CAPM
5 process groups -correct answer-Initiating
Planning
Executing
Monitoring and Controlling
Closing
ten knowledge areas -correct answer-Integration
Scope
Time
Cost
Quality
HR
Communications
Risk
Procurement
Stakeholder management
total float formula -correct answer-total float = late finish - early finish
normal distribution -correct answer-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 answer-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 answer-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 answer-mean = (O + 4ML + P)/6
standard deviation for beta distribution -correct answer-standard deviation = (P-O)/6
statistical sums -correct answer-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 answer-used to monitor the progress of a project and is
an analytical technique. uses 3 independent values - PV, AC, EV
planned value (PV) -correct answer-the budget or the portion of the approved cost estimate
planned to be spent during a given period
actual cost (AC) -correct answer-the total of direct and indirect costs incurred in
accomplishing work during a given period
earned value (EV) -correct answer-the budget for the work accomplished in a given period
cost variance (CV) -correct answer-CV = EV - AC
schedule variance (SV) -correct answer-SV = EV - PV
cost performance index (CPI) -correct answer-CPI = EV/AC
schedule performance index (SPI) -correct answer-SPI = EV/PV
positive CV indicates, negative CV indicates -correct answer-costs are below budget, costs
are overrun
positive SV indicates, negative SV indicates -correct answer-a project is ahead of schedule, a
project is behind schedule
CPI greater than 1.0 indicates -correct answer-costs are below budget
SPI greater than 1.0 indicates -correct answer-project is ahead of schedule
CPI less than 1.0 indicates -correct answer-costs are over budget
SPI less than 1.0 indicates -correct answer-a project is behind schedule
estimate at completion (EAC) -correct answer-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 answer-EAC = AC/new estimate for
remaining work
new estimate is most applicable when: -correct answer-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 answer-EAC = AC/(BAC - EV)
original estimate is most applicable when: -correct answer-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 answer-EAC = AC + (BAC -
EV)/CPI or EAC = BAC/CPI
,performance estimate low formula is most applicable when: -correct answer-future
variances are projected to approximate the same level as current variances
performance estimate high technique for finding EAC -correct answer-EAC = AC + (BAC - EV)
/ (CPI)(SPI)
performance estimate high formula is most applicable when: -correct answer-the project is
over budget and the schedule impacts the work remaining to be completed
BAC -correct answer-budget at completion. the total budgeted cost of all approved activities
ETC -correct answer-estimate to complete - the estimate for completing the remaining work
for a scheduled activity
ETC when past variances are considered to be atypical -correct answer-ETC = BAC - EV
ETC when prior variances are considered to be typical of future variances -correct answer-
ETC = (BAC - EV)/CPI
communications channels -correct answer-channels = (n(n-1))/2. n - number of ppl
rule of seven -correct answer-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 answer-the entire value of a business - the total sum of all tangible
and intangible elements
colocation -correct answer-project team members are physically located close to one
another in order to improve communications, working relations, and productivity
constraint -correct answer-a restriction or limitation that may force a certain course of action
or inaction
enterprise environmental factors -correct answer-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 answer-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 answer-ongoing work performed by ppl, constrained by resources,
planned, executed, monitored, and controlled. unlike a project bc they are repetitive
organizational process assets -correct answer-any formal or informal processes, plans,
policies, procedures, guidelines, and ongoing or historical project info such as lessons
learned, measurement data, project files, and estimates vs actuals
, portfolio -correct answer-a collection of programs, projects, and additional work managed
together to facilitate the attainment of strategic business goals
product life cycle -correct answer-the collection of stages that make up the life of a product.
