Sections 4-6: Project Management Terms, Principles, and Domains

Question 2

What are project management principles?

Answer 2

Foundational guidelines for strategy, decision-making, and problem-solving in projects.

Question 3

What are the four values of the PMI Code of Ethics?

Answer 3

Responsibility, Respect, Fairness, Honesty.

Question 4

What are the 12 principles of project management?

Answer 4

1. Stewardship
2. Collaborative Team Environment
3. Stakeholder Engagement
4. Focus on Value5.
5. System Thinking
6. Leadership
7. Tailoring
8. Quality Processes
9. Navigating Complexity
10. Risk Optimization
11. Adaptability
12. Enabling Change.

Question 5

Why is stewardship important in project management?

Answer 5

Ensures integrity, trust, compliance, and a commitment to financial, social, and environmental impacts.

Question 6

How can project teams create a collaborative environment?

Answer 6

By setting team agreements, defining clear roles, establishing trust, and enabling open communication.

Question 7

Why is stakeholder engagement crucial?

Answer 7

Stakeholders impact scope, budget, outcomes, and success; engagement ensures alignment and buy-in.

Question 8

What is systems thinking in project management?

Answer 8

A holistic approach to understanding how different project components interact and influence outcomes.

Question 9

How does leadership differ from authority in project management?

Answer 9

Leadership involves influence, motivation, and vision, while authority is the formal power to make decisions.

Question 10

Why is tailoring necessary in project management?

Answer 10

Each project is unique, and tailoring ensures processes fit the project’s specific needs.

Question 11

How can projects adapt to change effectively?

Answer 11

By incorporating adaptability and resilience, using iterative feedback loops, and fostering continuous learning.

Question 12

What is a project?

Answer 12

A temporary endeavor that produces a unique product, service, or result.

Question 13

What is the difference between project, program, and portfolio management?

Answer 13

A project is a single effort, a program is a group of related projects, and a portfolio is a collection of projects and programs.

Question 14

What is the role of a project manager?

Answer 14

Planning, executing, monitoring, and closing projects while managing risks, changes, and stakeholders.

Question 15

What are the key project constraints?

Answer 15

Scope, Schedule, Cost, Risk, Quality, and Resources.

Question 16

What are the key project phases?

Answer 16

Initiation, Planning, Execution, Monitoring & Controlling, and Closing.

Question 17

Who are key project stakeholders?

Answer 17

Project Manager, Customer, Team, Sponsor, Functional Manager.

Question 18

What are the two main project management approaches?

Answer 18

Predictive (Waterfall) and Adaptive (Agile).

Question 19

What is the difference between product and project management?

Answer 19

Product management focuses on the lifecycle of a product, while project management focuses on delivering a specific goal within constraints.

Question 20

What is a milestone?

Answer 20

A significant event in a project that marks a major achievement or phase completion.

Question 21

What is the purpose of a Project Management Office (PMO)?

Answer 21

Standardizing processes, providing support, and ensuring governance.

Question 22

What are project performance domains?

Answer 22

Interdependent areas of focus that work together to achieve project success.

Question 23

What is the stakeholder performance domain?

Answer 23

Managing relationships and engagement with stakeholders throughout the project.

Question 24

How can stakeholder engagement be improved?

Answer 24

Identify, Understand, Analyze, Prioritize, Engage, Monitor.

Question 25

What defines a high-performing project team?

Answer 25

Open communication, trust, collaboration, adaptability, empowerment, and shared ownership.

Question 26

What is servant leadership in project management?

Answer 26

A leadership style focused on developing and supporting the project team.

Question 27

What is the development approach and life cycle performance domain?

Answer 27

Selection of appropriate development methods (Predictive, Agile, Hybrid) and structuring the project lifecycle.

Question 28

What is the planning performance domain?

Answer 28

Ensures the project moves in an organized and deliberate manner while adapting to changes. * Deliberate * Holistic * Evolving * Time spent is appropriate * Planning is sufficient to manage expectations * Adaptation process included * Physical resources apply to any resource that is not a person * Procurements can happen at any time during a project * Thre will be changes throughout * Some changes are a result of risk assessment

Question 29

What is the project work performance domain?

Answer 29

Managing project activities, resources, and learning processes efficiently. *Efficient and effective project performance * Project processes are suitable for the project and enviornment * Appropriate communications with stakeholders * Efficient management of physical resources * Effective management of procurements * Improved team capability due to continuous learning and process improvement Define and balance constraints * Budget * Timeline * Resources * Outcomes

Question 30

How does project delivery impact success?

Answer 30

Ensuring scope and quality expectations are met and stakeholders are satisfied. *

Question 31

What is the measurement performance domain?

Answer 31

Monitoring project progress using KPIs, dashboards, and metrics.

Question 32

What is the uncertainty performance domain?

Answer 32

Identifying and managing risks, ambiguity, complexity, and volatility to keep the project aligned with objectives.