PMBOK Chapter 1 - Introduction

Question 1

What is a standard?

Answer 1

a formal document that describes established norms, methods, processes and practices

Question 2

What is a project?

Answer 2

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

Question 3

What is a portfolio?

Answer 3

a collection of projects, programs, subportfolios and operations managed as a group to achieve strategic objectives

Question 4

What are programs?

Answer 4

a group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually

Question 5

What is project management?

Answer 5

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

Question 6

What is progressive elaboration?

Answer 6

continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available

Question 7

What is organizational project management (OPM)?

Answer 7

a strategy execution framework utilizing project, program and portfolio management

Question 8

What is program management?

Answer 8

the application of knowledge, skills, tools and techniques to a program in order to meet program requirements

Question 9

What is portfolio management?

Answer 9

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

Question 10

What is a Project Management Office (PMO)?

Answer 10

a management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools and techniques

Question 11

Three Types of PMO Structures:

Answer 11

1) Supportive – provide a consultative role to projects by supplying templates, best practices, training etc
2) Controlling – provide support and require compliance through various means. the degree of control provided by the PMO is moderate
3) Directive – take control of the projects by directly managing the projects. degree of control provided by the PMO is high

Question 12

What is the primary function of the PMO?

Answer 12

to support project managers in a variety of ways

Question 13

What is operations management?

Answer 13

area of management concerned with ongoing production of goods and/or services.

Question 14

What are operations?

Answer 14

ongoing endeavors that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalized in a product life cycle

Question 15

What are project-based organizations (PBOs)?

Answer 15

refer to various organizational forms that create temporary systems for carrying out their work

Question 16

What is business value?

Answer 16

the entire value of the business; the total sum of all tangible and intangible elements

Question 17

What is a project manager?

Answer 17

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

Question 18

What is a functional manager focused on?

Answer 18

providing management oversight for a functional or a business unit, and operations managers are responsible for ensuring that business operations are efficient

Question 19

Effective project management requires that the project manager possess the following competencies:

Answer 19

1) Knowledge – refers to what the project manager knows about project management
2) Performance – refers to what the project manager is able to do or accomplish while applying his or her project management knowledge
3) Personal – refers to how the project management behaves when performing the project or related activity