ITPM EXAM QUESTIONS & ANSWERS, 2024

ITPM EXAM QUESTIONS & ANSWERS, 2024 Definition of Project (1) - answer- Temporary endeavor - unique product, service or result. - A complex, non-routine, one-time effort. - It has a start and an end, scope, and boundaries are distinct from business as usual. Definition of Project Manager - answerThe person assigned by the performing organization to achieve the project objectives. Characteristics of a project - answer- Established Objectives - Defined Scope - Defined Life Span - Requires cross-organizational effort - Involves doing something never done before - has specific time, cost and performance requirements Definition of Programs - answerA collection of projects within a project portfolio whose activities are cooridnated so that the benefits of the programme are greater than the sum of benefits of individual projects. Definition of Project Portfolio - answerA collection of diverse projects managed collectively to align with the organizational strategy and overall plan to achieve competitive advantage. Definition of Project Management - answerApplication of knowledge, skills, tools and techniques to project actitivities to meet specific objectives within a given time frame and given resources. A successful project is defined as: - answerone that is completed on time, within budget and includes all the features and requirements envisioned. Why Projects Fail? - answerPeople Processes Technology Organization Improving the Likelihood of Success - answerA value driven approach Socio-technical approach PM approach Knowledge management approach PM Professional Bodies - answerAPM: Association for PM BSi: British Standard Institute ISO: International Standards Organization PRINCE2 10 PM Knowledge Areas - answer1. Integration 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Communication 8. Risk 9. Procurement 10. Stakeholder integration - Scope - Time - Cost - Quality - HR - Communiaction - Risk - Procurement - Stakeholder What is a methodology? - answerA set or system of method, principles, and rules for regulating a given discipline. What is a Phase? - answerA stage in the process of change or development: each stage of life brings its own joys. What is a Process? - answerA systematic series of actions directed to some end. PLC - answerDefines the inter-related phases of a project, programme or portfolio and provides a structure for governing the progression of the work Simple Project Life Cycle - answer1. Define: project goals/objectives should be focused on providing business value, clear focus and drives the entire project and define completion criteria. 2. Plan: Project deliverables, time, resources, control 3. Execute: Build the Deliverables 4. Close and Evaluation: ensure work is completed and finalise documentation Extended Project Life Cycle - answer1. Define 2. Plan 3. Execute 4. Close and Evaluate 5. Operation 6. Termination System Development Life Cycle (SDLC) - answer1. Initiation 2. System Concept Development 3. Planning 4. Requirement Analysis 5. Design 6. Development 7. Integration and Test 8. Implementation 9. Operations and Maintainence 10. Disposition Agile Themes - answerCustomer, Product, Project Team and Performance Why is a business strategy important? (3) - answerA business strategy is a documented plan on how an organisation is setting out to achieve their goals. Benefits of a business strategy - answer- Common Vision - Focus on Market Trends - Competitive Advantage - Planning and Positioning - Shareholder Value - Resourcing (Potential people, skills, and training required) Def of Strategic Objectives - answerLong term organisational goals that help to convert a mission statements from a broad vision into more specific plans and projects