C722 Project Management - Study Guide assessment verified to
pass updated 2025
1. Projects A temporary activity that creates a unique result.
Initiatives with specific goals and start and end dates. Develops a new
product or service, reduce costs, add technology, etc.
2. Operations Day-to-day activities in an organization. Continuous & ongoing.
3. Product Something created by a project.
4. Business An imagined or projected sequence of events that is representative of a
Sce- nario significant business need or problem & enables vendors to understand th
value to the customer organization of a developed solution.
Business Scenarios have this information:
-Past events that are relevant
-Current key information
-Expected or desired outcomes
5. Business
Strate- gy The activities, methods, tactics, etc. that will be employed to meet the
business's goals. Determined by senior management in the organization
to improve the value of the company to its stakeholders.
6. Subject
Matter SMOs. A person who is an authority in a particular area or project.
Experts
7. Program A group of related projects.
8. Portfolio A group of initiatives (projects and programs) that a company engages in
improve its operations.
9. Charter The definition of a project according to stakeholders. Defines how
customer will determine if project met expectations. Includes a
beginning, work steps, and clear and defined end.
10. Business Case The justification for a project - Explains the business need.
1/
60
,C722 Project Management - Study Guide assessment verified to
pass updated 2025
11. Project Life Defining, Planning Executing, Closing
Cycle Phases
12. Defining Where detailed planning occurs. Level of detail aligns with complexity of
project. Use Work Breakdown Structure to identify outcomes needed.
Can require significant time for large projects.
Typically ends when baselines for scope, budget, and schedule are
approved by customer and/or sponsor and project team.
13. Executing Where most of the work is done.
Deliverables are completed. Progress is monitored and actions taken as
needed to stay on track.
May return to planning phase as needed if objectives can't be met, to
modify budget, schedule, or scope.
Critical to be careful of scope creep—don't add functionality without
considering impact.
This phase is complete when all work activities and deliverables are ready
to be delivered to customer/sponsor.
14. Closing When project outcomes are delivered to the customer and/or sponsor.
Project Manager ties up loose ends:
-Reassign project resources back to company
-Document project results and lessons learned
-Close out procurement activities
-Verify completed project is transitioned to customer
2/
60
, C722 Project Management - Study
Guide
15. SMART Goals Specific
Measurable
Achievable
Relevant
Time Based
16. Project The act of running a project and encompasses the use of general
Manage- ment management or specific project management knowledge, skills, tools,
and techniques to ensure that the project meets its goals.
17. Aspects of
Stakeholder Relations
pro- ject
Managing Interdependent
manage-
Tasks Managing Volatility
ment
Communications
Schedule
Development Work
Breakdown
PERT charts
Risk Management
18. Project Sponsor The individual (often manager or executive) with overall accountability for
project. Primarily concerned with ensuring project delivers agreed upon
benefits.
19. Project Manager The people who guide projects. Need 10 competencies:
Integration management - includes processes/activities needed to
identify, de- fine, and coordinate various processes and project
management activities.
Scope management - includes the processes that ensure that all the
work required is identified to complete the project successfully.
Time management - includes the processes required to manage the
timely com- pletion of the project.
, C722 Project Management - Study
Guide
Cost management - includes the processes involved in planning,
estimating, budgeting, managing, and controlling costs so that the
project can be completed within the approved budget.
pass updated 2025
1. Projects A temporary activity that creates a unique result.
Initiatives with specific goals and start and end dates. Develops a new
product or service, reduce costs, add technology, etc.
2. Operations Day-to-day activities in an organization. Continuous & ongoing.
3. Product Something created by a project.
4. Business An imagined or projected sequence of events that is representative of a
Sce- nario significant business need or problem & enables vendors to understand th
value to the customer organization of a developed solution.
Business Scenarios have this information:
-Past events that are relevant
-Current key information
-Expected or desired outcomes
5. Business
Strate- gy The activities, methods, tactics, etc. that will be employed to meet the
business's goals. Determined by senior management in the organization
to improve the value of the company to its stakeholders.
6. Subject
Matter SMOs. A person who is an authority in a particular area or project.
Experts
7. Program A group of related projects.
8. Portfolio A group of initiatives (projects and programs) that a company engages in
improve its operations.
9. Charter The definition of a project according to stakeholders. Defines how
customer will determine if project met expectations. Includes a
beginning, work steps, and clear and defined end.
10. Business Case The justification for a project - Explains the business need.
1/
60
,C722 Project Management - Study Guide assessment verified to
pass updated 2025
11. Project Life Defining, Planning Executing, Closing
Cycle Phases
12. Defining Where detailed planning occurs. Level of detail aligns with complexity of
project. Use Work Breakdown Structure to identify outcomes needed.
Can require significant time for large projects.
Typically ends when baselines for scope, budget, and schedule are
approved by customer and/or sponsor and project team.
13. Executing Where most of the work is done.
Deliverables are completed. Progress is monitored and actions taken as
needed to stay on track.
May return to planning phase as needed if objectives can't be met, to
modify budget, schedule, or scope.
Critical to be careful of scope creep—don't add functionality without
considering impact.
This phase is complete when all work activities and deliverables are ready
to be delivered to customer/sponsor.
14. Closing When project outcomes are delivered to the customer and/or sponsor.
Project Manager ties up loose ends:
-Reassign project resources back to company
-Document project results and lessons learned
-Close out procurement activities
-Verify completed project is transitioned to customer
2/
60
, C722 Project Management - Study
Guide
15. SMART Goals Specific
Measurable
Achievable
Relevant
Time Based
16. Project The act of running a project and encompasses the use of general
Manage- ment management or specific project management knowledge, skills, tools,
and techniques to ensure that the project meets its goals.
17. Aspects of
Stakeholder Relations
pro- ject
Managing Interdependent
manage-
Tasks Managing Volatility
ment
Communications
Schedule
Development Work
Breakdown
PERT charts
Risk Management
18. Project Sponsor The individual (often manager or executive) with overall accountability for
project. Primarily concerned with ensuring project delivers agreed upon
benefits.
19. Project Manager The people who guide projects. Need 10 competencies:
Integration management - includes processes/activities needed to
identify, de- fine, and coordinate various processes and project
management activities.
Scope management - includes the processes that ensure that all the
work required is identified to complete the project successfully.
Time management - includes the processes required to manage the
timely com- pletion of the project.
, C722 Project Management - Study
Guide
Cost management - includes the processes involved in planning,
estimating, budgeting, managing, and controlling costs so that the
project can be completed within the approved budget.
