WGU C722 Project Management Exam
UPDATED QUESTIONS AND CORRECT
ANSWERS
Portfolio - CORRECT ANSWER a group of related programs that support a long-term
company goal or objective Pg 13
Program - CORRECT ANSWER a group of related projects Pg 13
Project - CORRECT ANSWER an activity or group of activities to generate a new, unique
product, service, or results to support that program Pg 13
Charter - CORRECT ANSWER a document that, like a contract, is agreed upon by the sponsor
and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities,
authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely - CORRECT ANSWER Criteria of specific
objectives that are unique to a project are referred to as SMART which stands for what Pg 15
Triple constraint - CORRECT ANSWER cost (budget), schedule (time), and scope
(deliverables) Pg 17
Stakeholder analysis - CORRECT ANSWER analysis to define the relevant stakeholders, their
interests, and their communication needs Pg 19
Change Control Board (CCB) - CORRECT ANSWER a group of people who track changes in
a project and can be used as a governance tool Pg 19
Work Breakdown Structures (WBS) - CORRECT ANSWER a key tool so that people
understand what is expected of them and how they will be held accountable Pg 21
,Project Management Institute (PMI) - CORRECT ANSWER Founded in 1969, it's
headquartered in Newton, PA, and has member chapters on every continent (except Antarctica).
Publishes foundational and practice standards and is the largest in the world. Pg 22
Association for Project Management (APM) - CORRECT ANSWER A UK-based charter
organization that is the largest professional body of its kind in Europe. Formed in 1972, it's
membership is primarily limited to the United Kingdom. Pg 22
International Project Management Association (IPMA) - CORRECT ANSWER the world's
first project management association, founded in 1965. The leading authority on competent project,
programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd - CORRECT ANSWER a joint venture between the government of the United
Kingdom and Captia PLC. It was formed to manage and grow a number of standards and associated
certifications developed by the Cabinet office, including ITIL (Information Technology Infrastructure
Library), PRINCE2, and Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons - CORRECT ANSWER Pros: Lines of
authority are clear; work is easily prioritized by identified departmental authority
Cons: Utilizing resources across functions can be difficult; project is not managed holistically
Projectized Organization pros and cons - CORRECT ANSWER Pros: Clear lines of authority;
project is managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME assigned may not have the
most appropriate knowledge or expertise for the project
Matrix Organization pros and cons - CORRECT ANSWER Pros: Central focus is the project;
issues are responded to quickly.
Cons: Requires cooperation and coordination between and among functional departments and project
managers; resource balancing between projects can lead to friction.
, Project management office (PMO) - CORRECT ANSWER A process for determining if the
level of documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level - CORRECT ANSWER Determined by the
comprehensiveness of written procedures to accomplish tasks in each of the process areas identified
by PMI. Pg 26
Alignment - CORRECT ANSWER Term used to describe connecting project outcomes to
company goals. Pg 30
Realistic - CORRECT ANSWER Model is appropriate to the level of resources available, the
operating environment, and capabilities of the company. Pg 31
Capable - CORRECT ANSWER The model is able to apply the pertinent factors of the
evaluation, including time, risk, cost, and internal and external environment. Pg 31
Flexible - CORRECT ANSWER Model should provide accurate measures across a reasonable
range of changing conditions. Pg 31
Easy to use - CORRECT ANSWER The model is not difficult to learn and understand in a
relatively short time; provides results readily understandable to the user.. Pg 31
Low Cost - CORRECT ANSWER Cost to run the model is economical relative to scale
(budget) of project Pg 31
Comparable - CORRECT ANSWER The model should be usable across a multitude of
projects, and not be project specific. Pg 31
Non-numeric project selection models - CORRECT ANSWER A process of selecting projects;
not limited to traditional numeric performance measures; includes Competitive Necessity, Operating
Necessity, Sacred Cow, and Checklist.
