NCMA CPCM Vocabulary - Contract Management Body of Knowledge (CMBOK) Predicted Questions and Answers 2024 Updated

Acceptance criteria - Those criteria, usually stated in a contract and/or SOW that includes deliverables, performance requirements and essential conditions, which must be met to complete project deliverables and be accepted Agile - A project management methodology utilizing short-term sprints to react to changing scope requirements Baseline - The original plan (for a project, a work package, or an activity) plus or minus approved changes; usually used with a modifier (e.g., cost baseline, schedule baseline performance measurement baseline) Budget - When unqualified, refers to an estimate of funds planned to cover a project or specified period of future time; when approved, the estimate for the project or any work breakdown component or any scheduled activity Detailed contract analysis - A document listing the contractual obligations and requirements for the seller as well as for the buyer; the list contains the information extracted and provided in the form of a contract calendar which listed as every "seller will or shall" and its due date (if known) down to the task level Change control - The process of controlling, documenting, and storing the changes to control items; includes proposing the change, evaluating, approving or rejecting, scheduling and tracking Change Control Board (CCB) - A formally constituted group of stakeholders responsible for approving or rejecting changes to the project baselines