PMP Exam Chapter 1 Questions and Answers|100% Verified

PMP Exam Chapter 1 Questions and Answers|100% Verified PMBOK Guide - CORRECT ANSWER Contains the globally recognized standard and guide for the project management profession. Standard - CORRECT ANSWER A formal document that describes established norms, methods, processes, and practices. They do not address all details of every topic. Annex A1 - CORRECT ANSWER The standard for project management and presents the processes, inputs, and outputs that are considered to be good practice on most projects most of the time. It is a guide rather than a specific methodology. Generally Recognized - CORRECT ANSWER The knowledge and practices described are applicable to most projects most of the time, and there is a consensus about their value and usefulness. Good Practice - CORRECT ANSWER Means there is a general agreement that the application of the knowledge, skills, tools, and techniques can enhance the changes of success over many projects. It does not mean that the knowledge described should always be applied uniformly to all projects; the organization and/or PM team is responsible for determining what is appropriate for any given project. PMI Lexicon of Project Management Terms - CORRECT ANSWER Provides the foundational professional vocabulary that can be consistently used by project, program, and portfolio managers and other stakeholders. Project Management Institute Code of Ethics and Professional Conduct - CORRECT ANSWER Guides practitioners of the profession and describes the expectations that practitioners should hold for themselves and others. It is specific about the basic obligation of responsibility, respect, fairness, and honesty. It requires that practitioners demonstrate a commitment to ethical and professional conduct. It carries the obligation to comply with laws, regulations, and organizational and professional policies. When interacting with any stakeholder, practitioners should be committed to honest, responsible, and fair practices and respectful dealings. Project - CORRECT ANSWER A temporary endeavor undertaken to create a unique product, service, or result. It has a definite beginning and end. What does every project create? - CORRECT ANSWER Product- A component of another item, an enhancement of an item, or an end item in itself Service- A capability to perform a service Result- An outcome or document Improvement- Improvement in the existing product or service lines