these stages are typically introduction, growth, maturity, and retirement
program -correct answer-a group of related projects managed in a coordinated way
progressive elaboration -correct answer-the iterative process of increasing the level of detail
in a project management plan as greater amounts of information and more accurate
estimates become available
project -correct answer-work performed by ppl, constrained by resources, planned,
executed, monitored and controlled. has a definite beginning and end and creates a unique
outcome
project life cycle -correct answer-the name given to the collection of various phases that
make up a project - make the project easier to control and integrate
project management -correct answer-the ability to meet project requirements by using
various knowledge, skills, tools, and techniques to accomplish project work
project management info system -correct answer-collection of tools, methodologies,
techniques, standards, and resources used to manage a project
stakeholder -correct answer-an individual, group, or organization who may affect by, or
perceive itself to be affected by a decision, activity, or outcome of a project
standard -correct answer-a document that describes rules, guidelines, methods, processes,
and practices that can be used to enhance the chances of success
subproject -correct answer-a component of a project
program management -correct answer-the act of managing a group of related projects in a
coordinated way
project management office (PMO) -correct answer-an additional layer of organization
dedicated to helping project managers
project managers roles -correct answer-focus on the immediate needs of the project, control
the project management team and participants, control scope, schedule, cost, and quality
trade-offs
PMO manager roles -correct answer-review program scope changes for opps and risks,
attempt to maximize/optimize/satisfy shared resources, manage overall risk, opportunities,
and interdependencies of all projects at their level of the enterprise
project management knowledge competency -correct answer-what project managers know
5 process groups -correct answer-Initiating
Planning
Executing
Monitoring and Controlling
Closing
ten knowledge areas -correct answer-Integration
Scope
Time
Cost
Quality
HR
Communications
Risk
Procurement
Stakeholder management
total float formula -correct answer-total float = late finish - early finish
normal distribution -correct answer-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 answer-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 answer-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 answer-mean = (O + 4ML + P)/6
standard deviation for beta distribution -correct answer-standard deviation = (P-O)/6
statistical sums -correct answer-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 answer-used to monitor the progress of a project and is
an analytical technique. uses 3 independent values - PV, AC, EV
planned value (PV) -correct answer-the budget or the portion of the approved cost estimate
planned to be spent during a given period
actual cost (AC) -correct answer-the total of direct and indirect costs incurred in
accomplishing work during a given period
earned value (EV) -correct answer-the budget for the work accomplished in a given period
cost variance (CV) -correct answer-CV = EV - AC
schedule variance (SV) -correct answer-SV = EV - PV
cost performance index (CPI) -correct answer-CPI = EV/AC
schedule performance index (SPI) -correct answer-SPI = EV/PV
positive CV indicates, negative CV indicates -correct answer-costs are below budget, costs
are overrun
positive SV indicates, negative SV indicates -correct answer-a project is ahead of schedule, a
project is behind schedule
CPI greater than 1.0 indicates -correct answer-costs are below budget
SPI greater than 1.0 indicates -correct answer-project is ahead of schedule
CPI less than 1.0 indicates -correct answer-costs are over budget
SPI less than 1.0 indicates -correct answer-a project is behind schedule
estimate at completion (EAC) -correct answer-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 answer-EAC = AC/new estimate for
remaining work
new estimate is most applicable when: -correct answer-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 answer-EAC = AC/(BAC - EV)
original estimate is most applicable when: -correct answer-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 answer-EAC = AC + (BAC -
EV)/CPI or EAC = BAC/CPI
,performance estimate low formula is most applicable when: -correct answer-future
variances are projected to approximate the same level as current variances
performance estimate high technique for finding EAC -correct answer-EAC = AC + (BAC - EV)
/ (CPI)(SPI)
performance estimate high formula is most applicable when: -correct answer-the project is
over budget and the schedule impacts the work remaining to be completed
BAC -correct answer-budget at completion. the total budgeted cost of all approved activities
ETC -correct answer-estimate to complete - the estimate for completing the remaining work
for a scheduled activity
ETC when past variances are considered to be atypical -correct answer-ETC = BAC - EV
ETC when prior variances are considered to be typical of future variances -correct answer-
ETC = (BAC - EV)/CPI
communications channels -correct answer-channels = (n(n-1))/2. n - number of ppl
rule of seven -correct answer-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 answer-the entire value of a business - the total sum of all tangible
and intangible elements
colocation -correct answer-project team members are physically located close to one
another in order to improve communications, working relations, and productivity
constraint -correct answer-a restriction or limitation that may force a certain course of action
or inaction
enterprise environmental factors -correct answer-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 answer-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 answer-ongoing work performed by ppl, constrained by resources,
planned, executed, monitored, and controlled. unlike a project bc they are repetitive
organizational process assets -correct answer-any formal or informal processes, plans,
policies, procedures, guidelines, and ongoing or historical project info such as lessons
learned, measurement data, project files, and estimates vs actuals
, portfolio -correct answer-a collection of programs, projects, and additional work managed
together to facilitate the attainment of strategic business goals
product life cycle -correct answer-the collection of stages that make up the life of a product.
these stages are typically introduction, growth, maturity, and retirement
program -correct answer-a group of related projects managed in a coordinated way
progressive elaboration -correct answer-the iterative process of increasing the level of detail
in a project management plan as greater amounts of information and more accurate
estimates become available
project -correct answer-work performed by ppl, constrained by resources, planned,
executed, monitored and controlled. has a definite beginning and end and creates a unique
outcome
project life cycle -correct answer-the name given to the collection of various phases that
make up a project - make the project easier to control and integrate
project management -correct answer-the ability to meet project requirements by using
various knowledge, skills, tools, and techniques to accomplish project work
project management info system -correct answer-collection of tools, methodologies,
techniques, standards, and resources used to manage a project
stakeholder -correct answer-an individual, group, or organization who may affect by, or
perceive itself to be affected by a decision, activity, or outcome of a project
standard -correct answer-a document that describes rules, guidelines, methods, processes,
and practices that can be used to enhance the chances of success
subproject -correct answer-a component of a project
program management -correct answer-the act of managing a group of related projects in a
coordinated way
project management office (PMO) -correct answer-an additional layer of organization
dedicated to helping project managers
project managers roles -correct answer-focus on the immediate needs of the project, control
the project management team and participants, control scope, schedule, cost, and quality
trade-offs
PMO manager roles -correct answer-review program scope changes for opps and risks,
attempt to maximize/optimize/satisfy shared resources, manage overall risk, opportunities,
and interdependencies of all projects at their level of the enterprise
project management knowledge competency -correct answer-what project managers know
