Project Management- C722 Exam Questions
With Correct Answers
portfolio - CORRECT ANSWER✔✔-a group of related programs that support a
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long-term company goal or objective Pg 13
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program - CORRECT ANSWER✔✔-a group of related projects Pg 13
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project - CORRECT ANSWER✔✔-an activity or group of activities to generate a
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new, unique product, service, or results to support that program Pg 13
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charter - CORRECT ANSWER✔✔-a document that, like a contract, is agreed upon
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by the sponsor and key stakeholders. It defines the project and authorizes the
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resources, roles, responsibilities, authorities, and scope for the project Pg 13
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Specific, measurable, attainable, relevant, timely - CORRECT ANSWER✔✔-Criteria
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of specific objectives that are unique to a project are referred to as SMART which
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stands for what Pg 15
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triple constraint - CORRECT ANSWER✔✔-cost (budget), schedule (time), and
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scope (deliverables) Pg 17
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stakeholder analysis - CORRECT ANSWER✔✔-analysis to define the relevant
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stakeholders, their interests, and their communication needs Pg 19
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,Change Control Board (CCB) - CORRECT ANSWER✔✔-a group of people who track
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changes in a project and can be used as a governance tool Pg 19
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Work Breakdown Structures (WBS) - CORRECT ANSWER✔✔-a key tool so that
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people understand what is expected of them and how they will be held
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accountable Pg 21 | |
Project Management Institute (PMI) - CORRECT ANSWER✔✔-Founded in 1969,
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it's headquartered in Newton, PA, and has member chapters on every continent
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(except Antarctica). Publishes foundational and practice standards and is the
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largest in the world. Pg 22 | | | | |
Association for Project Management (APM) - CORRECT ANSWER✔✔-A UK-based
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charter organization that is the largest professional body of its kind in Europe.
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Formed in 1972, it's membership is primarily limited to the United Kingdom. Pg
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22
International Project Management Association (IPMA) - CORRECT ANSWER✔✔-
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the world's first project management association, founded in 1965. The leading
| | | | | | | | | | |
authority on competent project, programme, and portfolio management (PPPM)
| | | | | | | | |
Pg 22
|
AXELOS, Ltd - CORRECT ANSWER✔✔-a joint venture between the government of
| | | | | | | | | | |
the United Kingdom and Captia PLC. It was formed to manage and grow a
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number of standards and associated certifications developed by the Cabinet
| | | | | | | | | |
office, including ITIL (Information Technology Infrastructure Library), PRINCE2,
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and Managing Successful Programs (MSP). Pg 22
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, Functional (Departmentalized) Organization pros/cons - CORRECT ANSWER✔✔-
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Pros: Lines of authority are clear; work is easily prioritized by identified
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departmental authority |
Cons: Utilizing resources across functions can be difficult; project is not managed
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holistically
Projectized Organization pros and cons - CORRECT ANSWER✔✔-Pros: Clear lines
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of authority; project is managed holistically; gain historical data from prior
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projects.
Cons: Approach is expensive because of the duplication of personnel; SME
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assigned may not have the most appropriate knowledge or expertise for the
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project
Matrix Organization pros and cons - CORRECT ANSWER✔✔-Pros: Central focus is
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the project; issues are responded to quickly.
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Cons: Requires cooperation and coordination between and among functional
| | | | | | | | |
departments and project managers; resource balancing between projects can
| | | | | | | | |
lead to friction.
