Project Management Basics

Question 1

Characteristics of a Project

Answer 1

Projects are temporary with a defined beginning and end.

Question 2

Definition of a Program

Answer 2

A group of related projects managed together for better coordination.

Question 3

Components of a Portfolio

Answer 3

Consists of projects, programs, and sometimes operations.

Question 4

Purpose of a Program

Answer 4

To coordinate and manage related projects more effectively.

Question 5

Importance of Project Management

Answer 5

Ensures project requirements are met within budget, time, and quality standards.

Question 6

Purpose of Program Management

Answer 6

To decrease risks within a program and prevent conflicts.

Question 7

Necessity of Program Management

Answer 7

Required if it adds value to the projects within the program.

Question 8

Need for Portfolio Management

Answer 8

To achieve organizational success and manage risks and resources effectively.

Question 9

Difference Between Operation and Project

Answer 9

Operations are ongoing and repetitive, while projects are temporary and unique.

Question 10

PMO Authority

Answer 10

Directive PMO has the highest authority.

Question 11

Purpose of Organizational Governance

Answer 11

To meet high-level strategic goals of the organization.

Question 12

PMO and Project Governance

Answer 12

PMO provides and implements Project Governance.

Question 13

Authority of Supportive PMO

Answer 13

Has the least authority over projects.

Question 14

Authority in Functional Organization

Answer 14

Functional Managers have the most power to manage projects.

Question 15

Project-Oriented Organization

Answer 15

Project Managers have full responsibility for the project budget.

Question 16

Characteristic of Multi-divisional Organizations

Answer 16

Each division operates independently.

Question 17

Hybrid Organizational Structure

Answer 17

Has characteristics of Balanced Matrix organizations; PM Administrative Staff can be part-time or full-time.

Question 18

Disadvantage of Matrix Organizations

Answer 18

Communication and coordination challenges.

Question 19

Project-Oriented Structure Advantages

Answer 19

Highest authority for Project Manager; high sense of belonging among team members.

Question 20

Project Manager’s One of the Crucial Objectives in Predictive Environments

Answer 20

Completing the project on time and within budget without scope creep.

Question 21

Value Addition by Project Manager

Answer 21

Being proactive and preventing problems.

Question 22

Project Manager Involvement

Answer 22

Better to involve before the initiation phase.

Question 23

Responsibility for Project Charter

Answer 23

Project Sponsor is responsible but Project Manager assists in creating the Project Charter.

Question 24

Who are Stakeholders?

Answer 24

Anyone who affects or is affected by the project.

Question 25

One of the Major Project Sponsor Responsibilities

Answer 25

Financing the project and preventing unnecessary changes.

Question 26

Project Manager's Role in Change Requests

Answer 26

Managing the change control board.

Question 27

Project Sponsor vs. Project Manager

Answer 27

Sponsor provides finance, Manager manages the budget.

Question 28

Project Manager's Role in Communication

Answer 28

Ensuring effective coordination within the project.

Question 29

Project Team Members' Responsibilities (Related to Risk Management)

Answer 29

Identifying risks and participating in risk identification activities.

Question 30

Program Manager's Role

Answer 30

Manages a group of related projects to achieve strategic goals.

Question 31

Portfolio Manager vs. Program Manager

Answer 31

Portfolio Manager provides coordination between Programs, Projects, and Operations.

Question 32

Functional Manager in Change Control

Answer 32

Has a role in approving changes to the project.

Question 33

Program Manager's Relationship with Project Managers

Answer 33

Provides coordination between the projects within the Program.

Question 34

Five Process Groups in Project Management

Answer 34

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

Question 35

Predictive Life Cycle

Answer 35

Involves creating a full detailed plan at the beginning of the project.

Question 36

Predictive vs. Adaptive Life Cycle

Answer 36

Predictive is sequential with a detailed plan; Adaptive is iterative and evolves.