C722 Project Management Exam Prep 2024/2025 With 100% Correct
Answers
Direct Overhead Costs - ✔✔Costs from the project that are shared across the work activities. If
workspace, supervision, project administration, equipment, or other resources are not related to a
specific work activity, they are included as overhead and will be allocated to all work activities.
Integration Management - ✔✔Includes processes/activities needed to identify, define, and
coordinate various processes and project management activities.
Scope Management - ✔✔Includes the processes that ensure that all the work required is identified
to complete the project successfully.
Time Management - ✔✔The processes required to manage the timely completion of the project.
Cost Management - ✔✔The processes involved in planning, estimating, budgeting, managing, and
controlling costs so that the project can be completed within the approved budget.
Quality Management - ✔✔Processes/activities that determine quality policies, objectives, and
responsibilities.
Human Resource Management - ✔✔The processes that organize, manage, and lead the project
team.
Communication Management - ✔✔Processes to ensure timely and appropriate planning, creation,
distribution, management, control, and monitoring of project information.
Risk Management - ✔✔The processes of conducting risk management planning, identification,
analysis, response planning, and controlling risk on a project.
Procurement Management - ✔✔The processes necessary to acquire products, services, or results
needed from outside the project team.
, Stakeholder Management - ✔✔The processes required to identify all people or organizations
impacted by the project, analyzing stakeholder expectations, and developing appropriate strategies
for effectively engaging stakeholders in project decisions and execution.
What happens in the defining stage of the project life cycle? - ✔✔Determining the project's
sponsor and the project's manager.
Creating a project charter which is a contract agreed upon by the sponsor and key stakeholders
defining the project and authorizes the resources, roles, responsibilities, authorities, and scope for
the project.
What happens in the planning stage of the project life cycle? - ✔✔The project manager considers
and plans the following: technology, business process, staffing, training, testing, communications,
budget constraints, integration of the project with operations and other projects.
What happens in the executing stage of the project life cycle? - ✔✔Involves overseeing and
managing all necessary work and assignments by members of the project team that are required
over the life of the project to successfully complete the project deliverables in accordance with
approved implementation schedule.
What happens in the closing stage of the project life cycle? - ✔✔Occurs when the project is
completed to the customer's satisfaction. This signifies that the project deliverables have been
successfully launched and the resulting project efforts are complete. Includes not only the launch,
but a review and transfer of lessons learned.
Three types of organizational structures - ✔✔Functional (Departmentalized), Projectized and
Matrix
Functional (Departmentalized) Structure - ✔✔The oldest and most basic form of organization.
Lines of authority are clear cut and well defined. There is a defined supervisor-subordinate
relationship for each department and sub-department. There is no question of who reports to
whom. This is the prototypical hierarchical structure that we most often see in organization charts.
Nearly every corporate annual report with an organization chart will use a hierarchical structure to
illustrate lines of reporting and authority.
Answers
Direct Overhead Costs - ✔✔Costs from the project that are shared across the work activities. If
workspace, supervision, project administration, equipment, or other resources are not related to a
specific work activity, they are included as overhead and will be allocated to all work activities.
Integration Management - ✔✔Includes processes/activities needed to identify, define, and
coordinate various processes and project management activities.
Scope Management - ✔✔Includes the processes that ensure that all the work required is identified
to complete the project successfully.
Time Management - ✔✔The processes required to manage the timely completion of the project.
Cost Management - ✔✔The processes involved in planning, estimating, budgeting, managing, and
controlling costs so that the project can be completed within the approved budget.
Quality Management - ✔✔Processes/activities that determine quality policies, objectives, and
responsibilities.
Human Resource Management - ✔✔The processes that organize, manage, and lead the project
team.
Communication Management - ✔✔Processes to ensure timely and appropriate planning, creation,
distribution, management, control, and monitoring of project information.
Risk Management - ✔✔The processes of conducting risk management planning, identification,
analysis, response planning, and controlling risk on a project.
Procurement Management - ✔✔The processes necessary to acquire products, services, or results
needed from outside the project team.
, Stakeholder Management - ✔✔The processes required to identify all people or organizations
impacted by the project, analyzing stakeholder expectations, and developing appropriate strategies
for effectively engaging stakeholders in project decisions and execution.
What happens in the defining stage of the project life cycle? - ✔✔Determining the project's
sponsor and the project's manager.
Creating a project charter which is a contract agreed upon by the sponsor and key stakeholders
defining the project and authorizes the resources, roles, responsibilities, authorities, and scope for
the project.
What happens in the planning stage of the project life cycle? - ✔✔The project manager considers
and plans the following: technology, business process, staffing, training, testing, communications,
budget constraints, integration of the project with operations and other projects.
What happens in the executing stage of the project life cycle? - ✔✔Involves overseeing and
managing all necessary work and assignments by members of the project team that are required
over the life of the project to successfully complete the project deliverables in accordance with
approved implementation schedule.
What happens in the closing stage of the project life cycle? - ✔✔Occurs when the project is
completed to the customer's satisfaction. This signifies that the project deliverables have been
successfully launched and the resulting project efforts are complete. Includes not only the launch,
but a review and transfer of lessons learned.
Three types of organizational structures - ✔✔Functional (Departmentalized), Projectized and
Matrix
Functional (Departmentalized) Structure - ✔✔The oldest and most basic form of organization.
Lines of authority are clear cut and well defined. There is a defined supervisor-subordinate
relationship for each department and sub-department. There is no question of who reports to
whom. This is the prototypical hierarchical structure that we most often see in organization charts.
Nearly every corporate annual report with an organization chart will use a hierarchical structure to
illustrate lines of reporting and authority.