| |
project management office (PMO) - CORRECT ANSWER✔✔-A process for
| | | | | | | | |
determining if the level of documentation and best practices followed in project
| | | | | | | | | | | |
execution. Pg 26 | |
With Correct Answers
portfolio - CORRECT ANSWER✔✔-a group of related programs that support a
| | | | | | | | | | |
long-term company goal or objective Pg 13
| | | | | |
program - CORRECT ANSWER✔✔-a group of related projects Pg 13
| | | | | | | | |
project - CORRECT ANSWER✔✔-an activity or group of activities to generate a
| | | | | | | | | | | |
new, unique product, service, or results to support that program Pg 13
| | | | | | | | | | |
charter - CORRECT ANSWER✔✔-a document that, like a contract, is agreed upon
| | | | | | | | | | | |
by the sponsor and key stakeholders. It defines the project and authorizes the
| | | | | | | | | | | | |
resources, roles, responsibilities, authorities, and scope for the project Pg 13
| | | | | | | | | |
Specific, measurable, attainable, relevant, timely - CORRECT ANSWER✔✔-Criteria
| | | | | | | |
of specific objectives that are unique to a project are referred to as SMART which
| | | | | | | | | | | | | | |
stands for what Pg 15
| | | |
triple constraint - CORRECT ANSWER✔✔-cost (budget), schedule (time), and
| | | | | | | | |
scope (deliverables) Pg 17
| | |
stakeholder analysis - CORRECT ANSWER✔✔-analysis to define the relevant
| | | | | | | | |
stakeholders, their interests, and their communication needs Pg 19
| | | | | | | |
,Change Control Board (CCB) - CORRECT ANSWER✔✔-a group of people who track
| | | | | | | | | | |
changes in a project and can be used as a governance tool Pg 19
| | | | | | | | | | | | | |
Work Breakdown Structures (WBS) - CORRECT ANSWER✔✔-a key tool so that
| | | | | | | | | | |
people understand what is expected of them and how they will be held
| | | | | | | | | | | | |
accountable Pg 21 | |
Project Management Institute (PMI) - CORRECT ANSWER✔✔-Founded in 1969,
| | | | | | | | |
it's headquartered in Newton, PA, and has member chapters on every continent
| | | | | | | | | | | |
(except Antarctica). Publishes foundational and practice standards and is the
| | | | | | | | | |
largest in the world. Pg 22 | | | | |
Association for Project Management (APM) - CORRECT ANSWER✔✔-A UK-based
| | | | | | | | |
charter organization that is the largest professional body of its kind in Europe.
| | | | | | | | | | | | |
Formed in 1972, it's membership is primarily limited to the United Kingdom. Pg
| | | | | | | | | | | | |
22
International Project Management Association (IPMA) - CORRECT ANSWER✔✔-
| | | | | | |
the world's first project management association, founded in 1965. The leading
| | | | | | | | | | |
authority on competent project, programme, and portfolio management (PPPM)
| | | | | | | | |
Pg 22
|
AXELOS, Ltd - CORRECT ANSWER✔✔-a joint venture between the government of
| | | | | | | | | | |
the United Kingdom and Captia PLC. It was formed to manage and grow a
| | | | | | | | | | | | | |
number of standards and associated certifications developed by the Cabinet
| | | | | | | | | |
office, including ITIL (Information Technology Infrastructure Library), PRINCE2,
| | | | | | | |
and Managing Successful Programs (MSP). Pg 22
| | | | | |
, Functional (Departmentalized) Organization pros/cons - CORRECT ANSWER✔✔-
| | | | | |
Pros: Lines of authority are clear; work is easily prioritized by identified
| | | | | | | | | | | |
departmental authority |
Cons: Utilizing resources across functions can be difficult; project is not managed
| | | | | | | | | | | |
holistically
Projectized Organization pros and cons - CORRECT ANSWER✔✔-Pros: Clear lines
| | | | | | | | | |
of authority; project is managed holistically; gain historical data from prior
| | | | | | | | | | |
projects.
Cons: Approach is expensive because of the duplication of personnel; SME
| | | | | | | | | | |
assigned may not have the most appropriate knowledge or expertise for the
| | | | | | | | | | | |
project
Matrix Organization pros and cons - CORRECT ANSWER✔✔-Pros: Central focus is
| | | | | | | | | | |
the project; issues are responded to quickly.
| | | | | |
Cons: Requires cooperation and coordination between and among functional
| | | | | | | | |
departments and project managers; resource balancing between projects can
| | | | | | | | |
lead to friction.
| |
project management office (PMO) - CORRECT ANSWER✔✔-A process for
| | | | | | | | |
determining if the level of documentation and best practices followed in project
| | | | | | | | | | | |
execution. Pg 26 | |
