Foundations In Project Management

Question 0

Balancing scope, schedule, cost, quality, resources, and risk is managing the ______ ______.

Answer 0

Competing constraints. Balancing scope, schedule, cost, quality, resources, and risk is managing competing constraints, which are also known as competing “demands.”

Question 1

The project is unique and _________.

Answer 1

Temporary. Projects have a distinct beginning and end, as opposed to operations that are ongoing.

Question 2

Deciding how much rigor to apply to each process is _______.

Answer 2

Tailoring. You will tailor the project management process and tools you use to fit the needs of your project.

Question 3

True or false. A portfolio is a group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits and control not available from managing them individually.

Answer 3

False. The program, not a portfolio, is a group of related projects, programs, and related program activities managed in a coordinated way to obtain benefits and control not available from managing them individually.

Question 4

Market conditions and regulations are ______ ______ ______ that constrain how you manage your project.

Answer 4

Enterprise environmental factors. Market conditions and regulations are enterprise environmental factors that constrain how you can manage a project.

Question 5

Successive iterations of planning where each iteration gets into more detail is ______ ______.

Answer 5

Progressive elaboration. Progressive elaboration is a technique used to provide more detail when more information is known.

Question 6

Managing one or more portfolios to meet a strategic objectives is ______ ______.

Answer 6

Portfolio management. A portfolio of projects is grouped so that the organizations can achieve strategic objectives. The projects can be independent or interconnected.

Question 7

True or false. The following is an example of a technical advance: your organization initiates a project to improve the efficiency in operations.

Answer 7

False. Improving operations is a business need. Automating them would be a technological advance.

Question 8

True or false. In an administrative PMO, you will find a place that develops policies, procedures, templates, and forms to support project managers.

Answer 8

True. The administrative PMO creates processes and documents to provide a consistent way of applying project management in the organization.

Question 9

Project

Answer 9

A project is temporary and has a beginning and an end. Additionally, a project creates something unique.

Question 10

Operations

Answer 10

Operations are ongoing and produce identical or similar outputs.

Question 11

Product

Answer 11

An artifact or a component of an artifact. E.g. a new computer component; a new office park; a new factory.

Question 12

Service

Answer 12

A function or a series of steps and actions that support the business or stakeholder. E.g. process improvement; supply chain management; online support capabilities.

Question 13

Result

Answer 13

An outcome, information, or knowledge. E.g. market research; clinical trials; annual studies.

Question 14

Deliverable

Answer 14

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

Question 15

Program

Answer 15

A group of related projects, subprograms, and program activities managed to coordinate way to obtain benefits and control not available by managing them individually.

Question 16

Program management

Answer 16

The application of knowledge, skills, tools, and techniques to a program to meet the program requirements and obtain benefits and control not available by managing projects individually.

Question 17

Portfolio

Answer 17

Projects, programs, sub portfolios, and operations managed as a group to achieve strategic objectives.

Question 18

Portfolio management

Answer 18

The centralized management of one or more portfolios to achieve strategic objectives.

Question 19

Project management

Answer 19

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

Question 20

Project Manager (PM)

Answer 20

The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives.

Question 21

What are the six competing constraints?

Answer 21

Scope, quality, schedule, budget, resources, and risk.

Question 22

What seven strategic reasons for initiating a project does the PMBOK guide list?

Answer 22

Market demand; business need; social need; environmental considerations; customer request; technological advance; and legal requirements.

Question 23

Market demand

Answer 23

This can include projects to make operations more efficient and thereby increased profits.

Question 24

Business need

Answer 24

This can include projects to make operations more efficient and thereby increase net profits.

Question 25

Social need

Answer 25

Projects that improve the quality of life, such as improving literacy, drinking water, or reducing disease.

Question 26

Environmental consideration

Answer 26

This includes projects such as environmental remediation, improving air or water quality, or projects that reduce waste and environmental impact.

Question 27

Customer request

Answer 27

A customer request can occur via a bid process, or an existing customer can approach you and ask you to perform work.

Question 28

Technological advance

Answer 28

Anything that helps automate operations or helps your company do things better, faster, or less expensively.

Question 29

Legal requirements

Answer 29

What a new law or regulation is passed, you need to understand the implications and make sure your organization can comply.

Question 30

What makes up a company's culture?

Answer 30

A shared vision, values, and beliefs; policies and procedures; authority relationships, leadership, and hierarchy; work ethic, code of conduct, and work hours; risk tolerance; reward and motivation systems.

Question 31

Enterprise environmental factors

Answer 31

Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.

Question 32

What are some examples of enterprise environmental factors?

Answer 32

Standards, codes, and regulations; the organizations infrastructure, such as IT systems, supply-chain, and organizational structure; marketplace conditions, including the availability of material and technical skills; stakeholder risk tolerances and the ability to work with uncertainty; and extreme geography and weather.

Question 33

Project governance

Answer 33

Governance is a framework for conducting the project and includes: guidelines for aligning organizational and project governance; project lifecycle and phase reviews; decision-making processes; issue resolution procedures; change management procedures; project organizational chart and the relationship among the team, the organization, and external stakeholders.