Certified Associate In Project Management Study Guide Questions And Correct Answers

start-to-start {Ans: a logical relationship in which a successor cannot start until a predecessor starts}performance estimate low formula is most applicable when: {Ans: future variances are projected to approximate the same level as current variances}iterative or incremental life cycle2 {Ans: used when scope details become clear as each phase is completed. works well in highly complex projects}records management system {Ans: used by proejct manager to manage contract and procurement documentation and records}expected monetary value analysis {Ans: used to determine the average outcomes of a specific scenario - calculated by multiplying value of each outcome by its probability and adding the products together. requires a risk neutral assumption. may use a decision tree}point of total assumption {Ans: in a fixed price contract - point above which the seller will assume responsib. for all costs - occurs when contract celing price has been exceed}