Project Management Fundamentals Flashcards
7 cards from real CAM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Project Management Fundamentals flashcards as text
What is a milestone in project management?
Answer: A significant point or event with zero duration that marks progress
A milestone is a significant event or achievement in the project timeline, typically represented with zero duration, used to mark key progress points.
An account manager is managing multiple competing client priorities. Which approach BEST supports effective project prioritization?
Answer: Prioritize based on the client's strategic value and urgency
Effective prioritization aligns task urgency and importance with the client's strategic objectives, ensuring the most critical work receives focus first.
What does RACI stand for in a project responsibility matrix?
Answer: Responsible, Accountable, Consulted, Informed
RACI stands for Responsible (does the work), Accountable (owns the outcome), Consulted (provides input), and Informed (kept up to date).
A project has a tight deadline. An account manager decides to overlap sequential project phases to save time. This technique is called:
Answer: Fast tracking
Fast tracking involves performing project phases or activities in parallel that were originally planned sequentially, compressing the schedule without adding resources.
During a project status review, actual costs exceed the planned budget at the halfway point. What should the account manager do FIRST?
Answer: Analyze the cause of the variance before taking corrective action
Before taking corrective action, the account manager must first analyze why the variance occurred to determine the appropriate and targeted response.
Which project document captures lessons learned and should be updated throughout the project lifecycle?
Answer: Lessons learned register
The lessons learned register captures knowledge gained during the project, including successes and failures, to improve future project performance.
A CAM professional is asked to manage a project with unclear requirements. Which approach is MOST appropriate?
Answer: Request a formal scope definition before starting
Unclear requirements are a leading cause of project failure, so a formal scope definition session should be conducted before committing resources.