APM PMQ - Principles of Project Management Questions and Answers 100% accurate!

What are the five principles of project management professionalism? -ANSWER-*Breadth* - The APM Body of Knowledge (BoK) defines the knowledge needed to manage any kind of project *Depth* - The APM Competence framework shows the combined knowledge, skill and behaviour that a person needs to perform properly in a job or work role *Achievement* - In professional development qualifications *Accountability* - To the APM Code of Processional Conduct (ethics). *Commitment* - to continuing professional development Name the six components of a project? (Six essential questions that need settled). -ANSWER-1. *Scope* What are the objectives and scope of the work 2. *Schedule* How long will it take to achieve? 3. *Finance* How are the necessary funds acquired and costs managed? 4. *Risk* What are the threats and opportunities involved? 5. *Quality* How will fitness for purpose of the deliverables and management processes are assured? 6. *Resource* How will the necessary resources be acquired, mobilized and managed? Define the project environment. What key distinction should be made in this area? -ANSWER-The project environment is the circumstances and conditions within which the project, programme, or portfolio must operate. The distinction should be between internal and external factors Name two key tools to analyse the project environment -ANSWER-1. SWOT (strengths, weaknesses, opportunities, threats) 2.) PESTLE (political, economic, social, technological, legal, ecological) Why do projects fail? Offer at least five. -ANSWER-Lack of link between project and organisational strategy Lack of clear senior management ownership and leadership Lack of effective engagement with stakeholders Lack of skills and proven PM and risk management Too little attention to breaking development and implementation into manageable steps Evaluation of proposals driven by initial price, not long term value for money Lack of understanding of and contact with the supply industry Lack of effective project team integration between clients, supplier, and supply chain. i.e. governance and control What are the six benefits of governance of project management? -ANSWER-COMABS *C*ompliance *O*ptimise portfolio *M*inimise risk *A*ssure growth *B*etter decisions *S*takeholder confidence Name the four life-cycles -ANSWER-1.) Linear - The subject of the PMQ qualification (i.e. waterfall). 2.) Parallel - This is similar to the linear but phases are carried out in parallel to increase the pace of delivery. 3.) Spiral - this is often employed where many options, requirements and constraints are unknown at the start (e.g. in prototyping or research projects) iterative/agile 4.) V - this is applied in software development where requirements are defined and the development tools are well known. Name the three project lifecycles, and the stages in each. -ANSWER-*Project life cycle* 1.