Return on Investment (ROI) - CORRECT ANSWER (NET PROFIT / COST OF
INVESTMENT) * 100 Pg 32
UPDATED QUESTIONS AND CORRECT
ANSWERS
Portfolio - CORRECT ANSWER a group of related programs that support a long-term
company goal or objective Pg 13
Program - CORRECT ANSWER a group of related projects Pg 13
Project - CORRECT ANSWER an activity or group of activities to generate a new, unique
product, service, or results to support that program Pg 13
Charter - CORRECT ANSWER a document that, like a contract, is agreed upon by the sponsor
and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities,
authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely - CORRECT ANSWER Criteria of specific
objectives that are unique to a project are referred to as SMART which stands for what Pg 15
Triple constraint - CORRECT ANSWER cost (budget), schedule (time), and scope
(deliverables) Pg 17
Stakeholder analysis - CORRECT ANSWER analysis to define the relevant stakeholders, their
interests, and their communication needs Pg 19
Change Control Board (CCB) - CORRECT ANSWER a group of people who track changes in
a project and can be used as a governance tool Pg 19
Work Breakdown Structures (WBS) - CORRECT ANSWER a key tool so that people
understand what is expected of them and how they will be held accountable Pg 21
,Project Management Institute (PMI) - CORRECT ANSWER Founded in 1969, it's
headquartered in Newton, PA, and has member chapters on every continent (except Antarctica).
Publishes foundational and practice standards and is the largest in the world. Pg 22
Association for Project Management (APM) - CORRECT ANSWER A UK-based charter
organization that is the largest professional body of its kind in Europe. Formed in 1972, it's
membership is primarily limited to the United Kingdom. Pg 22
International Project Management Association (IPMA) - CORRECT ANSWER the world's
first project management association, founded in 1965. The leading authority on competent project,
programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd - CORRECT ANSWER a joint venture between the government of the United
Kingdom and Captia PLC. It was formed to manage and grow a number of standards and associated
certifications developed by the Cabinet office, including ITIL (Information Technology Infrastructure
Library), PRINCE2, and Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons - CORRECT ANSWER Pros: Lines of
authority are clear; work is easily prioritized by identified departmental authority
Cons: Utilizing resources across functions can be difficult; project is not managed holistically
Projectized Organization pros and cons - CORRECT ANSWER Pros: Clear lines of authority;
project is managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME assigned may not have the
most appropriate knowledge or expertise for the project
Matrix Organization pros and cons - CORRECT ANSWER Pros: Central focus is the project;
issues are responded to quickly.
Cons: Requires cooperation and coordination between and among functional departments and project
managers; resource balancing between projects can lead to friction.
, Project management office (PMO) - CORRECT ANSWER A process for determining if the
level of documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level - CORRECT ANSWER Determined by the
comprehensiveness of written procedures to accomplish tasks in each of the process areas identified
by PMI. Pg 26
Alignment - CORRECT ANSWER Term used to describe connecting project outcomes to
company goals. Pg 30
Realistic - CORRECT ANSWER Model is appropriate to the level of resources available, the
operating environment, and capabilities of the company. Pg 31
Capable - CORRECT ANSWER The model is able to apply the pertinent factors of the
evaluation, including time, risk, cost, and internal and external environment. Pg 31
Flexible - CORRECT ANSWER Model should provide accurate measures across a reasonable
range of changing conditions. Pg 31
Easy to use - CORRECT ANSWER The model is not difficult to learn and understand in a
relatively short time; provides results readily understandable to the user.. Pg 31
Low Cost - CORRECT ANSWER Cost to run the model is economical relative to scale
(budget) of project Pg 31
Comparable - CORRECT ANSWER The model should be usable across a multitude of
projects, and not be project specific. Pg 31
Non-numeric project selection models - CORRECT ANSWER A process of selecting projects;
not limited to traditional numeric performance measures; includes Competitive Necessity, Operating
Necessity, Sacred Cow, and Checklist.
Return on Investment (ROI) - CORRECT ANSWER (NET PROFIT / COST OF
INVESTMENT) * 100 Pg 32
