MBA 742 Module 1 Final Exam and All
Correct Answers 2025-2026 Updated.
project management institute - Answer PMI *not for profit*
project management body of knowledge - Answer pmbok
project, product, service, result - Answer ____ is a temporary endeavor undertaken to create
a unique product, service, or result
Must have a beginning and end; weeks to years
Typically yield:
1. _____
2. Capability to perform a ___
3. ____
project management - Answer ____ the application of knowledge, skills, tools, and
techniques to project activities to meet the project requirements
program - Answer ____ a *group of related projects* managed in a coordinated way to
obtain benefits (and control) not available managing them *individually*
requirements, communication, stakeholders, constraints - Answer PM includes but not
limited to
1. Identifying ___
2. ___
3. Managing ___
4. Balancing project ____
49, 5, initiation, planning, execution, monitoring/controlling, closing - Answer PM is
accomplished through applying and integrating the ___ individual PM processes, which are
categorized into ___ PM process groups which are
1
2
,3
4
5
projects - Answer ____ drive change in organizations: from a business perspective, a project
is aimed at moving an organization from one state (current) to another state (future/desired) in
order to achieve a specific objective or set of objectives
portfolio - Answer Program and PM focus on doing programs and projects the RIGHT way
____ management focuses on doing the RIGHT projects and programs
language, processes, methodology, training, benchmarking, improvement - Answer Benefits
of standardizing PM within an organization
1. common ___
2. common ____
3. single ___ and ___
4. ___
5. continuous improvement
projects - Answer ____ are often utilized as a means of achieving an organization's strategic
plan. A way to organize activities that cannot be addressed within an organization's normal
operational structures.
project, program, excellence - Answer Some organization's structure projects around
___ management office
___ management office
centers of ____
portfolio, mature - Answer The relationship between the business objectives and the project
___ is typically more apparent the more ___ an organization is.
More highly mature organizations tend to have more infrastructure support for the project team
and tend to better facilitate communications about project priorities and resource needs.
integrated, estimating, budgeting, analyzing, resource - Answer An ___ PM methodology
provides benefits to an organization, providing consistency across projects for things:
, 1
2
3
4 ___ success or failure
5 ___ (employee) utilization and needs
portfolio, resource - Answer ___ management governance provides or facilitates the
following in an organization:
1. selection and prioritization guidelines or criteria of projects or programs
2. ___ management
3. process, productivity, and quality improvements, through consistent capturing and review of
lessons learned and trend analysis
governance, financial, market, competition, future, operations, maintenance, regulation -
Answer PMI states that all potential project selection should go through ____ criteria
1. What is the __ benefit of the project? ROI
2. __ need
3. Market ____
4. Market ___ positioning
5. ___ and ___ cost
6. ___
selection - Answer One of the primary components of PM is project ____. The goal is to have
a structured approach to analyzing and choosing which project to work on. Too many projects
cannot be resourced appropriately. Too few projects are missed opportunities. Also,
organizations don't want to take on unimportant projects instead of more important ones. The
evaluation of these considerations is conducted through Portfolio Management and Governance
Criteria
generic - Answer ___ project life cycle:
Regardless of project size, complexity or management methodology used (waterfall, spiral,
agile, etc)
beginning - Answer •Project costs tend to increase at the beginning of a project as staff is
brought on, tend to reach their peak in the middle of the project's life cycle, and draws down as
the project nears completion.
Correct Answers 2025-2026 Updated.
project management institute - Answer PMI *not for profit*
project management body of knowledge - Answer pmbok
project, product, service, result - Answer ____ is a temporary endeavor undertaken to create
a unique product, service, or result
Must have a beginning and end; weeks to years
Typically yield:
1. _____
2. Capability to perform a ___
3. ____
project management - Answer ____ the application of knowledge, skills, tools, and
techniques to project activities to meet the project requirements
program - Answer ____ a *group of related projects* managed in a coordinated way to
obtain benefits (and control) not available managing them *individually*
requirements, communication, stakeholders, constraints - Answer PM includes but not
limited to
1. Identifying ___
2. ___
3. Managing ___
4. Balancing project ____
49, 5, initiation, planning, execution, monitoring/controlling, closing - Answer PM is
accomplished through applying and integrating the ___ individual PM processes, which are
categorized into ___ PM process groups which are
1
2
,3
4
5
projects - Answer ____ drive change in organizations: from a business perspective, a project
is aimed at moving an organization from one state (current) to another state (future/desired) in
order to achieve a specific objective or set of objectives
portfolio - Answer Program and PM focus on doing programs and projects the RIGHT way
____ management focuses on doing the RIGHT projects and programs
language, processes, methodology, training, benchmarking, improvement - Answer Benefits
of standardizing PM within an organization
1. common ___
2. common ____
3. single ___ and ___
4. ___
5. continuous improvement
projects - Answer ____ are often utilized as a means of achieving an organization's strategic
plan. A way to organize activities that cannot be addressed within an organization's normal
operational structures.
project, program, excellence - Answer Some organization's structure projects around
___ management office
___ management office
centers of ____
portfolio, mature - Answer The relationship between the business objectives and the project
___ is typically more apparent the more ___ an organization is.
More highly mature organizations tend to have more infrastructure support for the project team
and tend to better facilitate communications about project priorities and resource needs.
integrated, estimating, budgeting, analyzing, resource - Answer An ___ PM methodology
provides benefits to an organization, providing consistency across projects for things:
, 1
2
3
4 ___ success or failure
5 ___ (employee) utilization and needs
portfolio, resource - Answer ___ management governance provides or facilitates the
following in an organization:
1. selection and prioritization guidelines or criteria of projects or programs
2. ___ management
3. process, productivity, and quality improvements, through consistent capturing and review of
lessons learned and trend analysis
governance, financial, market, competition, future, operations, maintenance, regulation -
Answer PMI states that all potential project selection should go through ____ criteria
1. What is the __ benefit of the project? ROI
2. __ need
3. Market ____
4. Market ___ positioning
5. ___ and ___ cost
6. ___
selection - Answer One of the primary components of PM is project ____. The goal is to have
a structured approach to analyzing and choosing which project to work on. Too many projects
cannot be resourced appropriately. Too few projects are missed opportunities. Also,
organizations don't want to take on unimportant projects instead of more important ones. The
evaluation of these considerations is conducted through Portfolio Management and Governance
Criteria
generic - Answer ___ project life cycle:
Regardless of project size, complexity or management methodology used (waterfall, spiral,
agile, etc)
beginning - Answer •Project costs tend to increase at the beginning of a project as staff is
brought on, tend to reach their peak in the middle of the project's life cycle, and draws down as
the project nears completion.
