Wgu C722 Project Management Updated Questions And Correct Answers

WGU C722 PROJECT MANAGEMENT UPDATED
QUESTIONS AND CORRECT ANSWERS
Question:
1. portfolio
Answer:
a group of related programs that support a long-term com-pany goal or objective Pg 13

Question:
2. program
Answer:
a group of related projects Pg 13

Question:
3. project
Answer:
an activity or group of activities to generate a new, unique product, service, or results to support that
program Pg 13

Question:
4. charter
Answer:
a document that, like a contract, is agreed upon by the sponsor and key stakeholders. It defines the
project and authorizes the resources, roles, responsibilities, authorities, and scope for the project Pg
13

Question:
5. Specific, measurable, attain-able, relevant, timely
Answer:
Criteria of specific objectives that are unique to a project are referred to as SMART which stands for
what Pg 15

Question:
6. triple constraint
Answer:
cost (budget), schedule (time), and scope (deliverables) Pg 17

Question:
7. stakeholder analysis
Answer:
analysis to define the relevant stakeholders, their interests, and their communication needs Pg 19

Question:
8. Change Control Board (CCB)
Answer:
a group of people who track changes in a project and can be used as a governance tool Pg 19

,Question:
9. Work Breakdown Structures (WBS)
Answer:
a key tool so that people understand what is expected of them and how they will be held accountable
Pg 21

Question:
10. Project Management Institute (PMI)
Answer:
Founded in 1969, it's headquartered in Newton, PA, and has member chapters on every continent
(except Antarctica). Publishes foundational and practice standards and is the largest in the world. Pg
22

Question:
11. Association for Project Man-agement (APM)
Answer:
A UK-based charter organization that is the largest profes-sional body of its kind in Europe. Formed
in 1972, it's mem-bership is primarily limited to the United Kingdom. Pg 22

Question:
12. International Project Manage-ment Association (IPMA)
Answer:
the world's first project management association, founded in 1965. The leading authority on
competent project, pro-gramme, and portfolio management (PPPM) Pg 22

Question:
13. AXELOS, Ltd
Answer:
a joint venture between the government of the United King-dom and Captia PLC. It was formed to
manage and grow a number of standards and associated certifications de-veloped by the Cabinet
office, including ITIL (Information Technology Infrastructure Library), PRINCE2, and Managing
Successful Programs (MSP). Pg 22

Question:
14. Functional (Departmentalized) Organization pros/cons
Answer:
Pros: Lines of authority are clear; work is easily prioritized by identified departmental authority
Cons: Utilizing resources across functions can be difficult; project is not managed holistically

Question:
15. Projectized Organization pros and cons
Answer:
Pros: Clear lines of authority; project is managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME assigned may not have
the most appropriate knowledge or expertise for the project

Question:
16. Matrix Organization pros and cons

, Answer:
Pros: Central focus is the project; issues are responded to quickly. Cons: Requires cooperation and
coordination between and among functional departments and project managers; re-source balancing
between projects can lead to friction.

Question:
17. project management office (PMO)
Answer:
A process for determining if the level of documentation and best practices followed in project
execution. Pg 26

Question:
18. Project Management Maturity Level
Answer:
Determined by the comprehensiveness of written proce-dures to accomplish tasks in each of the
process areas iden-tified by PMI. Pg 26

Question:
19. alignment
Answer:
Term used to describe connecting project outcomes to com-pany goals. Pg 30

Question:
20. Realistic
Answer:
Model is appropriate to the level of resources available, the operating environment, and capabilities
of the company. Pg 31

Question:
21. Capable
Answer:
The model is able to apply the pertinent factors of the eval-uation, including time, risk, cost, and
internal and external environment. Pg 31

Question:
22. Flexible
Answer:
Model should provide accurate measures across a reason-able range of changing conditions. Pg 31

Question:
23. Easy to use
Answer:
The model is not difficult to learn and understand in a rela-tively short time; provides results readily
understandable to the user.. Pg 31

Question:
24. Low Cost