WGU C722 Project Management
Comprehensive Resource To Help You Ace
2026-2027.… Includes Frequently Tested
Questions With ELABORATED 100% Correct
COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!!
Current Update!!
1. A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Answer: The project management standard developed by the Project
Management Institute (PMI).
2. Benefit Measurement Methods
Answer: Decision models that compare the benefits of proposed projects
by evaluating them against the same criteria and comparing results.
3. Co-located
Answer: A team structure in which members work together at the same
physical location.
4. Constrained Optimization Models
Answer: Decision models that apply advanced statistical and mathematical
principles to assess proposed projects.
,5. Cost-Benefit Analysis
Answer: A benefit measurement method that compares the cost of
producing a project’s deliverable with the expected financial gain.
6. Decision Model
Answer: A formal project selection method that helps organizations allocate
limited budgets and human resources effectively; includes benefit
measurement and constrained optimization models.
7. Discounted Cash Flow (DCF)
Answer: A technique that compares the value of future cash flows to their
present-day value.
8. Economic Model
Answer: A benefit measurement method that uses financial calculations to
assess overall project financial viability and support project selection.
9. Expert Judgment
Answer: A technique that relies on subject matter experts—such as
stakeholders, consultants, vendors, or industry groups—to inform project
decisions and estimates.
10.Feasibility Study
Answer: An evaluation conducted to determine project viability, likelihood
of success, and feasibility of the project’s product or service.
11.Functional Organization
Answer: A traditional hierarchical organizational structure where
employees report to functional managers.
,12.Internal Rate of Return (IRR)
Answer: The discount rate at which the present value of cash inflows equals
the original investment; higher IRR values are generally preferred.
13.Matrix Organization
Answer: An organizational structure where employees report to both a
functional manager and one or more project managers.
14.Net Present Value (NPV)
Answer: The present value of expected cash inflows minus the initial
investment, calculated using discounted cash flow techniques.
15.Operations
Answer: Ongoing organizational activities that support production of goods
or services and do not have a defined end date.
16.Payback Period
Answer: The amount of time required to recover the initial cost of a project.
17.Program
Answer: A group of related projects managed together to achieve benefits
not available if managed independently.
18.Project
Answer: A temporary endeavor with a defined beginning and end that
creates a unique product, service, or result.
19.Project Management
Answer: The application of knowledge, skills, tools, and techniques to meet
project requirements.
, 20.Project Management Institute (PMI)
Answer: The world’s leading professional association for project
management.
21.Project Management Knowledge Areas
Answer: Integration, Scope, Schedule (Time), Cost, Quality, Resource
(Human Resource), Communications, Risk, Procurement, and Stakeholder
Management.
22.Project Management Office (PMO)
Answer: An organizational entity that standardizes project management
processes and methodologies.
23.Project Manager
Answer: The individual responsible for managing project activities and
achieving project objectives.
24.Project Performance Indicators
Answer: Metrics used to determine whether a project is progressing
according to schedule and budget baselines.
25.Project Plan
Answer: A collection of documents that define project scope, deliverables,
and management processes and guide execution and control.
26.Project Selection
Answer: The process used to determine which proposed projects are
approved to proceed.
Comprehensive Resource To Help You Ace
2026-2027.… Includes Frequently Tested
Questions With ELABORATED 100% Correct
COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!!
Current Update!!
1. A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Answer: The project management standard developed by the Project
Management Institute (PMI).
2. Benefit Measurement Methods
Answer: Decision models that compare the benefits of proposed projects
by evaluating them against the same criteria and comparing results.
3. Co-located
Answer: A team structure in which members work together at the same
physical location.
4. Constrained Optimization Models
Answer: Decision models that apply advanced statistical and mathematical
principles to assess proposed projects.
,5. Cost-Benefit Analysis
Answer: A benefit measurement method that compares the cost of
producing a project’s deliverable with the expected financial gain.
6. Decision Model
Answer: A formal project selection method that helps organizations allocate
limited budgets and human resources effectively; includes benefit
measurement and constrained optimization models.
7. Discounted Cash Flow (DCF)
Answer: A technique that compares the value of future cash flows to their
present-day value.
8. Economic Model
Answer: A benefit measurement method that uses financial calculations to
assess overall project financial viability and support project selection.
9. Expert Judgment
Answer: A technique that relies on subject matter experts—such as
stakeholders, consultants, vendors, or industry groups—to inform project
decisions and estimates.
10.Feasibility Study
Answer: An evaluation conducted to determine project viability, likelihood
of success, and feasibility of the project’s product or service.
11.Functional Organization
Answer: A traditional hierarchical organizational structure where
employees report to functional managers.
,12.Internal Rate of Return (IRR)
Answer: The discount rate at which the present value of cash inflows equals
the original investment; higher IRR values are generally preferred.
13.Matrix Organization
Answer: An organizational structure where employees report to both a
functional manager and one or more project managers.
14.Net Present Value (NPV)
Answer: The present value of expected cash inflows minus the initial
investment, calculated using discounted cash flow techniques.
15.Operations
Answer: Ongoing organizational activities that support production of goods
or services and do not have a defined end date.
16.Payback Period
Answer: The amount of time required to recover the initial cost of a project.
17.Program
Answer: A group of related projects managed together to achieve benefits
not available if managed independently.
18.Project
Answer: A temporary endeavor with a defined beginning and end that
creates a unique product, service, or result.
19.Project Management
Answer: The application of knowledge, skills, tools, and techniques to meet
project requirements.
, 20.Project Management Institute (PMI)
Answer: The world’s leading professional association for project
management.
21.Project Management Knowledge Areas
Answer: Integration, Scope, Schedule (Time), Cost, Quality, Resource
(Human Resource), Communications, Risk, Procurement, and Stakeholder
Management.
22.Project Management Office (PMO)
Answer: An organizational entity that standardizes project management
processes and methodologies.
23.Project Manager
Answer: The individual responsible for managing project activities and
achieving project objectives.
24.Project Performance Indicators
Answer: Metrics used to determine whether a project is progressing
according to schedule and budget baselines.
25.Project Plan
Answer: A collection of documents that define project scope, deliverables,
and management processes and guide execution and control.
26.Project Selection
Answer: The process used to determine which proposed projects are
approved to proceed.
