(Top 2024/2025 EXAM REVIEW PAPERS / GRADED A+/ 100% Accurate) C176 Project Management Study Set 1, Questions and answers, Graded A+. VERIFIED.

C176 Project Management Study Set 1, Questions and answers, Graded A+. VERIFIED. Who is ultimately responsible for the project's outcome? The project manager Steps in validating a project(2) 1- Validate the business case 2- Then I.D. and analyze stakeholders. Name the traits to define a project. 1- temporary in nature 2- delivers a unique: 2.1 product 2.2 service 2.3 or result. Who is responsible for developing the project plan? The project manager What project management function occupies most of a project manager's time and effort? Communication 2 A Guide to the Project Management Body of Knowledge (PMBOK Guide) The project management standard developed by the Project Management Institute (PMI). Knowledge Areas outlined in the PMBOK Guide(9) 1- Scope 2- Time 3- Cost 4- Quality 5- Human Resources 6- Communications 7- Risk 8- Procurement 9- Integration Management Name the steps in validating a business case. 1- Feasibility study 2- Justification 3- Alignment to the strategic plan Benefit measurement methods A type of decision model comparing benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. 3 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. Enterprise project A project that will be used by users throughout the enterprise. Equipment (a) Resources such as servers, specialized test equipment, or additional PCs that are required for a project. (b) One of the categories of project resources. It include