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SMPS CPSM Domain 6: Key Terms Questions with
Answers (100% Correct Answers)
Accounts Receivable Collections Answer: The process of collecting
payment from clients for services provided, measured in the average
number of days it takes to collect.
Amount (Column) Answer: A three-part column in the pipeline report
representing an estimate of the fee for a potential project, recorded
based on the stage of the sale (idea, made contact, or proposal).
Arbitration Answer: The use of a neutral third party to settle a dispute
between two parties.
Baby Boomers Answer: The generation born between the mid-1940s
and early 1960s.
Backlog Answer: The work or revenue that has been logged but has
not yet been completed.
Business Development (BD) Answer: 1. Gathering client and pursuit
knowledge before a request for proposals. 2. Activities performed to
win projects with a customer or prospect.
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Business Unit/Niche (Column) Answer: A column in the pipeline
report documenting the industry niche or business unit associated
with potential new work.
Charge-Out Rate Answer: The rate at which a firm collects payment
from clients for services provided.
Chief Information Officer (CIO) Answer: Senior member bridging the
information systems department and the company's top management.
Client/Prospect (Column) Answer: A column in the pipeline report
documenting whether a sale was to a repeat client or prospective
client.
Consequential Damages Answer: Damages not directly caused by one
party's breach of a contract, but which may result from the breach.
Consideration Answer: The value exchanged between parties in a
contract, which can consist of promises, services, goods, and/or money.
Contract Answer: 1. A mutually binding legal relationship obligating
the seller to furnish supplies or services and the buyer to pay for them.
2. An exchange of promises between parties creating a legal obligation.
© 2025 All rights reserved
SMPS CPSM Domain 6: Key Terms Questions with
Answers (100% Correct Answers)
Accounts Receivable Collections Answer: The process of collecting
payment from clients for services provided, measured in the average
number of days it takes to collect.
Amount (Column) Answer: A three-part column in the pipeline report
representing an estimate of the fee for a potential project, recorded
based on the stage of the sale (idea, made contact, or proposal).
Arbitration Answer: The use of a neutral third party to settle a dispute
between two parties.
Baby Boomers Answer: The generation born between the mid-1940s
and early 1960s.
Backlog Answer: The work or revenue that has been logged but has
not yet been completed.
Business Development (BD) Answer: 1. Gathering client and pursuit
knowledge before a request for proposals. 2. Activities performed to
win projects with a customer or prospect.
© 2025 All rights reserved
, 2
Business Unit/Niche (Column) Answer: A column in the pipeline
report documenting the industry niche or business unit associated
with potential new work.
Charge-Out Rate Answer: The rate at which a firm collects payment
from clients for services provided.
Chief Information Officer (CIO) Answer: Senior member bridging the
information systems department and the company's top management.
Client/Prospect (Column) Answer: A column in the pipeline report
documenting whether a sale was to a repeat client or prospective
client.
Consequential Damages Answer: Damages not directly caused by one
party's breach of a contract, but which may result from the breach.
Consideration Answer: The value exchanged between parties in a
contract, which can consist of promises, services, goods, and/or money.
Contract Answer: 1. A mutually binding legal relationship obligating
the seller to furnish supplies or services and the buyer to pay for them.
2. An exchange of promises between parties creating a legal obligation.
© 2025 All rights reserved
