OPRE 6362 - EXAM 1 QUESTIONS AND
ANSWERS 2026 VERIFIED.
Project - ANS a temporary endeavor undertaken to create a unique product, service, or result
-definite beginning and end
-Take place outside the normal, process-oriented world
Operations - ANS any continuing endeavor that produces many identical or nearly identical
products or provides repetitive services (e.g., frying burgers, manufacturing cars, teaching
algebra)
Ongoing, day-to-day activities to produce goods and services
Project Management - ANS The application of knowledge, skills, tools, and techniques to
project activities to meet project requirements
Operations Management - ANS deals with the design and management of ongoing products,
services and supply chains.
Project Management Office (PMO) - ANS centralized organizational unit that oversees and
coordinates the management of projects and programs
@2026/2027 ALLRIGHTS RESERVED.
, Five Process Groups - ANS "Initiating, Planning, Executing, Monitoring and Controlling, and
Closing"
Business Value - ANS highly subjective measure because it involves estimating the value of
intangible assets like trade secrets, trademarks, public benefit, and recognition
Triple Constraint - ANS time, cost, scope
Project Managment Plan - ANS an approved document that defines how the project is
executed, delivered, and closed.
Stakeholders - ANS is an individual, or organization who may affect, be affected by, or
perceive itself to be affected by a decision, activity, or outcome of a project
-identify SH as early as possible
-determine expectations
-communicate to keep informed
Project Lifecycle - ANS the series of phases that a project goes through from its initiation to
its closure
representation of the generally sequential and sometimes overlapping project phases that a
project typically goes through.
Initiating Process Group - ANS Approves the project charter (with measurable objectives, a
milestone schedule, an initial budget, etc.), authorizes a project manager and assigns a project
manager to the project.
@2026/2027 ALLRIGHTS RESERVED.
ANSWERS 2026 VERIFIED.
Project - ANS a temporary endeavor undertaken to create a unique product, service, or result
-definite beginning and end
-Take place outside the normal, process-oriented world
Operations - ANS any continuing endeavor that produces many identical or nearly identical
products or provides repetitive services (e.g., frying burgers, manufacturing cars, teaching
algebra)
Ongoing, day-to-day activities to produce goods and services
Project Management - ANS The application of knowledge, skills, tools, and techniques to
project activities to meet project requirements
Operations Management - ANS deals with the design and management of ongoing products,
services and supply chains.
Project Management Office (PMO) - ANS centralized organizational unit that oversees and
coordinates the management of projects and programs
@2026/2027 ALLRIGHTS RESERVED.
, Five Process Groups - ANS "Initiating, Planning, Executing, Monitoring and Controlling, and
Closing"
Business Value - ANS highly subjective measure because it involves estimating the value of
intangible assets like trade secrets, trademarks, public benefit, and recognition
Triple Constraint - ANS time, cost, scope
Project Managment Plan - ANS an approved document that defines how the project is
executed, delivered, and closed.
Stakeholders - ANS is an individual, or organization who may affect, be affected by, or
perceive itself to be affected by a decision, activity, or outcome of a project
-identify SH as early as possible
-determine expectations
-communicate to keep informed
Project Lifecycle - ANS the series of phases that a project goes through from its initiation to
its closure
representation of the generally sequential and sometimes overlapping project phases that a
project typically goes through.
Initiating Process Group - ANS Approves the project charter (with measurable objectives, a
milestone schedule, an initial budget, etc.), authorizes a project manager and assigns a project
manager to the project.
@2026/2027 ALLRIGHTS RESERVED.
