Ch 1.2: Foundational Elements

Question 1

Project

Answer 1

A temporary endeavor to create a unique product service or result (fills objectives by producing results)

Question 2

Objective

Answer 2

an outcome towards which work be directed, a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced or a service to be performed

Question 3

Deliverable

Answer 3

any uniye and verifiable product, result or capability to perform a service that is required to be produced to complete a process, phase or project

Question 4

Deliverables can be both tangible or intangible. True or False

Answer 4

True

Question 5

What are the four deliverables a fulfilled project can produce

Answer 5

A unique product, A unique service, A unique result, or Unique combination

Question 6

Temporary Endeavor

Answer 6

A project has a definite beginning and end

Question 7

True or False? Deliverables never exist beyond the end of a project

Answer 7

False, some deliverables may exist after completion of projects

Question 8

Business Value

Answer 8

the benefits that the results of a specific project provides to its stakeholders

Question 9

What are the four fundamental categories that influences organizational leaders to initiate projects

Answer 9

1.Meet regulatory, legal, or social requirements 2. Satisfy stakeholder requests or needs 3. Implement or change business or technological strategies 4. Create improve or fix products processes or services

Question 10

What are the three scenarios a project may be manged in

Answer 10

Stand Alone Project, Within a Program, Within a Portfolio

Question 11

Program Management

Answer 11

the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available managing a program component individually

Question 12

Project Management

Answer 12

focuses on interdependencies within a project to determine the optimal approach for managing the project

Question 13

Portfolio

Answer 13

projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives

Question 14

Portfolio management

Answer 14

the centralized management of one or more portfolios to achieve strategic objectives

Question 15

Operations Management

Answer 15

being concerned with the ongoing production of goods and/or services. Ensures that business operations continue efficiently by using the optimal resources needed to meet customer demands

Question 16

True or False? Projects can intersect with operations various points during the life cycle

Answer 16

True

Question 17

How does a Portfolio manager contributes to the achievement of strategic goals

Answer 17

They aligns portfolios with organizational strategies by selecting the right programs or projects,
prioritizing the work, and providing the needed resources.

Question 18

How does a Program Manager contributes to the achievement of strategic goals

Answer 18

they harmonizes its program components and controls interdependencies in order to realize
specified benefits.

Question 19

How does a Project Manager contributes to the achievement of strategic goals

Answer 19

they enable the achievement of organizational goals and objectives.

Question 20

Organizational Project management

Answer 20

a framework in which portfolio, program, and project management are integrated with organizational enablers in order to
achieve strategic objectives.

Question 21

True or False? The purpose of OPM is to ensure that the organization undertakes the right projects and allocates critical resources
appropriately.

Answer 21

True

Question 22

Project Life Cycle

Answer 22

The series of phases that a project passes through from its start to its completion

Question 23

Project phase

Answer 23

A collection of logical related project activities that culminates in the completion of one or more deliverables

Question 24

phase gate

Answer 24

A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification or to end a program or project

Question 25

Project management processes

Answer 25

A systematic series of activities directed toward causing an end result where one or more inputs will be acted upon to create one or more outputs

Question 26

A Project Management Process grouop

Answer 26

A logical grouping of project management inputs tools and techniques and outputs. this includes initiation, planning, executing, monitoring and controlling, and closing

Question 27

Project management knowledge area

Answer 27

an identified area of project management defined by its knowledge requirements and described in terms of its component processes , practices, inputs, outputs, tools and techniques

Question 28

Predictive Life Cycle

Answer 28

where the project score, time, and cast are determined in the early phases of the life cycle. Any changes to the scope are carefully managed

Question 29

Iterative Life Cycle

Answer 29

the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team's understanding of the product increases.

Question 30

Incremental Life Cycle

Answer 30

the deliverable i produced through a series of iterations that successively add functionality within a predetermined time frame

Question 31

Adaptive Life cycle

Answer 31

agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration.

Question 32

Hybrid life cycle

Answer 32

a combination of predictive and adaptive life cycle.

Question 33

Product life cycle

Answer 33

a series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement

Question 34

Initiating Process Group

Answer 34

processes performed to define a new project or phase by obtaining authorizatin to start the project or phase

Question 35

planning process group

Answer 35

processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.

Question 36

executing process group

Answer 36

those processes performed to complete the work defined in the project management plan to satisfy the project requirements

Question 37

Monitoring and Controlling Process Group

Answer 37

Processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes

Question 38

Closing Process Group

Answer 38

processes performed to formally complete or close the project, phase, or contract

Question 39

Project Integration Management

Answer 39

includes the processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management � Process Groups.

Question 40

Project Scope Management

Answer 40

Includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully.

Question 41

Project Schedule Management

Answer 41

the processes required to manage the timely completion of the project

Question 42

Project Cost Management.

Answer 42

Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.

Question 43

Project Quality Management.

Answer 43

Includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholders’ expectations.

Question 44

Project Resource Management.

Answer 44

Includes the processes to identify, acquire, and manage the resources needed for the successful completion of the project.

Question 45

Project Communications Management

Answer 45

Includes the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information.

Question 46

Project Risk Management

Answer 46

Includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation, and monitoring risk on a project.

Question 47

Project Procurement Management

Answer 47

Includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team.

Question 48

Project Stakeholder Management.

Answer 48

Includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

Question 49

Work performance data.

Answer 49

The raw observations and measurements identified during activities performed to carry out the project work. ie start finished dates, # of projects completed, etc

Question 50

Work performance information.

Answer 50

The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas. ie forecast estimates, statues of deliverables, etc

Question 51

Work performance reports

Answer 51

The physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness.

Question 52

methodology

Answer 52

a system of | practices, techniques, procedures, and rules used by those who work in a discipline.

Question 53

Project business case

Answer 53

A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis forthe authorization of further project management activities.

Question 54

Project benefits management plan

Answer 54

The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project.

Question 55

The person who is generally accountable for the development and maintenance of the project business case document.

Answer 55

Project Sponsor

Question 56

The person responsible for providing recommendations and oversight to keep the project business case, project management plan, project charter, and project benefits management plan success measures in alignment with one another and with the goals and objectives of the organization

Answer 56

project manager

Question 57

What are some elements included in a business cass

Answer 57

Business needs, Analysis of the situation, Recommendations, and Evaluation

Question 58

The project benefits management plan includes:

Answer 58

Target benefits, strategic alignment, timeframe for realizing benefits, benefits owner, metrics, assumptions, risks

Question 59

Target benefits

Answer 59

the expected tangible and intangible value to be gained by the implementation of the project; financial value is expressed as net present value

Question 60

Strategic alignment

Answer 60

how well the project benefits align to the business strategies of the organization

Question 61

Timeframe for realizing benefits

Answer 61

benefits by phase, short-term, long-term, and ongoing

Question 62

benefits owner

Answer 62

the accountable person to monitor, record, and report realized benefits throughout the timeframe established in the plan

Question 63

Metrics

Answer 63

the measures to be used to show benefits realized, direct measures, and indirect measures

Question 64

Assumptions

Answer 64

factors expected to be in place or to be in evidence

Question 65

project charter

Answer 65

a document issued by the project sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

Question 66

project management plan

Answer 66

the document that describes how the project will be executed, monitored, and controlled.