Module 1

Question 1

5 Process Groups

Answer 1

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

Question 2

What is a Project?

Answer 2

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

Question 3

What is a Portfolio?

Answer 3

A collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic objectives

Question 4

What is a Program?

Answer 4

A group of related projects managed in a coordinated way to obtain benefits and control not available from managing individually

Question 5

What is Project Management?

Answer 5

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

Question 6

What is Portfolio Management?

Answer 6

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

Question 7

What is Program Management?

Answer 7

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

Question 8

4 Phases of the Project Life Cycle

Answer 8

Initiating, Planning, Performing, Closing

Question 9

Describe Phase 1 of the Project Life Cycle

Answer 9

Initiating: Identifying a need, problem or opportunity

Question 10

Describe Phase 2 of the Project Life Cycle

Answer 10

Planning: Developing a proposed solution to the need or problem

Question 11

Describe Phase 3 of the Project Life Cycle

Answer 11

Performing: Performing the project

Question 12

Describe Phase 4 of the Project Life Cycle

Answer 12

Closing: Terminating the project

Question 13

Project Management Processes 1: Initiating

Answer 13

Define a new project or a new phase of an existing project by obtaining authorization to start the project or phase

Question 14

Project Management Processes 2: Planning

Answer 14

Establish the scope of the project, refine the objectives, define the course of action required to attain the objectives that the project was undertaken to achieve

Question 15

Project Management Processes 3: Executing

Answer 15

Complete the work defined in the project management plan to satisfy the project specifications

Question 16

Project Management Processes 4: Monitoring and Controlling

Answer 16

Track, review, and regulate the progress and performance of a project, identify the areas in which changes to the plan are required, and initiate changes

Question 17

Project Management Processes 5: Closing

Answer 17

Finalize all activities across the process groups to formally close the project or phase

Question 18

10 Knowledge Management Areas

Answer 18

Integration, Scope, Schedule, Cost, Quality, Resource, Communication, Risk, Procurement and Stakeholder Management