CAPM Master Study Guide Review

Flashcards covering the foundational domains of the August 2026 CAPM Exam Content Outline, including PM Fundamentals, Predictive Methods, Agile, and Business Analysis.

Project

A temporary effort undertaken to create a unique product, service, result, or intended outcome.

Program

A group of related projects and activities managed together to obtain coordinated benefits and control.

Portfolio

A collection of projects, programs, and operations managed as a group to achieve strategic objectives.

Operations

Ongoing, repetitive activities that sustain the business and produce recurring products or services.

Enterprise Environmental Factors (EEFs)

Conditions outside the project team's direct control that influence or constrain the project, such as organizational culture or market conditions.

Organizational Process Assets (OPAs)

Internal organizational resources including templates, policies, procedures, and historical information libraries.

Functional Organization

A structure where people are grouped by specialty and functional managers hold the highest authority.

Projectized Organization

A structure where teams are organized primarily around projects and the Project Manager has strong authority.

Risk

An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives.

Issue

A current problem, conflict, or situation that has already occurred and requires management attention.

Assumption

A factor in planning that is considered to be true, real, or certain without proof.

Constraint

A limiting factor or restriction that affects the execution of a project, such as a budget or fixed deadline.

100% Rule

The principle that the Work Breakdown Structure (WBS) must include all work defined by the project scope and only that work.

Scope Baseline

The approved version of a scope statement, WBS, and WBS Dictionary used for comparison against actual results.

Milestone

A significant point or event in a project that typically has zero duration.

RACI Matrix

A Responsibility Assignment Matrix that identifies who is Responsible, Accountable, Consulted, and Informed for work items.

Tuckman's Stages of Team Development

A five-stage sequence of team evolution consisting of Forming, Storming, Norming, Performing, and Adjourning.

Communication Channels Formula

A mathematical expression used to determine total potential connections: $\frac{N \times (N - 1)}{2}$

Critical Path

The longest-duration path through a schedule network that determines the earliest possible project completion date.

Total Float

The amount of time an activity can be delayed without delaying the project finish date.

Crashing

A schedule compression technique that adds cost or resources to critical-path tasks to shorten project duration.

Fast Tracking

A schedule compression technique where activities originally planned in sequence are performed in parallel.

PERT Formula

A weighted three-point estimation technique: $\frac{O + 4M + P}{6}$

Cost Performance Index (CPI)

A measure of cost efficiency of budgeted resources: $\frac{EV}{AC}$

Schedule Performance Index (SPI)

A measure of schedule efficiency: $\frac{EV}{PV}$

Cost Variance (CV)

The difference between earned value and actual cost: $EV - AC$

Contingency Reserve

Budget or time allocated within the cost baseline for identified risks (known-unknowns).

Management Reserve

Budget or time held outside the cost baseline for unforeseen work (unknown-unknowns).

Cost of Quality (CoQ)

The total cost of all efforts to ensure quality (conformance) and all costs resulting from quality failures (nonconformance).

Agile Manifesto Values

A mindset emphasizing people and collaboration, working software, customer collaboration, and responding to change.

Scrum

A lightweight framework for delivering value through iterations called Sprints, featuring roles like Product Owner and Scrum Master.

Definition of Done (DoD)

A shared quality and completeness standard that a product increment must meet to be considered usable.

Kanban

A flow-based methodology centered on visualizing work, limiting Work in Progress (WIP), and improving flow.

User Story

A concise description of a user need expressed as: As a [user], I want [capability], so that [benefit].

Requirements Traceability Matrix (RTM)

A grid that links requirements from their origin to the deliverables and test cases that satisfy them.

Return on Investment (ROI)

A financial efficiency metric: $\frac{\text{Benefit} - \text{Cost}}{\text{Cost}} \times 100\%$