CAPM Flashcards

A project manager is performing procurement planning. Which document defines the requirements for items or services to be procured?

Answer: Statement of Work (SOW)

A Statement of Work (SOW) describes the specific portion of the product or service to be procured from a seller.

Which risk response strategy involves shifting the negative impact of a risk to a third party?

Answer: Transfer

Transferring risk shifts the negative impact to a third party, such as purchasing insurance or outsourcing risky work.

What is the Schedule Performance Index (SPI) if the Earned Value (EV) is $60,000 and the Planned Value (PV) is $75,000?

Answer: 0.80

SPI = EV / PV = $60,000 / $75,000 = 0.80, indicating the project is behind schedule.

Which process involves tracking, reviewing, and regulating the progress to meet project performance objectives?

Answer: Monitor and Control Project Work

Monitor and Control Project Work tracks, reviews, and regulates project progress to meet the performance objectives defined in the plan.

A project manager is using a responsibility assignment matrix (RAM). What does a RACI chart specifically track?

Answer: Responsible, Accountable, Consulted, and Informed

A RACI chart maps team members to tasks using four roles: Responsible, Accountable, Consulted, and Informed.

During project planning, the team identifies that a specific regulatory approval is required before construction can begin. This is an example of a:

Answer: Dependency

A mandatory external dependency (regulatory approval) must occur before a successor activity can start.

Which document formally authorizes the existence of a project and gives the project manager authority to apply organizational resources?

Answer: Project Charter

The project charter formally authorizes the project and grants the project manager the authority to use organizational resources.