Cornerstone Exam 1 Project Management
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Project - CORRECT ANSWER Set of interrelated activities, usually involving a group of
people working together toward a common goal.
Project Management - CORRECT ANSWER The planning, scheduling, and orchestrating of
project activities to achieve objectives within time, resource, and quality constraints.
Benefits of Project Management - CORRECT ANSWER -Getting work done well, on time and
within budget.
-Utilizing resources efficiently.
-Managing expectations.
-Avoiding conflicts.
-Adding value to your business.
Project Management Process - CORRECT ANSWER -Defining and organizing the project.
-Planning the project.
-Executing the project.
-Closing down the project.
SMART - CORRECT ANSWER -Specific.
-Measurable.
-Action-oriented.
-Realistic.
-Time-limited.
Identify Needs & Project Objectives - CORRECT ANSWER -Brainstorm alternatives.
-Set project objectives.
-Align objectives.
, Roles - CORRECT ANSWER -Project sponsor.
-Project manager.
-Project team leader.
-Project team members.
-Project stakeholders.
Sponsor - CORRECT ANSWER Authorizes the project. He/She should be a manager or
executive with a real stake in the outcome and accountability for the project's performance.
Project team leader - CORRECT ANSWER This individual reports directly to the project
manager and takes responsibility for one or more aspects of the work.
Project team members - CORRECT ANSWER Perform most of the work.
Elements of a Project Charter - CORRECT ANSWER -Mission Statement.
-Outline of roles and responsibilities.
-Project scope.
-Deliverables and objectives.
-Budget, allocations, and resources.
Work Breakdown Structure (WBS) - CORRECT ANSWER Helps develop estimates, assign
personnel, track progress, and show the scope of the project work.
GANTT Chart - CORRECT ANSWER Lists project tasks in the left-hand column and
indivates time blocks for each.
Usually associated with Project Management.
Estimating time required for each task: - CORRECT ANSWER -Use experience.
-Understand commitments are binding.
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Project - CORRECT ANSWER Set of interrelated activities, usually involving a group of
people working together toward a common goal.
Project Management - CORRECT ANSWER The planning, scheduling, and orchestrating of
project activities to achieve objectives within time, resource, and quality constraints.
Benefits of Project Management - CORRECT ANSWER -Getting work done well, on time and
within budget.
-Utilizing resources efficiently.
-Managing expectations.
-Avoiding conflicts.
-Adding value to your business.
Project Management Process - CORRECT ANSWER -Defining and organizing the project.
-Planning the project.
-Executing the project.
-Closing down the project.
SMART - CORRECT ANSWER -Specific.
-Measurable.
-Action-oriented.
-Realistic.
-Time-limited.
Identify Needs & Project Objectives - CORRECT ANSWER -Brainstorm alternatives.
-Set project objectives.
-Align objectives.
, Roles - CORRECT ANSWER -Project sponsor.
-Project manager.
-Project team leader.
-Project team members.
-Project stakeholders.
Sponsor - CORRECT ANSWER Authorizes the project. He/She should be a manager or
executive with a real stake in the outcome and accountability for the project's performance.
Project team leader - CORRECT ANSWER This individual reports directly to the project
manager and takes responsibility for one or more aspects of the work.
Project team members - CORRECT ANSWER Perform most of the work.
Elements of a Project Charter - CORRECT ANSWER -Mission Statement.
-Outline of roles and responsibilities.
-Project scope.
-Deliverables and objectives.
-Budget, allocations, and resources.
Work Breakdown Structure (WBS) - CORRECT ANSWER Helps develop estimates, assign
personnel, track progress, and show the scope of the project work.
GANTT Chart - CORRECT ANSWER Lists project tasks in the left-hand column and
indivates time blocks for each.
Usually associated with Project Management.
Estimating time required for each task: - CORRECT ANSWER -Use experience.
-Understand commitments are binding.
