Exam 2026 Actual Complete Real Exam
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Why would a project require an executive sponsor according to the Project
Management Institute (PMI)?
ANSWERS: To provide financial resources for a project
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What is a program evaluation and review technique (PERT) chart?
ANSWERS: A graphical network model that depicts a project's tasks and the
relationships between those tasks
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Which factor is a primary reason for project failure?
ANSWERS: The balance of the triple constraints
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What is agile methodology?
ANSWERS: A methodology that aims for customer satisfaction through early and
continual delivery of useful software components developed by an iterative
process with a design point that uses the bare minimum requirements
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What is waterfall methodology?
ANSWERS: A sequence of phases in which the output of each phase becomes
the input for the next
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What is the systems development life cycle (SDLC)?
ANSWERS: The overall process for developing information systems, from
planning and analysis through implementation and maintenance
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ANSWERS: What is the definition of project scope?
The need, justification, requirements, and current boundaries for a project
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What is a value chain analysis?
ANSWERS: A business tool that views a firm as a series of business processes
that add value to a product or service
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What is the definition of Porter's three generic strategies?
ANSWERS: A business strategy involving methods that are neither organization-
nor industry-specific and can be applied to any business, product, or service
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ANSWERS: What is an assessment of the competitive forces within the
environment in which a company operates to evaluate the potential for
profitability in an industry?
Porter's five forces model
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What is a SWOT analysis?
ANSWERS: An evaluation of an organization's strengths, weaknesses,
opportunities, and threats to identify significant influences that work for or
against business strategies
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ANSWERS: Which supply chain activity includes building relationships with
suppliers to procure raw materials?
Source
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supplier power
ANSWERS: The supplier's ability to influence the price they charge for supplies,
including material labor and service
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threat of substitute products or services
ANSWERS: This is high when there are many alternatives to a product or service
and low when they are a few alternatives from which to choose.
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workflow control systems
ANSWERS: Monitors processes to ensure tasks, activities, and responsibilities
are executed as specified
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static process
ANSWERS: Continuously uses a systematic approach in an attempt to improve
business effectiveness and efficiency