1.03 Vocabulary

Question 1

are persons or organizations who are actively involved in the project or whose interest may be positively or negatively affected by the performance or completion of the project

Answer 1

Stakeholder

Question 2

The person or organization that will use the project’s product or service or result

Answer 2

Customer

Question 3

The person or group that provides the financial resources, in cash or in kind, for the project

Answer 3

Sponsor

Question 4

The centralized management of one or more portfolios, which includes identifying, prioritizing, authoring, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives

Answer 4

Portfolio Manager

Question 5

Charged with long-term business visioning, resource allocation, and resource optimization across the companies

Answer 5

Portfolio Review Board

Question 6

The centralized coordinated management of a program to achieve the program’s strategic objectives and benefits

Answer 6

Program Manager

Question 7

The centralized management of a particular programmer programs such that corporate benefit is realized by the sharing of resources, methodologies, tools, and techniques, and related high-level project management focus

Answer 7

Project Management Office

Question 8

Ensures that the project proceeds within specified time, within budget, and achieves its objectives

Answer 8

Project Manager

Question 9

Each project is different but most have these key players

Answer 9

Project Team

Question 10

Someone with management authority over an organizational unit within a functional organization. The manager of any group that actually makes a product or performs a service. Sometimes called a line manager.

Answer 10

Functional Manager

Question 11

Helps ensure that the company’s products and services meet quality standards

Answer 11

Operations Manager

Question 12

A hierarchical organization where each employee has one clear superior, staff are grouped by areas of specialization, and managed by a person with expertise in that area

Answer 12

Functional Organization

Question 13

The project manager has the least amount of decision-making power compared to the other matrix management types

Answer 13

Weak Matrix

Question 14

The department head and the project manager have equal authority and team members report to both of them

Answer 14

Balanced Matrix

Question 15

The project manager has most of the decision-making power over the project, while the department head has more limited authority

Answer 15

Strong Matrix

Question 16

Any organizational structure in which the project manager has full authority to assign priorities, apply resources, and direct the work of persons assigned to the project

Answer 16

Projectized Organization

Question 17

Any or all process related assets, from any or all of the organizations involved in the project that are or can be used to influence the project’s success. These process assets include formal and informal plans, policies, procedures, and guidelines. The process assets also include the organizations’ knowledge bases such as lessons learned and historical information

Answer 17

Organizational Process Alert

Question 18

Provides the storage space for the data, information and knowledge used in planning for an effective project

Answer 18

Corporate Knowledge Base