CAPM Exam Flashcards| New Update 2023 with Complete Solutions

CAPM Exam Flashcards| New Update 2023 with Complete Solutions Project Life Cycle - CORRECT ANSWER A series of phases that a project passes through from start to completion; a framework for managing the project. Can be predictive or adaptive with phases that may be sequential, iterative, or overlapping. Project Phase - CORRECT ANSWER A collection of logically related project activities that produce one or more deliverable. Can be described by a variety of attributes that may be measurable and unique to a specific phase. Project Phase Examples - CORRECT ANSWER Concept Development Feasibility Study Customer Requirements Solution Development Design Prototype Build Test Transition Commission Phase Gate - CORRECT ANSWER A review at the end of a phase in which a decision is made to continue, modify, or end a phase or project. The project's performance and progress are compared to the project and business documents. (1.2.4.3) Phase Gate Examples - CORRECT ANSWER Phase Reviews Stage Gates Kill Points Phase Exists Project Management Processes - CORRECT ANSWER A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs. An output can be a deliverable or another type of outcome Project Management Processes - CORRECT ANSWER Processes are linked by the outputs they produce and may contain overlapping activities that occur throughout the project. The output of one process generally results in an input to another process or a deliverable of the project or phase. (1.2.4.4) Process Groups - CORRECT ANSWER A logical grouping of project management processes to achieve specific project objectives. Independent of process phases as well as the application area or industry focus 5 Process Groups - CORRECT ANSWER Initiating, Planning, Executing, Monitoring & Controlling, Closing Knowledge Areas - CORRECT ANSWER An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.