Page 1 of 27
APM PFQ REVISION STUDY GUIDE QUESTIONS
WITH DETAILED VERIFIED ANSWERS
Terms in this set (112) Q & A
>> Project
- answer- transient endeavours that bring about change to business-as-usual
>> Project Management
- answer- Application of processes and methods throughout the project life cycle. The most
effective way to bring about change.
>> Identify the differences between a project and business as usual
- answer- Projects involve uncertainty, require a special team and operate in a dynamic
environment. They deliver change and have specific aims & objectives.
Business-As-Usual uses the deliverables produced to provide on-going services in a more
stable environment. The activities are repetitive in nature, with a constant team and defined
roles. Works within fixed time, cost and quality constraints.
>> State the key purpose of project management
- answer- Projects are transient endeavours that bring about change to business-as-usual.
Increases the chances of the project being delivered within the agreed time-cost-quality
constraints.
, Page 2 of 27
>> List the processes of project management
- answer- 1. Starting
2. Planning
3. Monitoring & Control
4. Feedback
5. Closing
>> List the benefits to an organisation of effective project management
- answer- 1. greater likelihood of achieving desired result
2. utilises resources
3. satisfy needs of stakeholders
>> List the core components of project management
- answer- 1. define project need
2. capture requirements
3. prepare business case
4. secure funding
5. develop management plan
6. lead team
7. manage risks
8. monitor progress
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9. manage budget
10. maintain communication
11. close the project
>> Programme
- answer- A unique, transient strategic endeavour undertaken to achieve beneficial change and
incorporating a group of related projects and business-as-usual (steady-state) activities.
>> Portfolio
- answer- A group of projects and programs carried out within an organisation
>> Portfolio Management
- answer- The selection, prioritisation and control of an organisation's projects and
programmes in line with its strategic objectives and capacity to deliver.
>> What is programme and portfolio management's relationship with project management
- answer- Must constantly review the balance of investment and benefit, creating and closing
projects and programmes as necessary
>> Define the components of the PESTLE acronym
- answer- Political, Economical, Social, Technological, Legal, Environmental
APM PFQ REVISION STUDY GUIDE QUESTIONS
WITH DETAILED VERIFIED ANSWERS
Terms in this set (112) Q & A
>> Project
- answer- transient endeavours that bring about change to business-as-usual
>> Project Management
- answer- Application of processes and methods throughout the project life cycle. The most
effective way to bring about change.
>> Identify the differences between a project and business as usual
- answer- Projects involve uncertainty, require a special team and operate in a dynamic
environment. They deliver change and have specific aims & objectives.
Business-As-Usual uses the deliverables produced to provide on-going services in a more
stable environment. The activities are repetitive in nature, with a constant team and defined
roles. Works within fixed time, cost and quality constraints.
>> State the key purpose of project management
- answer- Projects are transient endeavours that bring about change to business-as-usual.
Increases the chances of the project being delivered within the agreed time-cost-quality
constraints.
, Page 2 of 27
>> List the processes of project management
- answer- 1. Starting
2. Planning
3. Monitoring & Control
4. Feedback
5. Closing
>> List the benefits to an organisation of effective project management
- answer- 1. greater likelihood of achieving desired result
2. utilises resources
3. satisfy needs of stakeholders
>> List the core components of project management
- answer- 1. define project need
2. capture requirements
3. prepare business case
4. secure funding
5. develop management plan
6. lead team
7. manage risks
8. monitor progress
, Page 3 of 27
9. manage budget
10. maintain communication
11. close the project
>> Programme
- answer- A unique, transient strategic endeavour undertaken to achieve beneficial change and
incorporating a group of related projects and business-as-usual (steady-state) activities.
>> Portfolio
- answer- A group of projects and programs carried out within an organisation
>> Portfolio Management
- answer- The selection, prioritisation and control of an organisation's projects and
programmes in line with its strategic objectives and capacity to deliver.
>> What is programme and portfolio management's relationship with project management
- answer- Must constantly review the balance of investment and benefit, creating and closing
projects and programmes as necessary
>> Define the components of the PESTLE acronym
- answer- Political, Economical, Social, Technological, Legal, Environmental
