Introduction to PMP

Question 1

Project

Answer 1

A temporary endeavor undertaken to create a unique product, service, or result

Question 2

Objective

Answer 2

An outcome toward which work is to be directed

Question 3

Deliverable

Answer 3

Any unique or verifiable product or result required to be produced to complete a process, phase, or project

Question 4

Business Value

Answer 4

The net quantifiable benefit derived from the business endeavor

Question 5

Project Initiation Context

Answer 5

4 fundamental categories: Meet regulatory requirements, satisfy stakeholder requests, implement or change business strategies, and create or improve a product/process

Question 6

Program

Answer 6

A group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually

Question 7

Portfolio

Answer 7

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

Question 8

Difference between Project and Program management?

Answer 8

Project management focuses on the project level whereas program management focuses on projects and other programs within a program to determine the optimal approach for managing them

Question 9

Project life cycle

Answer 9

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

Question 10

Project phase

Answer 10

A collection of logically related project activities that completes one or more deliverables

Question 11

Phase gate

Answer 11

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

Question 12

Project management process

Answer 12

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

Question 13

The 5 project management process groups are:

Answer 13

Initiating, Planning, Executing, Monitoring & Controlling, and Closing

Question 14

Project management knowledge area

Answer 14

Knowledge requirements of a project described in terms of its component processes, practices, inputs, outputs, tools, and techniques

Question 15

Two types of project life cycles

Answer 15

Predictive or adaptive

Question 16

The 5 developmental life cycles of a project are

Answer 16

Predictive, adaptive, iterative, incremental, or a hybrid model

Question 17

What is a predictive life cycle?

Answer 17

Life cycle, scope, time, and cost are determined early on. Any changes to the scope are carefully managed.

Question 18

A predictive life cycle is also known as

Answer 18

A waterfall life cycle

Question 19

What is a iterative life cycle?

Answer 19

Scope determined early on. Time and cost are routinely modified as the team becomes more knowledgeable on the project. Product developed through a series of repeated cycles

Question 20

What is a incremental life cycle?

Answer 20

The deliverable is produced through a series of iterations that successfully add functionality within a predetermined time frame. The deliverable is only considered complete after a successful final iteration

Question 21

What is an adaptive life cycle?

Answer 21

The detailed scope is defined before the start of an iteration

Question 22

Adaptive life cycles are:

Answer 22

Agile, iterative, or incremental

Question 23

An adaptive life cycle is also known as

Answer 23

An agile or a change driven life cycle

Question 24

What is a hybrid life cycle?

Answer 24

A combination of predictive and adaptive life cycles. Well known items or fixed timeline items are predictive. Developing items are adaptive

Question 25

What are some project phase attributes?

Answer 25

Name, number, duration, resource requirements, entrance criteria, and exit criteria

Question 26

Which documents are referred to during a phase gate review?

Answer 26

Project business case, project charter, project management plan, benefits management plan

Question 27

Project processes fall into what 3 categories?

Answer 27

Performed once, performed periodically, or performed continuously

Question 28

What is the initiation process group?

Answer 28

Defining a new project or phase of a project by obtaining authorization to start

Question 29

What is the planning process group?

Answer 29

Scope, objectives, and course of action are determined.

Question 30

What is the execution process group?

Answer 30

The work defined in the project management plan is completed to satisfy project requirements

Question 31

What is the monitoring & controlling process group?

Answer 31

The project is tracked, reviewed, or regulated to determine the performance of the project and if any changes are needed to the plan

Question 32

What is the closing process group?

Answer 32

The project or phase is formally completed

Question 33

What are the 10 project management knowledge areas?

Answer 33

Integration, scope, schedule, cost, quality, resource, communications, risk, procurement, and stakeholder management

Question 34

What does EEF stand for?

Answer 34

Enterprise environmental factor

Question 35

What is an EEF?

Answer 35

The environment you work in that can impact your project. Can be internal or external to an organization. These factors are not under the control of the project team. They influence and can constrain a project.

Question 36

Examples of EEFs

Answer 36

Organizational culture, legal restrictions, industry standards

Question 37

What does OPA stand for?

Answer 37

Organizational process assests

Question 38

What is an OPA?

Answer 38

Process related assests that can be used to influence the projects success. Two main categories: processes & procedures and organizational knowledge repositories

Question 39

Examples of OPAs

Answer 39

Standards, work instructions, templates, project files, historical information, financial databases

Question 40

Tailoring

Answer 40

Not every project follows the same processes, inputs, tools, techniques, outputs and life cycle phases. Each project is different and items from this list are refined for each project

Question 41

Project Business Case

Answer 41

A documented feasibility study used to establish the validity of the benefits that come from the project. Used as a basis of authorization for further project management activities

Question 42

Project Benefits Management Plan

Answer 42

The document explaining the processes for creating and maximizing the benefits of the project management plan

Question 43

Person in Charge of the Project Business Plan

Answer 43

The Project Sponsor

Question 44

Person who makes sure the project management documents are aligned with each other and with the goals and objectives of the company

Answer 44

The Project Manager

Question 45

What document lists the objectives and reasons for project initiation?

Answer 45

The Project Business Case

Question 46

What document is used as a go/no go for a project?

Answer 46

The Project Business Case

Question 47

What often precedes the Project Business Case?

Answer 47

A needs assessment

Question 48

The four steps to a Business Case:

Answer 48

Defining business needs; analysis of the situation, recommendations on the best approach to pursue the project, and an evaluation on the benefits the project will deliver

Question 49

Project Benefit Plan

Answer 49

Document that describes how the projects benefits will be delivered and the mechanisms in place to measure those benefits

Question 50

Project Charter

Answer 50

Document provided by the sponsor that gives the project life. Also provides the project manager with the organization resources needed for a project

Question 51

Project Management Plan

Answer 51

Document defining how the project will be defined, managed and controlled

Question 52

What three questions should be answered prior to the initiation of a project to help define success?

Answer 52

1) What does success look like for this project? 2) How will the success be measured? 3) What factors may impact success?

Question 53

NPV

Answer 53

Net present value

Question 54

ROI

Answer 54

Return on investment

Question 55

IRR

Answer 55

Internal rate of return

Question 56

PBP

Answer 56

Payback Period

Question 57

BCR

Answer 57

Benefit Cost Ratio