WGU C722 Project Management EXAM WITH CORRECT ANSWERS

WGU C722 Project Management EXAM
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WITH CORRECT ANSWERS |\ |\




Projects - CORRECT ANSWERS ✔✔A temporary activity that
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creates a unique result. |\ |\ |\




Initiatives with specific goals and start and end dates.
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Develop a new product or service reduces cost add technology.
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Example of Projects - CORRECT ANSWERS ✔✔* A car company
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developing a new passenger car. |\ |\ |\ |\


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* A freight company adding a computer program to optimize
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cargo carrying capacity.
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* A construction company building a new facility for a customer.
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Operations - CORRECT ANSWERS ✔✔Day-to-day activities in an
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organization. Continuous/ongoing. |\




Examples of Operations - CORRECT ANSWERS ✔✔* A car
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company making cars. |\ |\ |\




* An airline flying passsengers.
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,* A CPA firm completing taxes for clients.
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Product - CORRECT ANSWERS ✔✔Something created by a project.
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Example of Product - CORRECT ANSWERS ✔✔* A flu vaccine.
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* An office building.
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* The movie you just watched.
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* The design of the vehicle you drive.
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Business Scenario - CORRECT ANSWERS ✔✔An imagined or
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projected sequence of events that is representative of a
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significant business need or problem, enables vendors to
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understand the value to the customer organization of a
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developed solution. |\ |\




Business Scenarios have this information: - Past events that are
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relevant- Current key information- Expected or desired outcomes
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Business Strategy - CORRECT ANSWERS ✔✔The activities,
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methods, tactics, etc. that will be employed to meet the
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business's goals. Determined by senior management in the
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organization to improve the value of the company to its
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stakeholders.

,Subject Matter Expert (SME) - CORRECT ANSWERS ✔✔A person
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who is an authority in a particular area or project.
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Program - CORRECT ANSWERS ✔✔A group of related projects.
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Portfolio - CORRECT ANSWERS ✔✔A group of initiatives (projects
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and programs) that a company engages in to improve its
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operations.


Charter - CORRECT ANSWERS ✔✔The definition of a project
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according to stakeholders. Defines how customer will determine
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if project met expectations. Includes a beginning, work steps, and
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clear and defined end.
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Business Case - CORRECT ANSWERS ✔✔The justification for a
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project - Explains the business need.
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Project Life Cycle Phases - CORRECT ANSWERS ✔✔Defining,
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Planning Executing, Closing |\ |\




Defining - CORRECT ANSWERS ✔✔Idea for project is generated
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and formalized. Decision on whether to implement is made. Ends
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when project charter is approved.
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Planning - CORRECT ANSWERS ✔✔Where detailed planning
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occurs. Level of detail aligns with the complexity of the project.
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Use Work Breakdown Structure to identify outcomes needed.
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, Can require significant time for large projects.
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Typically ends when baselines for scope, budget, and schedule
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are approved by the customer and/or sponsor and project team.
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Executing - CORRECT ANSWERS ✔✔Where most of the work is
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done. |\




Deliverables are completed. Progress is monitored and actions |\ |\ |\ |\ |\ |\ |\ |\


taken as needed to stay on track.
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May return to planning phase as needed if objectives can't be
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met, to modify budget, schedule, or scope.
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Critical to be careful of scope creep - don't add functionality
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without considering impact. |\ |\




This phase is complete when all work activities and deliverables
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are ready to be delivered to customer/sponsor.
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Closing - CORRECT ANSWERS ✔✔When project outcomes are
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delivered to the customer and/or sponsor. |\ |\ |\ |\ |\




|\ Project Manager ties up loose ends
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* Reassign project resources back to company
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