APM PFQ EXAM WITH
COMPLETE SOLUTION
UPDATED 2023-2024
Define a project - AnswersProjects are unique, transient endeavours undertaken to achieve a
desired outcome. Projects bring about change and project management is recognised as the most
efficient way of managing such change.
define project management - AnswersProject management is the process by which projects are
defined, planned, monitored, controlled and delivered such that the agreed benefits are realised.
identify the differences between a project and business as usual - AnswersProjects involve
uncertainty, require a special team and operate in a dynamic environment. Business-As-Usual uses
the deliverables produced to provide on-going services in a more stable environment.
state the key purpose of project management - AnswersProject management is used to define, plan,
monitor and control the projects in order to enable the business benefits to be realised.
list the processes of project management - Answers- Starting Process - Planning Process - Monitoring
& Control Process - Feedback Process - Closing Process
list the benefits to an organisation of effective project management - Answers- greater likelihood of
achieving the desired result - efficient and best value use of resources - satisfying the needs of
stakeholders
, list the core components of project management - Answers- define project need - capture
requirements - prepare business case - secure funding - develop management plan - lead team -
manage risks - monitor progress - manage budget - maintain communication - close the project
define programme - Answers- deliver significant business change - over extensive periods of time. -
programme coordinates a number of projects
define portfolio management - Answers- group of programmes which are being undertaken for an
organization. - ensures that the right programmes and projects are being run - while maintaining
business as usual
define benefits management - AnswersBenefits are defined as the quantifiable and measurable
improvement resulting from completion of deliverables that is perceived as positive by a
stakeholder. It will normally have a tangible value, expressed in monetary terms that will justify the
investment.
define the term project environment - AnswersThe circumstances and conditions within which the
project, programme or portfolio must operate.
define the components of the PESTLE acronym - AnswersPolitical, Economical, Social, Technological,
Legal, Environmental
define the term project life cycle - AnswersThe inter-related phases of a project, programme or
portfolio and provides a structure for governing the progression of work.
define stakeholders and stakeholder management and explain why stakeholder analysis is
important. - AnswersStakeholders are defined as any person or group that has a vested interest or
"stake" in the project. Stakeholder management involves identifying the stakeholders,
understanding their position and their needs and communicating effectively with them. Important to
consider how much power/influence and interest each of the stakeholders has and whether they are
positive or negative towards the project.
define the use of KPIs - AnswersKey performance indicators are defined during the concept phase
and measured during the implementation phase. They are used to determine whether or not the
success criteria will be met.
define success criteria in the context of managing projects - AnswersProject success criteria are used
to establish whether or not the project has been successful. They are defined at the start of the
COMPLETE SOLUTION
UPDATED 2023-2024
Define a project - AnswersProjects are unique, transient endeavours undertaken to achieve a
desired outcome. Projects bring about change and project management is recognised as the most
efficient way of managing such change.
define project management - AnswersProject management is the process by which projects are
defined, planned, monitored, controlled and delivered such that the agreed benefits are realised.
identify the differences between a project and business as usual - AnswersProjects involve
uncertainty, require a special team and operate in a dynamic environment. Business-As-Usual uses
the deliverables produced to provide on-going services in a more stable environment.
state the key purpose of project management - AnswersProject management is used to define, plan,
monitor and control the projects in order to enable the business benefits to be realised.
list the processes of project management - Answers- Starting Process - Planning Process - Monitoring
& Control Process - Feedback Process - Closing Process
list the benefits to an organisation of effective project management - Answers- greater likelihood of
achieving the desired result - efficient and best value use of resources - satisfying the needs of
stakeholders
, list the core components of project management - Answers- define project need - capture
requirements - prepare business case - secure funding - develop management plan - lead team -
manage risks - monitor progress - manage budget - maintain communication - close the project
define programme - Answers- deliver significant business change - over extensive periods of time. -
programme coordinates a number of projects
define portfolio management - Answers- group of programmes which are being undertaken for an
organization. - ensures that the right programmes and projects are being run - while maintaining
business as usual
define benefits management - AnswersBenefits are defined as the quantifiable and measurable
improvement resulting from completion of deliverables that is perceived as positive by a
stakeholder. It will normally have a tangible value, expressed in monetary terms that will justify the
investment.
define the term project environment - AnswersThe circumstances and conditions within which the
project, programme or portfolio must operate.
define the components of the PESTLE acronym - AnswersPolitical, Economical, Social, Technological,
Legal, Environmental
define the term project life cycle - AnswersThe inter-related phases of a project, programme or
portfolio and provides a structure for governing the progression of work.
define stakeholders and stakeholder management and explain why stakeholder analysis is
important. - AnswersStakeholders are defined as any person or group that has a vested interest or
"stake" in the project. Stakeholder management involves identifying the stakeholders,
understanding their position and their needs and communicating effectively with them. Important to
consider how much power/influence and interest each of the stakeholders has and whether they are
positive or negative towards the project.
define the use of KPIs - AnswersKey performance indicators are defined during the concept phase
and measured during the implementation phase. They are used to determine whether or not the
success criteria will be met.
define success criteria in the context of managing projects - AnswersProject success criteria are used
to establish whether or not the project has been successful. They are defined at the start of the
