WGU PROJECT
MANAGEMENT
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✓ This Exam contains: WGU Project Management
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Trusted by thousands of students and professionals worldwide Page 1 of 38
,Question 1
A Guide to Project Management Body of Knowledge (PMBOK Guide)
Correct Answer
The project management standard developed by the Project Management Institute.
Question 2
Benefit measurement methods
Correct Answer
A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating
them using the same criteria and comparing the results.
Question 3
Co-located
Correct Answer
When team members work together at the same physical location
Question 4
Constrained optimization models
Correct Answer
Decision models that use complex principles of statistics and other mathematical concepts to assess a proposed
project.
Question 5
Cost-benefit analysis
Correct Answer
A commonly used benefit measurement method that calculates the cost of producing the product, service, or result
of the project and compares this to the financial gain the project is expected to generate.
Question 6
Decision model
Correct Answer
A formal method of project selection that helps managers make the best use of limited budgets and human
resources. Includes benefit measurement methods and constrained optimization models.
Question 7
Discounted cash flow (DCF)
Correct Answer
Compares the value of the future cash flows of the project to today's dollars.
Trusted by thousands of students and professionals worldwide Page 2 of 38
,Question 8
Economic model
Correct Answer
A type of benefit measurement method. It is a series of financial calculations that provide data on the overall
financials of the project and is generally used as a project selection technique.
Question 9
Expert judgment
Correct Answer
A technique used in project selection, determining estimates, and determining other related project information that
relies on the knowledge of those with expertise on the requested subject matter. Expert judgment can come from,
stakeholders, other departments, consultants, team members, vendors, or industry groups.
Question 10
Feasibility study
Correct Answer
Undertaken to determine whether the project is a viable project, the probability of project success, and the viability
of the product of the project
Question 11
Functional organization
Correct Answer
A form of organizational structure. Functional organizations are traditional organizations with hierarchical reporting
structures.
Question 12
Internal rate of return (IRR)
Correct Answer
The discount rate when the present value of the cash inflows equals the original investment. Projects with higher IRR
values are generally considered better than projects with lower IRR values. Assumes that cash inflows are reinvested
at the IRR value.
Question 13
Matrix organization
Correct Answer
An organizational structure where employees report to one functional manager and at least on project manager.
Functional managers assign employees to projects and carry out administrative duties, while project managers
assign tasks associated with the project to team members and execute the project.
Trusted by thousands of students and professionals worldwide Page 3 of 38
, Question 14
Net present value
Correct Answer
Evaluation of the cash inflows using the discounted cash flow technique, which is applied to each period the inflows
are expected. NPV subtracts the initial project investment from the total cash flow in today's dollars. It is similar to
discounted cash flows.
Question 15
Operations
Correct Answer
Operations typically involve ongoing functions that support the production of goods or services. They don't have a
beginning or an end.
Question 16
Payback period
Correct Answer
The length of time it takes a company to recover the initial cost of producing the product or service of the project.
Question 17
Program
Correct Answer
A grouping of related projects that are managed together to capitalize on benefits that couldn't be achieved if the
projects were managed separately.
Question 18
Project
Correct Answer
Temporary in nature, with a definite start and end date; creates a unique product, service, or result. It is completed
when the goals and objectives of the project have been met and signed off on by the stakeholders.
Question 19
Project management
Correct Answer
Applying skills, knowledge, and project management tools and techniques to fulfill the project requirements.
Question 20
Project Management Institute (PMI)
Correct Answer
The world's leading professional project management association.
Trusted by thousands of students and professionals worldwide Page 4 of 38
MANAGEMENT
250+ (Latest 2025-2026 Edition) 100%
Verified Q&A + Answer Key Solutions
100% Guarantee Pass
✓ This Exam contains: WGU Project Management
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
Trusted by thousands of students and professionals worldwide Page 1 of 38
,Question 1
A Guide to Project Management Body of Knowledge (PMBOK Guide)
Correct Answer
The project management standard developed by the Project Management Institute.
Question 2
Benefit measurement methods
Correct Answer
A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating
them using the same criteria and comparing the results.
Question 3
Co-located
Correct Answer
When team members work together at the same physical location
Question 4
Constrained optimization models
Correct Answer
Decision models that use complex principles of statistics and other mathematical concepts to assess a proposed
project.
Question 5
Cost-benefit analysis
Correct Answer
A commonly used benefit measurement method that calculates the cost of producing the product, service, or result
of the project and compares this to the financial gain the project is expected to generate.
Question 6
Decision model
Correct Answer
A formal method of project selection that helps managers make the best use of limited budgets and human
resources. Includes benefit measurement methods and constrained optimization models.
Question 7
Discounted cash flow (DCF)
Correct Answer
Compares the value of the future cash flows of the project to today's dollars.
Trusted by thousands of students and professionals worldwide Page 2 of 38
,Question 8
Economic model
Correct Answer
A type of benefit measurement method. It is a series of financial calculations that provide data on the overall
financials of the project and is generally used as a project selection technique.
Question 9
Expert judgment
Correct Answer
A technique used in project selection, determining estimates, and determining other related project information that
relies on the knowledge of those with expertise on the requested subject matter. Expert judgment can come from,
stakeholders, other departments, consultants, team members, vendors, or industry groups.
Question 10
Feasibility study
Correct Answer
Undertaken to determine whether the project is a viable project, the probability of project success, and the viability
of the product of the project
Question 11
Functional organization
Correct Answer
A form of organizational structure. Functional organizations are traditional organizations with hierarchical reporting
structures.
Question 12
Internal rate of return (IRR)
Correct Answer
The discount rate when the present value of the cash inflows equals the original investment. Projects with higher IRR
values are generally considered better than projects with lower IRR values. Assumes that cash inflows are reinvested
at the IRR value.
Question 13
Matrix organization
Correct Answer
An organizational structure where employees report to one functional manager and at least on project manager.
Functional managers assign employees to projects and carry out administrative duties, while project managers
assign tasks associated with the project to team members and execute the project.
Trusted by thousands of students and professionals worldwide Page 3 of 38
, Question 14
Net present value
Correct Answer
Evaluation of the cash inflows using the discounted cash flow technique, which is applied to each period the inflows
are expected. NPV subtracts the initial project investment from the total cash flow in today's dollars. It is similar to
discounted cash flows.
Question 15
Operations
Correct Answer
Operations typically involve ongoing functions that support the production of goods or services. They don't have a
beginning or an end.
Question 16
Payback period
Correct Answer
The length of time it takes a company to recover the initial cost of producing the product or service of the project.
Question 17
Program
Correct Answer
A grouping of related projects that are managed together to capitalize on benefits that couldn't be achieved if the
projects were managed separately.
Question 18
Project
Correct Answer
Temporary in nature, with a definite start and end date; creates a unique product, service, or result. It is completed
when the goals and objectives of the project have been met and signed off on by the stakeholders.
Question 19
Project management
Correct Answer
Applying skills, knowledge, and project management tools and techniques to fulfill the project requirements.
Question 20
Project Management Institute (PMI)
Correct Answer
The world's leading professional project management association.
Trusted by thousands of students and professionals worldwide Page 4 of 38
