IT Project Management Exam 1 Questions and Answers 100% Pass

IT Project Management Exam 1 Questions and Answers 100% Pass What is the name of PMI's organization maturity model for project management that helps to determine the level of ability of an organization to deliver the desired strategic outcomes in a reliable, controllable, and predictable manner? a. ISO 9000 b. OPM3 - Project Process Management 3 c. Project management maturity model d. Six Sigma - Correct Answer ️️ -b. OPM3 - Project Process Management 3 Success in portfolio management, which can be generally described as a group of projects or programs and other works to achieve a specific strategic business goal, is generally defined as: a. Aggregate performance of all components (projects, programs and other related work) b. Control of changes to specific products and services c. Compliance with schedule, budget and specification requirements d. Realization of the business benefits and financial objectives - Correct Answer ️️ -a. Aggregate performance of all components (projects, programs and other related work) Which one of the following is the logical breakdown of what needs to be done to produce the project objectives sometimes referred to as the performing organizations methodology for projects? a. Product life cycle b. Project life cycle c. Feedback loop d. Product development - Correct Answer ️️ -b. Project life cycle The application of knowledge, skills, tools, and techniques to satisfy the project needs by establishing project objectives, identifying project requirement, managing stakeholders and balancing project constraints (i.e. cost, time, quality, scope risk and others) is referred to as: a. Project management b. Project administration c. Project initiation d. Project coordination - Correct Answer ️️ -a. Project management All project phases conclude with a review of the deliverables and related work (phase exits or stage gates or kill points) for the purpose of: a. Determining if the project should continue and the next phase should be initiated b. Determining defections and correcting errors c. Assessing project risks d. Enforcing formal control procedure of the project - Correct Answer ️️ -a. Determining if the project should continue and the next phase should be initiated A project life cycle is a representation of the generally sequential and sometime overlapping project phases that a project typically goes through. All of the following statements about project life cycle are true EXCEPT: a. Cost and staffing start low, increase toward the end, and drop Rapidly near closing b. Project risk is highest at the beginning of the project and reduces as the project approaches its end c. Stakeholder influence is lowest at the start and increases as the project proceeds d. Cost or changes is low in the beginning but extremely high late in the project. - Correct Answer ️️ -c. Stakeholder influence is lowest at the start and increases as the project proceeds You are managing a group of related or unrelated projects or programs and other works to achieve specific strategic business objectives and goals. You are a: a. Program owner b. Project manager c. Program manager d. Portfolio manager - Correct Answer ️️ -d. Portfolio manager Which one of the following PMO structures mostly provide guidelines, policies and template and requires compliances and usually has a moderate level of control over project and programs? a. Supportive b. Controlling c. Directive d. Constructive - Correct Answer ️️ -b. Controlling The level of power and authority of a project manager may fluctuate due to various factors, Typically, how much power and authority a project manager will have depends on which of the following? a. The organizational structure b. The negotiation skills of the project manager c. Project management knowledge and technical competency of the project manager d. The relationship of the project manager with senior management especially with the sponsor - Correct Answer ️️ -a. The organizational structure You are the managing a group of related projects to accomplish a common objective. You are a: a. Program owner b. Project manager c. Program manager d. Portfolio manager - Correct Answer ️️ -b. Project manager Which of the following will only during the Planning Process Group? a) Identify stakeholders b) Develop schedule c) Acquire resources d) Validate scope - Correct Answer ️️ -b) Develop schedule A knowledge Area represents a complete set of activities, concepts, and terms that make up an area of specialization, project manage