WGU C722 PROJECT MANAGEMENT EXTENSIVE COMPILATION OF THE LATEST
EXAM QUESTIONS AND THEIR CORRECT ANSWERS FOR STUDY PURPOSES
A portfolio is a collection of related initiatives that help achieve a long-term
corporate purpose or objective (Pg 13).
Pg 13: program-ANSWER, a collection of linked initiatives
Project: ANSWER a set of actions or a project itself that produces a new,
distinctive product, service, or outcomes to support that program (Pg 13).
A charter is a document that is approved by the sponsor and important
stakeholders, much like a contract. It outlines the project and gives permission
for its resources, roles, duties, authority, and scope (Pg 13).
SMART is for specified, measurable, achievable, relevant, and timely, and it
refers to the criteria of certain project-specific goals.
Triple constraint: ANSWER scope (deliverables), schedule (time), and cost
(budget) Pg 17.
Stakeholder analysis: ANSWER analysis to identify pertinent stakeholders,
their demands for communication, and their interests Pg 19
As a governance instrument, the Change Control Board (CCB) is a team of
individuals who monitor project modifications (ANSWER, p. 19).
One important tool for helping people understand their responsibilities and how
they will be held accountable is the Work Breakdown Structure (WBS)
ANSWER (page 21).
With its headquarters located in Newton, Pennsylvania, and member chapters
across all continents (except from Antarctica), the Project Management Institute
(PMI) was established in 1969. It is the biggest in the world and publishes
foundational and practice standards. Page 22
, The largest professional organization of its sort in Europe is the Association for
Project Management (APM), a charter organization with its headquarters in the
United Kingdom. It was founded in 1972 and mostly consists of people from the
United Kingdom. Page 22
Established in 1965, the International Project Management Association (IPMA)
is the first project management association in the world. Pg 22 The premier
resource for effective project, program, and portfolio management (PPPM)
ITIL (Information Technology Infrastructure Library), PRINCE2, and
Managing Successful Programs (MSP) are among the standards and related
certifications created by the Cabinet office that are managed and expanded by
AXELOS, Ltd.-ANSWER, a joint venture between the UK government and
Captia PLC. Page 22
Pros and cons of a functional (departmentalized) organization: ANSWER Pros:
Work is easily prioritized by designated departmental authority; lines of power
are obvious.
Cons: It can be challenging to use resources across functions, and the project is
not managed holistically.
Benefits and drawbacks of a projectized organization: ANSWER Pros: Clearly
defined lines of authority; comprehensive project management; access to
historical data from previous projects.
Cons: Due to staff duplication, the approach is costly; the SME appointed might
not possess the most relevant knowledge or experience for the project.
Pros and drawbacks of the matrix organization: ANSWER Pros: The project is
the main focus, and problems are addressed promptly.
Cons: Needs coordination and collaboration between project managers and
functional departments; resource allocation between projects may cause
conflict.
ANSWER: A procedure for assessing the degree of documentation and best
practices adhered to throughout project execution is the project management
office (PMO). Page 26
The thoroughness of documented procedures to complete tasks in each of the
process areas outlined by PMI determines the Project Management Maturity
Level—ANSWER. Page 26
EXAM QUESTIONS AND THEIR CORRECT ANSWERS FOR STUDY PURPOSES
A portfolio is a collection of related initiatives that help achieve a long-term
corporate purpose or objective (Pg 13).
Pg 13: program-ANSWER, a collection of linked initiatives
Project: ANSWER a set of actions or a project itself that produces a new,
distinctive product, service, or outcomes to support that program (Pg 13).
A charter is a document that is approved by the sponsor and important
stakeholders, much like a contract. It outlines the project and gives permission
for its resources, roles, duties, authority, and scope (Pg 13).
SMART is for specified, measurable, achievable, relevant, and timely, and it
refers to the criteria of certain project-specific goals.
Triple constraint: ANSWER scope (deliverables), schedule (time), and cost
(budget) Pg 17.
Stakeholder analysis: ANSWER analysis to identify pertinent stakeholders,
their demands for communication, and their interests Pg 19
As a governance instrument, the Change Control Board (CCB) is a team of
individuals who monitor project modifications (ANSWER, p. 19).
One important tool for helping people understand their responsibilities and how
they will be held accountable is the Work Breakdown Structure (WBS)
ANSWER (page 21).
With its headquarters located in Newton, Pennsylvania, and member chapters
across all continents (except from Antarctica), the Project Management Institute
(PMI) was established in 1969. It is the biggest in the world and publishes
foundational and practice standards. Page 22
, The largest professional organization of its sort in Europe is the Association for
Project Management (APM), a charter organization with its headquarters in the
United Kingdom. It was founded in 1972 and mostly consists of people from the
United Kingdom. Page 22
Established in 1965, the International Project Management Association (IPMA)
is the first project management association in the world. Pg 22 The premier
resource for effective project, program, and portfolio management (PPPM)
ITIL (Information Technology Infrastructure Library), PRINCE2, and
Managing Successful Programs (MSP) are among the standards and related
certifications created by the Cabinet office that are managed and expanded by
AXELOS, Ltd.-ANSWER, a joint venture between the UK government and
Captia PLC. Page 22
Pros and cons of a functional (departmentalized) organization: ANSWER Pros:
Work is easily prioritized by designated departmental authority; lines of power
are obvious.
Cons: It can be challenging to use resources across functions, and the project is
not managed holistically.
Benefits and drawbacks of a projectized organization: ANSWER Pros: Clearly
defined lines of authority; comprehensive project management; access to
historical data from previous projects.
Cons: Due to staff duplication, the approach is costly; the SME appointed might
not possess the most relevant knowledge or experience for the project.
Pros and drawbacks of the matrix organization: ANSWER Pros: The project is
the main focus, and problems are addressed promptly.
Cons: Needs coordination and collaboration between project managers and
functional departments; resource allocation between projects may cause
conflict.
ANSWER: A procedure for assessing the degree of documentation and best
practices adhered to throughout project execution is the project management
office (PMO). Page 26
The thoroughness of documented procedures to complete tasks in each of the
process areas outlined by PMI determines the Project Management Maturity
Level—ANSWER. Page 26
