Practice Test Geeks(CAM) Control Account Manager Certification Practice Test
← All CAM Flashcard Decks

CAM Resource Management & Allocation Flashcards

6 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 6 CAM Resource Management & Allocation flashcards as text

  1. What is 'labor rate variance' in CAM resource management?

    Answer: The difference between the planned and actual cost per hour for labor resources

    Labor rate variance measures the difference between the budgeted hourly rate and the actual rate paid for labor, impacting the control account cost performance.

  2. What is 'labor efficiency variance' in a control account?

    Answer: The difference between budgeted hours and actual hours worked for a given amount of output

    Labor efficiency variance compares the budgeted hours needed to complete work with the actual hours consumed, reflecting workforce productivity.

  3. In EVMS, what is 'undistributed budget (UB)'?

    Answer: Budget authorized for the project but not yet assigned to specific control accounts or work packages

    Undistributed budget is budget that has been authorized for the contract but has not yet been formally distributed to specific control accounts or work packages in the WBS.

  4. What is the purpose of 'Management Reserve (MR)' in an EVMS contract?

    Answer: To provide budget held outside the PMB for unplanned in-scope work

    Management Reserve (MR) is budget outside the PMB held by management to address unplanned but in-scope work that arises during project execution.

  5. Which resource management technique assigns resources based on task priority to resolve over-allocation?

    Answer: Critical chain method

    The critical chain method prioritizes resources to the critical chain (longest resource-constrained path) and uses feeding buffers to protect the project completion date.

  6. What is 'make-or-buy analysis' in the context of CAM resource management?

    Answer: An analysis to determine whether to perform work internally or procure it externally

    Make-or-buy analysis evaluates whether it is more cost-effective and strategically sound to perform work with in-house resources or to outsource it to external vendors.