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C722 PROJECT MANAGEMENT EXAM LATEST UPDATE -2026-
100+ QUESTIONS AND VERIFIED ANSWERS ALL THE BEST
Project
A temporary activity that creates a unique result.
Initiatives with specific goals and start and end dates. Develop a new product or
service, reduce costs, add technology, etc.
Examples:
A car company developing a new passenger car.
A freight company adding a computer program to optimize cargo carrying
capacity.
A construction company building a new facility for a customer.
Project Life Cycle Phases
Defining, Planning, Executing, Closing
, 2
Defining phase
Idea for the project is generated and formalized into a project proposal and the
decision on whether the project will be selected for implementation is made
Planning phase
Where detailed planning occurs. Level of detail aligns with complexity of project.
Use Work Breakdown Structure to identify outcomes needed.
Can require significant time for large projects.
Typically ends when baselines for scope, budget, and schedule are approved by
customer and/or sponsor and project team.
Executing phase
Where most of the work is done.
Deliverables are completed. Progress is monitored and actions taken as needed to
stay on track.
May return to planning phase as needed if objectives can't be met, to modify
budget, schedule, or scope.
Critical to be careful of scope creep - don't add functionality without considering
impact.
This phase is complete when all work activities and deliverables are ready to be
delivered to customer/sponsor.
, 3
Closing phase
When project outcomes are delivered to the customer and/or sponsor.
Project Manager ties up loose ends:
- Reassign project resources back to company
- Document project results and lessons learned
- Close out procurement activities
- Verify completed project is transitioned to customer
Triple Constraints of Project Management
Describes the required balance of time, cost, and scope for a project.
Change Control Board (CCB)
Those with authority to approve changes.
Ensures change doesn't negatively impact the project's triple constraint of time,
cost, and scope.
Can be a small group of individuals from within a project team.
PMBOK
Project Management Body of Knowledge
Functional/Departmentalized Org
Oldest & most basic form.
, 4
PROS
Clear lines of authority.
SMEs can work on multiple projects.
Flexible use of staff within unit.
Easy to prioritize dept work within unit.Clear paths for career growth.
CONS
Low project manager authority.
Ineffective for projects.
Org doesn't focus on solving business-wide issues.
Sharing resources across functions can be difficult.
Project customer not only focus; customer response can be slow.
Can lead to information silos.
C722 PROJECT MANAGEMENT EXAM LATEST UPDATE -2026-
100+ QUESTIONS AND VERIFIED ANSWERS ALL THE BEST
Project
A temporary activity that creates a unique result.
Initiatives with specific goals and start and end dates. Develop a new product or
service, reduce costs, add technology, etc.
Examples:
A car company developing a new passenger car.
A freight company adding a computer program to optimize cargo carrying
capacity.
A construction company building a new facility for a customer.
Project Life Cycle Phases
Defining, Planning, Executing, Closing
, 2
Defining phase
Idea for the project is generated and formalized into a project proposal and the
decision on whether the project will be selected for implementation is made
Planning phase
Where detailed planning occurs. Level of detail aligns with complexity of project.
Use Work Breakdown Structure to identify outcomes needed.
Can require significant time for large projects.
Typically ends when baselines for scope, budget, and schedule are approved by
customer and/or sponsor and project team.
Executing phase
Where most of the work is done.
Deliverables are completed. Progress is monitored and actions taken as needed to
stay on track.
May return to planning phase as needed if objectives can't be met, to modify
budget, schedule, or scope.
Critical to be careful of scope creep - don't add functionality without considering
impact.
This phase is complete when all work activities and deliverables are ready to be
delivered to customer/sponsor.
, 3
Closing phase
When project outcomes are delivered to the customer and/or sponsor.
Project Manager ties up loose ends:
- Reassign project resources back to company
- Document project results and lessons learned
- Close out procurement activities
- Verify completed project is transitioned to customer
Triple Constraints of Project Management
Describes the required balance of time, cost, and scope for a project.
Change Control Board (CCB)
Those with authority to approve changes.
Ensures change doesn't negatively impact the project's triple constraint of time,
cost, and scope.
Can be a small group of individuals from within a project team.
PMBOK
Project Management Body of Knowledge
Functional/Departmentalized Org
Oldest & most basic form.
, 4
PROS
Clear lines of authority.
SMEs can work on multiple projects.
Flexible use of staff within unit.
Easy to prioritize dept work within unit.Clear paths for career growth.
CONS
Low project manager authority.
Ineffective for projects.
Org doesn't focus on solving business-wide issues.
Sharing resources across functions can be difficult.
Project customer not only focus; customer response can be slow.
Can lead to information silos.
