WGU C722 PROJECT MANAGEMENT
TERMINOLOGY STUDY GUIDE
Portfolio - ANS a group of related programs that support a long-term company goal or
objective Pg 13
program - ANS a group of related projects Pg 13
project - ANS an activity or group of activities to generate a new, unique product, service, or
results to support that program Pg 13
charter - ANS a document that, like a contract, is agreed upon by the sponsor and key
stakeholders. It defines the project and authorizes the resources, roles, responsibilities,
authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely - ANS Criteria of specific objectives that are
unique to a project are referred to as SMART which stands for what Pg 15
triple constraint - ANS cost (budget), schedule (time), and scope (deliverables) Pg 17
stakeholder analysis - ANS analysis to define the relevant stakeholders, their interests, and
their communication needs Pg 19
Change Control Board (CCB) - ANS a group of people who track changes in a project and can
be used as a governance tool Pg 19
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 16
,Work Breakdown Structures (WBS) - ANS a key tool so that people understand what is
expected of them and how they will be held accountable Pg 21
Project Management Institute (PMI) - ANS Founded in 1969, it's headquartered in Newton,
PA, and has member chapters on every continent (except Antarctica). Publishes foundational
and practice standards and is the largest in the world. Pg 22
Association for Project Management (APM) - ANS A UK-based charter organization that is the
largest professional body of its kind in Europe. Formed in 1972, it's membership is primarily
limited to the United Kingdom. Pg 22
International Project Management Association (IPMA) - ANS the world's first project
management association, founded in 1965. The leading authority on competent project,
programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd - ANS a joint venture between the government of the United Kingdom and
Captia PLC. It was formed to manage and grow a number of standards and associated
certifications developed by the Cabinet office, including ITIL (Information Technology
Infrastructure Library), PRINCE2, and Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons - ANS Pros: Lines of authority are
clear; work is easily prioritized by identified departmental authority
Cons: Utilizing resources across functions can be difficult; project is not managed holistically
Projectized Organization pros and cons - ANS Pros: Clear lines of authority; project is
managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME assigned may not
have the most appropriate knowledge or expertise for the project
Matrix Organization pros and cons - ANS Pros: Central focus is the project; issues are
responded to quickly.
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 16
, Cons: Requires cooperation and coordination between and among functional departments and
project managers; resource balancing between projects can lead to friction.
project management office (PMO) - ANS A process for determining if the level of
documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level - ANS Determined by the comprehensiveness of written
procedures to accomplish tasks in each of the process areas identified by PMI. Pg 26
alignment - ANS Term used to describe connecting project outcomes to company goals. Pg 30
Realistic - ANS Model is appropriate to the level of resources available, the operating
environment, and capabilities of the company. Pg 31
Capable - ANS The model is able to apply the pertinent factors of the evaluation, including
time, risk, cost, and internal and external environment. Pg 31
Flexible - ANS Model should provide accurate measures across a reasonable range of
changing conditions. Pg 31
Easy to use - ANS The model is not difficult to learn and understand in a relatively short time;
provides results readily understandable to the user.. Pg 31
Low Cost - ANS Cost to run the model is economical relative to scale (budget) of project Pg 31
Comparable - ANS The model should be usable across a multitude of projects, and not be
project specific. Pg 31
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 16
TERMINOLOGY STUDY GUIDE
Portfolio - ANS a group of related programs that support a long-term company goal or
objective Pg 13
program - ANS a group of related projects Pg 13
project - ANS an activity or group of activities to generate a new, unique product, service, or
results to support that program Pg 13
charter - ANS a document that, like a contract, is agreed upon by the sponsor and key
stakeholders. It defines the project and authorizes the resources, roles, responsibilities,
authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely - ANS Criteria of specific objectives that are
unique to a project are referred to as SMART which stands for what Pg 15
triple constraint - ANS cost (budget), schedule (time), and scope (deliverables) Pg 17
stakeholder analysis - ANS analysis to define the relevant stakeholders, their interests, and
their communication needs Pg 19
Change Control Board (CCB) - ANS a group of people who track changes in a project and can
be used as a governance tool Pg 19
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 16
,Work Breakdown Structures (WBS) - ANS a key tool so that people understand what is
expected of them and how they will be held accountable Pg 21
Project Management Institute (PMI) - ANS Founded in 1969, it's headquartered in Newton,
PA, and has member chapters on every continent (except Antarctica). Publishes foundational
and practice standards and is the largest in the world. Pg 22
Association for Project Management (APM) - ANS A UK-based charter organization that is the
largest professional body of its kind in Europe. Formed in 1972, it's membership is primarily
limited to the United Kingdom. Pg 22
International Project Management Association (IPMA) - ANS the world's first project
management association, founded in 1965. The leading authority on competent project,
programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd - ANS a joint venture between the government of the United Kingdom and
Captia PLC. It was formed to manage and grow a number of standards and associated
certifications developed by the Cabinet office, including ITIL (Information Technology
Infrastructure Library), PRINCE2, and Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons - ANS Pros: Lines of authority are
clear; work is easily prioritized by identified departmental authority
Cons: Utilizing resources across functions can be difficult; project is not managed holistically
Projectized Organization pros and cons - ANS Pros: Clear lines of authority; project is
managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME assigned may not
have the most appropriate knowledge or expertise for the project
Matrix Organization pros and cons - ANS Pros: Central focus is the project; issues are
responded to quickly.
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 16
, Cons: Requires cooperation and coordination between and among functional departments and
project managers; resource balancing between projects can lead to friction.
project management office (PMO) - ANS A process for determining if the level of
documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level - ANS Determined by the comprehensiveness of written
procedures to accomplish tasks in each of the process areas identified by PMI. Pg 26
alignment - ANS Term used to describe connecting project outcomes to company goals. Pg 30
Realistic - ANS Model is appropriate to the level of resources available, the operating
environment, and capabilities of the company. Pg 31
Capable - ANS The model is able to apply the pertinent factors of the evaluation, including
time, risk, cost, and internal and external environment. Pg 31
Flexible - ANS Model should provide accurate measures across a reasonable range of
changing conditions. Pg 31
Easy to use - ANS The model is not difficult to learn and understand in a relatively short time;
provides results readily understandable to the user.. Pg 31
Low Cost - ANS Cost to run the model is economical relative to scale (budget) of project Pg 31
Comparable - ANS The model should be usable across a multitude of projects, and not be
project specific. Pg 31
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 16
