C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations

C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations A firm begins its strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. To accomplish this, the firm initiates a business management project. Which aspect of project management applies to this firm's project? Interdependent Tasks A firm begins its strategic business initiative of developing a new business model to enhance its competitiveness. What can be identified as a strategic business initiative for this firm? Improvement in product design A firm begins a strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. Project sponsor Which group is included in the five process groups? Closing process group What does PRINCE2 stand for? PRojects IN a Controlled Environment Which PMBOK process group is described as the delivery part of project management where the main activity happens? Executing Which advantage does the functional (departmentalized) organizational structure provide for a firm with multiple projects? Lines of authority are clear. Which two organizations are examples of organizations with the functional organizational structure? (1) The U.S. Department of State and (2) The U.S Department of Energy An organization expects to use a project management office (PMO) to support multiple projects that will be implemented within a projectized organizational structure. Which implied effect is a benefit to this organization? Project team members gain access to historical data from other projects. Regardless of the organizational structure used to manage a project, an organization elects to use a project management office (PMO). Which benefit will this organization gain? Projects will coordinate resource usage by monitoring the status of shared resources. During a certain project phase, specific blueprints are drawn and approved, materials and labor costs are estimated, prototypes are created, and work activities and tasks are identified. Also, quality expectations, measurements, and costs are defined. During which project phase do these activities occur? Planning Place the project activities in order of occurrence from first (1) to last (5).