WGU C954 V8 Ch 3 Exam Questions with Complete Solutions | Graded A+ | Latest Version 2026

WGU C954 V8 Ch 3 Exam Questions with Complete Solutions | Graded A+ | Latest Version 2026 communications management - answer-The generation, collection, dissemination, and storage of project information in a timely and effective manner. What is a core competency? - answer-Something that a firm can do well. What are the benefits of a core competency for customers? - answer-It provides customer benefits. Why is a core competency difficult for competitors to imitate? - answer-Because it is unique to the firm. How can a core competency be utilized? - answer-It can be leveraged widely to many products and markets. cost management - answer-A set of activities that includes the development and management of the project budget What is a cost-reimbursable contract? - answer-A contract that requires the buyer to pay the provider an amount that covers the provider's actual costs. What additional payment is included in a cost-reimbursable contract? - answer-An additional amount or percentage for cal path - answer-All project activities that, if delayed, would delay the entire project. What is a deliverable in project management? - answer-A tangible output such as a design document. What is an example of a deliverable related to software development? - answer-An implementation plan. What is a deliverable that involves software functionality? - answer-Completion of a portion of software coding. What type of deliverable includes results from testing? - answer-Testing results. What is a deliverable that prepares users for a new system? - answer-End-user training plan. What is a deliverable that occurs after a project is implemented? - answer-Post-implementation validation. What does 'earned value' refer to in project management? - answer-The actual progress made on a project. How is earned value measured? - answer-Against the planned progress of the project at that point in time. fixed-price contract - answer-A contract in which the buyer and provider agree to a total fixed price for a well-defined product or service. forming-storming-norming-performing-adjourning model - answer-A model that describes how teams develop and evolve.What is a Gantt chart? - answer-A graphical tool used for planning, monitoring, and coordinating projects. What does a Gantt chart display? - answer-A grid drawn on a timescale that lists activities and deadlines. What is the make-or-buy decision? - answer-The act of comparing the pros and cons of inhouse production versus purchasing the product from another organization. What is the lease decision in the context of make-or-buy-or-lease? - answer-The act of comparing the pros and cons of outsourcing a given product or service. network diagram - answer-A diagram outlining the dependencies among all of a project's tasks. operations - answer-Routine, day-to-day activities performed by a business to fulfill its mission and vision. predecessor task - answer-A task that must be completed before a later task can begin. What is procurement management? - answer-A set of activities related to the acquisition of goods and/or services for the project. What does procurement management involve? - answer-Acquisition of goods and/or services from sources outside the performing organization. What is a project champion? - answer-A well-respected leader with a passion to see a project succeed.What is one of the roles of a project champion? - answer-To remove barriers to the success of the project. What is another term for a project champion? - answer-Project evangelist. What is a project deadline? - answer-The date the entire project should be completed and operational. What does the project deadline signify for an organization? - answer-When the organization can expect to begin to reap the benefits of the project. project integration management - answer-The coordination of all appropriate people, assets, plans, knowledge, and efforts to complete a project successfully. project management - answer-The application of knowledge, skills, and techniques to project activities to meet project requirements. What is a project milestone? - answer-A critical date for completing a major part of the project. What are some examples of major parts of a programming project that may have milestones? - answer-Program design, coding, testing, and release. What is a project requirement? - answer-A statement of what the information system will do. What do project requirements specify about features and functionality? - answer-They specify the features and functionality the system will present.