CAPM Practice Questions

A

B

Explanation: Process: 9.1 Plan Human Resource ManagementDefinition: The process ofidentifying and documenting project roles, responsibilities, required skills, reporting relationships, and creating a staffing management plan.
Key Benefit: The key benefit ofthis process is that it establishes project roles and responsibilities, project organization charts, and the staffing management plan including the timetable for staff acquisition and release.

Explanation: 4.1.1.2 Business CaseThe business case or similar document describes the necessary information from a business standpoint to determine whetherornottheprojectis worth the requiredinvestment. It is commonly used for decision making by managers or executives above the project level. Typically, the business need and the cost-benefit analysis are contained in the business case tojustify and establish boundaries forthe project, and such analysis is usually completed by a business analyst using various stakeholder inputs. The sponsor should agree to the scope and limitations of the business case. The business case is created as a result ofone or more of the following:Market demand (e.g., a car company authorizing a project to build more fuel-efficient cars in response to gasoline shortages).Organizational need (e.g., due to high overhead costs a company may combine staff functions and streamline processes to reduce costs.),Customer request (e.g., an electric utility authorizing a project to build a new substation to serve a new industrial park).Technological advance (e.g., an airline authorizing a new project to develop electronic tickets instead of paper tickets based on technological advances).Legal requirement (e.g., a paint manufacturer authorizing a project to establish guidelines for handling toxic materials).Ecological impacts (e.g., a company authorizing a project to lessen its environmental impact), orSocial need (e.g., a nongovernmental organization in a developing country authorizing a project to provide potable water systems, latrines, and sanitation education to communities suffering from high rates ofcholera).Each of the examples in this list may contain elements of risk that should be addressed. In the case of multiphase projects, the business case may be periodically reviewed to ensure that the project is on track to deliver the business benefits. In the early stages of the project life cycle, periodic review of the business case by the sponsoring organization also helps to confirm that the project is still aligned with the business case. The project manager is responsible for ensuring that the project effectively and efficiently meets the goals of the organization and those requirements of a broad set of stakeholders, as defined in the business case.

A flowchart (or process map) is the correct answer. It is a diagram that depicts a process, workflow, or algorithm, showing the steps as boxes of various kinds, and their order by connecting them with arrows. This visual representation is ideal for analyzing and improving processes.

A

Reference: https://www.
Droiectengineer.net/steps-in-project-scheduling/

B

Explanation: 7.2.2.3 Parametric EstimatingParametric estimating uses a statistical relationship between relevant historical data and other variables (e.g., square footage in construction) to calculate a cost estimate for project work. This technique can produce higher levels of accuracy depending upon the sophistication and underlying data built into the model. Parametric cost estimates can be applied to a total project or to segments ofa project, in conjunction with other estimating methods.
Process: 6.5 Estimate Activity DurationsDefinition: The process of estimating the number ofwork periods needed to complete individual activities with estimated resources.
Key Benefit: The key benefit ofthis process is that it provides the amount oftime each activity will take to complete, which is a major input into the Develop Schedule process.

B