INEN 406 - EXAM 1 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

INEN 406 - EXAM 1 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Agile Project Management (Agile PM) - Answers A family of iterative, incremental development methods for completing projects. Program - Answers A group of related projects designed to accomplish a common goal over an extended period of time Project - Answers A temporary endeavor undertaken to create a unique product, service, or result Project Life Cycle - Answers The stages found in all projects—definition, planning, execution, and closing. Project Management Professional (PMP) - Answers An individual who has met specific education and experience requirements set forth by the Project Management Institute, has agreed to adhere to a code of professional conduct, and has passed an examination designed to objectively assess and measure project management knowledge. In addition, a PMP must satisfy continuing certification requirements or lose the certification. Implementation Gap - Answers The lack of consensus between the goals set by top management and those independently set by lower levels of management. This lack of consensus leads to confusion and poor allocation of organizational resources. Net Present Value (NPV) - Answers A minimum desired rate of return discount (e.g., 15 percent) is used to compute present value of all future cash inflows and outflows. Organization Politics - Answers Actions by individuals or groups of individuals to acquire, develop, and use power and other resources to obtain preferred outcomes when there is uncertainty or disagreement over choices. Payback - Answers The time it takes to pay back the project investment (investment/net annual savings). The method does not consider the time value of money or the life of the investment. Phase Gate Model - Answers A structured process to review and evaluate each project phase to determine whether to continue, revise, or cancel the project. Priority System - Answers The process used to select projects. The system uses selected criteria for evaluating and selecting projects that are strongly linked to higher-level strategies and objectives. Priority Team - Answers The group (sometimes the project office) responsible for selecting, overseeing, and updating project priority selection criteria. Project Portfolio - Answers A group of projects that have been selected for implementation, balanced by project type, risk, and ranking by selected criteria. Project Sponsor - Answers Typically a high-ranking manager who champions and supports a project. Sacred Cow - Answers A project that is a favorite of a powerful management figure, who is usually the champion for the project. Strategic Management - Answers The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there." Strategy describes how an organization intends to compete with the resources available in the existing and perceived future environment. Balanced Matrix - Answers A matrix structure in which the project manager and functional managers share roughly equal authority over the project. The project manager decides what needs to be done; functional managers are concerned with how it will be accomplished. Dedicated Project Team - Answers An organizational structure in which all of the resources needed to accomplish a project are assigned full time to the project. Matrix - Answers Any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of individuals assigned to the project. Organizational Culture - Answers A system of shared norms, beliefs, values, and assumptions held by an organization's members. Projectitis - Answers A condition in which team members become strongly attached to their project and disconnected from the larger organization. Projectized Organization - Answers A multi-project organization in which project managers have full authority to assign priorities and direct the work of persons assigned to their project. Project Management Office (PMO) - Answers A centralized unit within an organization or a department that oversees and improves the management of projects. Strong Matrix - Answers A matrix structure in which the project manager has primary control over project activities and functional managers support project work. Weak Matrix - Answers A matrix structure in which functional managers have primary control over project activities and the project manager coordinates project work. Acceptance Criteria - Answers A list of conditions that must be met before deliverables are accepted. Cost Account - Answers A control point of one or more work packages used to plan, schedule, and control the project. The sum of all represents the total cost of the project. Gold Plating - Answers The addition of any feature or enhancement not considered in the original scope plan or product description at any point in a project. Milestone - Answers An event that represents significant, identifiable accomplishment toward the project's completion. Organization Breakdown Structure (OBS) - Answers A structure used to assign responsibility for work packages. Priority Matrix - Answers A matrix that is set up before the project begins, establishes which criterion among cost, time, and scope will be enhanced, constrained, or accepted. Process Breakdown Structure (PBS) - Answers A phase-oriented grouping of project activities that defines the total scope of the project. Each descending level represents an increasingly detailed description of project work. Product Scope Description - Answers A detailed description of the product, service, or outcome of the project. Project Charter - Answers A document that authorizes the project manager to initiate and lead a project. Responsibility Matrix - Answers A matrix whose intersection point shows the relationship between an activity (work package) and the person/group responsible for its completion. Scope Creep - Answers The tendency for the scope of a project to expand once it has started. Scope Statement - Answers A definition of the end result or mission of a project. Typically include project objectives, deliverables, milestones, specifications, and limits and exclusions. WBS Dictionary - Answers A dictionary that provides detailed information about each element in the WBS. The dictionary typically includes the work package level (code), name, and functional description.