durations
individual activity work periods given estimated resources and assumptions
Control Scope
keeping change requests and requirements on course
Define activities
laying out steps for your plan of attack
Project Integration Management
making sure project elements work together
Monitor Communications
making sure stakeholder and project information are flowing properly
Quality
meeting requirements and expectations - low of this is never acceptable
Manage Team
optimizing team/project performance
Perform Quantitative Risk Analysis
prioritizing risk by detailed numerical analysis
Planning Process Group
process group that deals with creating, developing, and identifying
Executing Process Group
process group that deals with managing, acquiring, and producing
Initiating Process Group
process group that deals with starting or beginning the project
Monitoring & Controlling Process Group
process group that deals with validating, reviewing, and comparing
Iterative project
project that has high degree of change but low frequency of delivery
Incremental project
project that has low degree of change but high frequency of delivery
Implement Risk Response
putting risk response plan in action
Control Costs
reconciling and keeping your project costs on target with the baseline
Escalate:
risk response: gain authorization for additional contingency reserves
Mitigate
risk response: remove a troublesome vendor who has not provided quality deliverables
Accept
risk response: take no action to address a risk if it occurs based on its low impact rating
Develop Schedule
roll up all activities and durations into a project schedule
Plan Scope Management
sets policy on how requirements and outcomes are defined and managed
Plan Schedule Management
sets policy on how the project schedule will be managed throughout the project
Define Scope
setting the requirements for execution, verification, and delivery
Project Procurement Management
shopping and purchasing needed products, services, or results for your project
Plan Procurement Management
shopping list for acquiring products, services, or results outside of the team
Nominal Group Technique
solicit ideas or solutions and rank each by priority
Monitor Stakeholder Engagement
stakeholder relationship and engagement checkups
Regularly Engage
stakeholders with high power and high interest
Actively Consult
stakeholders with high power but low interest
Maintain interest
stakeholders with low power and low interest
Keep informed
stakeholders with low power but high interest
Grade
technical characteristics, features - low of this can be acceptable depending on customer demand
Return on Investment
the benefit of an investment divided by the cost of the investment, this is expressed as a percentage
Product Scope
the features and functions that characterize a product, service, or result
Project Management Plan
the primary source of information for the planning, execution, monitoring & controlling, and closing of the project is
Directive (Directing)
the type of project management office that has high control
Supportive or consultant
the type of project management office that has low control
Controlling (Support & Compliance)
the type of project management office that has medium control
Project Scope
the work performed to deliver a product, service, or result, with the specified features and functions
Leader
this is the person who "pulls"
Manager
this is the person who "pushes"
Business Analysis
this part of the project team focuses on requirements
Project Management
this part of the project team focuses on solution delivery
Cost-benefit analysis
this uses ratio analysis to determine the overall value of a project
Monitor Risk
tracking, monitoring, identifying, executing, and evaluating risk effectiveness
Manage Stakeholder Engagement
trying to keep all stakeholders happy
Responsibility Assignment Matrix
type of resource planning: cross references team members and tasks with the assigned work package
Resource Management Plan
type of resource planning: describes how resources are acquired, allocated, monitored, and controlled
RACI Chart
type of resource planning: designates the roles and responsibilities of designators to stakeholders at the project level
Resource Breakdown Structure
type of resource planning: hierarchical representation of resources by category and type
Organizational Breakdown Structure
type of resource planning: illustrates the relationship to project activities and the divisions or departments that will perform them
Estimate Costs
using the appropriate measuring tool to estimate costs for the work
Context Diagram
visual depiction of product scope shows a business system and how people and other systems interact
Work Packages
what is documented at the lowest level of the WBS?
(optimistic + (4)Most Likely + pessimistic) / 6
what is the three point beta estimating formula?
Iterative lifecycle
which lifecycle has few deliveries and frequent change?
Predictive lifecycle
which lifecycle has few deliveries and minimal change?
Agile lifecycle
which lifecycle has frequent deliveries and frequent change?
Incremental lifecycle
which lifecycle has frequent deliveries and minimal change?
