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CAPM Certification Exam| QUESTIONS WITH COMPLETE SOLUTIONS

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business value Correct Answer: the entire value of a business; the total sum of all tangible and intangible elemtns colocation Correct Answer: project team members are physically located close to ... one another in order to improve communication, working relations, and productivity. constraint Correct Answer: 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 projects sucess 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 people, constrained by resources, planned, executed, monitored and controlled. unlike a project, operations are repetitive- day to day business organizational process assets Correct Answer: any formal or informal processes, plan, policies, procedures, guidelines, and on going or historical project ino (lessons learned, measurement data, project files, estimates versus actuals) portfolio Correct Answer: collection of projects, projects, and additional work. product life cycle Correct Answer: collection of stages that make up the life of a product. Typically: introduction, growth, maturity, and retirement. program Correct Answer: group of related project managed in a coordinated way. e.g. the design and creation of the prototype for a new airplane is a project, while manufacturing 99 more airplanes of the same model is a program progressive elaboration Correct Answer: increasing the level of detail in a project management plan as greater amounts of info and more accurate estimates become available project life cycle Correct Answer: collection of various phases that make up a project. (accomplished through the 5 process groups) standard Correct Answer: document that describes rules, guidelines, methods, processes, and practices that can be used repeatedly to enhance the chances of success. Subproject Correct Answer: a component of a project. Can be contracted out to an external enterprise or to another functional unit. [Show More]

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