WGU C722 PMP & PMBOK Guide Exam Mastery: Project Charter, Project
Planning, Scope Management, WBS, Schedule Development, Activity Definition,
Sequencing, Duration Estimation, Critical Path Method, Float, Crashing, Fast-
Tracking, Cost-Benefit Analysis, Net Present Value, Internal Rate of Return,
Resource Management, Team Development, Communications, Risk
Identification, Risk Analysis, Risk Responses, Procurement Management,
Stakeholder Engagement, Project Execution, Monitoring & Controlling,
Integrated Change Control, Project Closing, Lessons Learned, Deliverables, KPIs,
Milestone Charts, PERT, Gantt Charts, Expert Judgment, Dependencies,
Precedence Diagramming, Discretionary & Mandatory Dependencies, Financial
Models, Feasibility Study, Project Life Cycle, Triple Constraint, Acceptance
Criteria, Scope Creep, Status Tracking Exam Questions Verified and Provided
with Complete A+ Graded Rationales Latest Updated 2026
A Guide to Project Management Body of Knowledge (PMBOK Guide)
The project management standard developed by the Project Management Institute.
Benefit measurement methods
A type of decision model that compares the benefits obtained from a variety of new project
requests by evaluating them using the same criteria and comparing the results.
Co-located
When team members work together at the same physical location
,Constrained optimization models
Decision models that use complex principles of statistics and other mathematical concepts to
assess a proposed project.
Cost-benefit analysis
A commonly used benefit measurement method that calculates the cost of producing the
product, service, or result of the project and compares this to the financial gain the project is
expected to generate.
Decision model
A formal method of project selection that helps managers make the best use of limited budgets
and human resources. Includes benefit measurement methods and constrained optimization
models.
Discounted cash flow (DCF)
Compares the value of the future cash flows of the project to today's dollars.
Economic model
A type of benefit measurement method. It is a series of financial calculations that provide data
on the overall financials of the project and is generally used as a project selection technique.
,Expert judgment
A technique used in project selection, determining estimates, and determining other related
project information that relies on the knowledge of those with expertise on the requested
subject matter. Expert judgment can come from, stakeholders, other departments, consultants,
team members, vendors, or industry groups.
Feasibility study
Undertaken to determine whether the project is a viable project, the probability of project
success, and the viability of the product of the project
Functional organization
A form of organizational structure. Functional organizations are traditional organizations with
hierarchical reporting structures.
Internal rate of return (IRR)
The discount rate when the present value of the cash inflows equals the original investment.
Projects with higher IRR values are generally considered better than projects with lower IRR
values. Assumes that cash inflows are reinvested at the IRR value.
Matrix organization
An organizational structure where employees report to one functional manager and at least on
project manager. Functional managers assign employees to projects and carry out
administrative duties, while project managers assign tasks associated with the project to team
members and execute the project.
, Net present value
Evaluation of the cash inflows using the discounted cash flow technique, which is applied to
each period the inflows are expected. NPV subtracts the initial project investment from the total
cash flow in today's dollars. It is similar to discounted cash flows.
Operations
Operations typically involve ongoing functions that support the production of goods or services.
They don't have a beginning or an end.
Payback period
The length of time it takes a company to recover the initial cost of producing the product or
service of the project.
Program
A grouping of related projects that are managed together to capitalize on benefits that couldn't
be achieved if the projects were managed separately.
Project
Temporary in nature, with a definite start and end date; creates a unique product, service, or
result. It is completed when the goals and objectives of the project have been met and signed
off on by the stakeholders.
Planning, Scope Management, WBS, Schedule Development, Activity Definition,
Sequencing, Duration Estimation, Critical Path Method, Float, Crashing, Fast-
Tracking, Cost-Benefit Analysis, Net Present Value, Internal Rate of Return,
Resource Management, Team Development, Communications, Risk
Identification, Risk Analysis, Risk Responses, Procurement Management,
Stakeholder Engagement, Project Execution, Monitoring & Controlling,
Integrated Change Control, Project Closing, Lessons Learned, Deliverables, KPIs,
Milestone Charts, PERT, Gantt Charts, Expert Judgment, Dependencies,
Precedence Diagramming, Discretionary & Mandatory Dependencies, Financial
Models, Feasibility Study, Project Life Cycle, Triple Constraint, Acceptance
Criteria, Scope Creep, Status Tracking Exam Questions Verified and Provided
with Complete A+ Graded Rationales Latest Updated 2026
A Guide to Project Management Body of Knowledge (PMBOK Guide)
The project management standard developed by the Project Management Institute.
Benefit measurement methods
A type of decision model that compares the benefits obtained from a variety of new project
requests by evaluating them using the same criteria and comparing the results.
Co-located
When team members work together at the same physical location
,Constrained optimization models
Decision models that use complex principles of statistics and other mathematical concepts to
assess a proposed project.
Cost-benefit analysis
A commonly used benefit measurement method that calculates the cost of producing the
product, service, or result of the project and compares this to the financial gain the project is
expected to generate.
Decision model
A formal method of project selection that helps managers make the best use of limited budgets
and human resources. Includes benefit measurement methods and constrained optimization
models.
Discounted cash flow (DCF)
Compares the value of the future cash flows of the project to today's dollars.
Economic model
A type of benefit measurement method. It is a series of financial calculations that provide data
on the overall financials of the project and is generally used as a project selection technique.
,Expert judgment
A technique used in project selection, determining estimates, and determining other related
project information that relies on the knowledge of those with expertise on the requested
subject matter. Expert judgment can come from, stakeholders, other departments, consultants,
team members, vendors, or industry groups.
Feasibility study
Undertaken to determine whether the project is a viable project, the probability of project
success, and the viability of the product of the project
Functional organization
A form of organizational structure. Functional organizations are traditional organizations with
hierarchical reporting structures.
Internal rate of return (IRR)
The discount rate when the present value of the cash inflows equals the original investment.
Projects with higher IRR values are generally considered better than projects with lower IRR
values. Assumes that cash inflows are reinvested at the IRR value.
Matrix organization
An organizational structure where employees report to one functional manager and at least on
project manager. Functional managers assign employees to projects and carry out
administrative duties, while project managers assign tasks associated with the project to team
members and execute the project.
, Net present value
Evaluation of the cash inflows using the discounted cash flow technique, which is applied to
each period the inflows are expected. NPV subtracts the initial project investment from the total
cash flow in today's dollars. It is similar to discounted cash flows.
Operations
Operations typically involve ongoing functions that support the production of goods or services.
They don't have a beginning or an end.
Payback period
The length of time it takes a company to recover the initial cost of producing the product or
service of the project.
Program
A grouping of related projects that are managed together to capitalize on benefits that couldn't
be achieved if the projects were managed separately.
Project
Temporary in nature, with a definite start and end date; creates a unique product, service, or
result. It is completed when the goals and objectives of the project have been met and signed
off on by the stakeholders.
