Foundational project management vocabulary and process concepts tested on the CAPM exam.
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- What is a project?
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A temporary endeavor undertaken to create a unique product, service, or result.- How does a project differ from operations?
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Projects are temporary with a defined end; operations are ongoing and repetitive.- What is the Triple Constraint in project management?
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Scope, time, and cost - the three competing demands that define a project.- Define a project manager.
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The person responsible for planning, directing, and controlling project resources to meet objectives.- What is a project stakeholder?
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Any individual or group who is impacted by or can impact the project.- Define a project sponsor.
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An executive or senior manager who champions the project and provides financial and organizational support.- What is a project charter?
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A document that formally authorizes a project and grants the project manager authority to use resources.- What does scope management include?
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Planning, collecting requirements, defining, validating, and controlling what is and is not included in the project.- What is a scope statement?
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A document describing the project objectives, deliverables, constraints, and high-level requirements.- What is a Work Breakdown Structure?
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A hierarchical decomposition of project deliverables into smaller, manageable work packages.- What does schedule management involve?
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Planning, sequencing, estimating durations, developing, and controlling the project schedule.- What is the critical path?
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The longest sequence of dependent activities that determines the minimum project duration.- What is a Gantt chart?
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A horizontal bar chart that displays project activities against a timeline.- What does cost management include?
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Planning, estimating, budgeting, and controlling project costs.- What is a project budget?
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The approved estimate of project costs allocated to complete project work.
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