RMC PMP 2021| exam with actual questions and answers

RMC PMP 2021| exam with actual questions and answers Project - A temporary endeavor with a beginning and an end. It creates a unique product, service, or result. Stakeholders - Any people or organizations whose interests may be positively or negatively impacted by the project. Predictive - Relies on a planning process during which requirements and scope may be defined in detail early in the project. Require scope, schedule, and cost to be determined in detail early in the life of a project, before the work begins to produce deliverables. Plan-driven, traditional, or waterfall. Agile - Works best for projects where the definition of scope is emerging. Planning, executing, and managing the project happens in smaller increments to changes can be easily made as information about the product and project's needs changes. Incremental and iterative life cycles involve early planning of high-level scope sufficient enough to allow for preliminary estimates of time and cost; scope is developed a little more with each iteration. Change-driven or adaptive. Program management - Grouping related projects into a program allows an organization to coordinate their management of these projects. Portfolio management - A _____ includes programs, projects, and related operational work that are prioritized and implemented to achieve a specific strategic business goal. Supportive PMO - Provides the policies, methodologies, templates, and lessons learned for managing projects within the organization. It typically exercises a low level of control over projects. Controlling PMO - Provides support and guidance on how to manage projects, trainings others in project management and project management software, assists with specific project management tools, and ensures compliance with organizational policies. Typically has a moderate level of control over projects. Directive PMO - Provides PMs for different projects and is responsible for the results of those projects. All projects or projects of a certain size, type, or influence are managed by this office. Has a high level of control over projects. Business case - The business document most commonly used to create the project charter. Describes the necessary information from a business standpoint to determine whether the expected outcomes of the project justify the required investment. Organizational governance - The overall structure of an organization. Involves setting the policies and procedures for how work will be performed to meet strategic goals and to support organizational operations and decision-making Functional - _____ organizations are grouped by areas of specialization within _____ areas, like marketing or accounting. Projects generally occur within a single department. When you see "_____" think "silo" Team members complete project work in addition to normal department work. Project-oriented - The entire company is organized by projects. When you see "_____" think "no home" Team members complete only project work and when the project is over, they do not have a department to go back to. They need to be assigned to another project or get a job with a different employer. Matrix - An attempt to maximize the strengths of the functional and project-oriented structure. When you see "_____" think "two managers" Team members report to two managers - PM and functional manager. Organizational Process Assets (OPAs) - Processes, procedures, and policies Organizational knowledge repositories - historical knowledge bases Enterprise Environmental Factors (EEFs) - Provide context within which to plan the project. _____ are generally outside the control of the project team. External EEFs - Governmental or other rules and regulations that apply to the performing organization. Internal EEFs - Structure, culture, systems, and geographic locations of the organizations. Assumption log - Repository of both assumptions and constraints. Started at the time the project charter is developed. Is an input to many project processes, and assumption log updates are a frequent output. Constraints - Easier to identify than assumptions as they are usually clearly imposed by management or the sponsor. Return on Investment (ROI) - Determines the potential profitability of an investment by calculating the benefits in received in relation to the cost. Present Value (PV) - The value today of future cash. PV = FV/(1+r^n) FV = future value r = interest rate n = number of time periods Net Present Value (NPV) - The present value of the total benefits (income or revenue) minus the costs over many time periods. Generally, if ___ is positive, the investment is a good choice. The project with the greatest ___ should be selected. Internal Rate of Return (