Exam (elaborations)
CAPM EXAM - QUESTIONS AND ANSWERS
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- CERTIFIED ASSOCIATE IN PROJECT MANAGEMENT
CAPM EXAM - QUESTIONS AND ANSWERS
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CAPM EXAM - QUESTIONS AND ANSWERS5 process groups Correct Ans ➡ Initiating
Planning
Executing
Monitoring and Controlling
Closing
ten knowledge areas Correct Ans ➡ Integration
Scope
Time
Cost
Quality
HR
Communications
Risk
Procurement
Stakeholder management
total float formula Correct Ans ➡ total float = late finish - early finish
normal distribution Correct Ans ➡ bell curve - symmetrical distribution -
50% chance of falling below the mean and 50% chance of falling above the
mean (1sigma=68.27%. 2sigma = 95.45%. 3sigma= 99.73%)
triangular distribution Correct Ans ➡ when there are 3 possible values
w/ equal probability - distribution is a triangle. A= lowest value, B= highest
value, M = most likely value
beta distribution (PERT) Correct Ans ➡ triangular distribution w/ more
weight given to the most likely estimate (can be asymmetrical). O = optimistic
estimate, ML=most likely estimate, P=pessimistic estimate
mean for a beta distribution Correct Ans ➡ mean = (O + 4ML + P)/6
standard deviation for beta distribution Correct Ans ➡ standard
deviation = (P-O)/6
,statistical sums Correct Ans ➡ project mean is the sum of the means of
the individual tasks. project standard deviation is the square root of the
project variance
earned value management Correct Ans ➡ used to monitor the progress
of a project and is an analytical technique. uses 3 independent values - PV, AC,
EV
planned value (PV) Correct Ans ➡ the budget or the portion of the
approved cost estimate planned to be spent during a given period
actual cost (AC) Correct Ans ➡ the total of direct and indirect costs
incurred in accomplishing work during a given period
earned value (EV) Correct Ans ➡ the budget for the work accomplished
in a given period
cost variance (CV) Correct Ans ➡ CV = EV - AC
schedule variance (SV) Correct Ans ➡ SV = EV - PV
cost performance index (CPI) Correct Ans ➡ CPI = EV/AC
schedule performance index (SPI) Correct Ans ➡ SPI = EV/PV
positive CV indicates, negative CV indicates Correct Ans ➡ costs are
below budget, costs are overrun
positive SV indicates, negative SV indicates Correct Ans ➡ a project is
ahead of schedule, a project is behind schedule
CPI greater than 1.0 indicates Correct Ans ➡ costs are below budget
SPI greater than 1.0 indicates Correct Ans ➡ project is ahead of schedule
CPI less than 1.0 indicates Correct Ans ➡ costs are over budget
SPI less than 1.0 indicates Correct Ans ➡ a project is behind schedule
,estimate at completion (EAC) Correct Ans ➡ the amount we expect the
total project to cost on completion and as of the "data date" (time now)
new estimate technique for finding EAC Correct Ans ➡ EAC = AC/new
estimate for remaining work
new estimate is most applicable when: Correct Ans ➡ the actual
performance to date shows that the original estimates were fundamentally
flawed or when they are no longer accurate because of changes in conditions
relating to the project
original estimate technique for finding EAC Correct Ans ➡ EAC =
AC/(BAC - EV)
original estimate is most applicable when: Correct Ans ➡ actual
variances to date are seen as being the exception, and the expectations for the
future are that the original estimates are more reliable than the actual work
effort efficiency date
performance estimate low technique for finding EAC Correct Ans ➡ EAC
= AC + (BAC - EV)/CPI or EAC = BAC/CPI
performance estimate low formula is most applicable when: Correct Ans ➡
future variances are projected to approximate the same level as current
variances
performance estimate high technique for finding EAC Correct Ans ➡ EAC
= AC + (BAC - EV) / (CPI)(SPI)
performance estimate high formula is most applicable when: Correct Ans
➡ the project is over budget and the schedule impacts the work remaining to
be completed
BAC Correct Ans ➡ budget at completion. the total budgeted cost of all
approved activities
ETC Correct Ans ➡ estimate to complete - the estimate for completing
the remaining work for a scheduled activity
, ETC when past variances are considered to be atypical Correct Ans ➡
ETC = BAC - EV
ETC when prior variances are considered to be typical of future variances
Correct Ans ➡ ETC = (BAC - EV)/CPI
communications channels Correct Ans ➡ channels = (n(n-1))/2. n -
number of ppl
rule of seven Correct Ans ➡ if 7 or more observations occur in one
direction, or a run of 7 observations occurs either above or below the mean,
they should be investigated to determine if they have an assignable cause.
business value Correct Ans ➡ the entire value of a business - the total
sum of all tangible and intangible elements
colocation Correct Ans ➡ project team members are physically located
close to one another in order to improve communications, working relations,
and productivity
constraint Correct Ans ➡ a restriction or limitation that may force a
certain course of action or inaction
enterprise environmental factors Correct Ans ➡ external or internal
factors that can influence a project's success. includes controllable factors
such as the tools used in managing project within the org, or uncontrollable
factors that have to be considered by the project manager such as market
conditions or corporate culture
good practice Correct Ans ➡ a specific activity or application of a skill,
tool, or technique that has been proven to contribute positively to the
execution of a process
operations Correct Ans ➡ ongoing work performed by ppl, constrained
by resources, planned, executed, monitored, and controlled. unlike a project
bc they are repetitive
organizational process assets Correct Ans ➡ any formal or informal
processes, plans, policies, procedures, guidelines, and ongoing or historical
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