PROJECT MANAGEMENT THE MANAGERIAL
PROCESS SOLUTION MANUAL 2026 MOCK
PAPER COMPREHENSIVE REVIEW NOTES
ANALYTICAL SUMMARY
◉ The major characteristics of a project are as follows:
Answer: 1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and
professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
◉ A program
Answer: is a group of related projects designed to accomplish a
common goal over an extended period of time.
,◉ Program Management
Answer: Program management is the process of managing a group of
ongoing, interdependent, related projects in a coordinated way to
achieve strategic objectives.
◉ Project Life Cycle
Answer: The stages found in all projects— definition, planning,
execution, and delivery.
◉ Project Life Cycle - Defining Stage:
Answer: Specifications of the project are defined; project objectives
are established; teams are formed; major responsibilities are
assigned.
◉ Project Life Cycle - Planning Stage:
Answer: The level of effort increases, and plans are developed to
determine what the project will entail, when it will be scheduled,
whom it will benefit, what quality level should be maintained, and
what the budget will be.
◉ Project Life Cycle - Executing Stage:
Answer: A major portion of the project work takes place—both
physical and mental. The physical product is produced (a bridge, a
report, a software program). Time, cost, and specification measures
are used for control. Is the project on schedule, on budget, and
,meeting specifications? What are the forecasts of each of these
measures? What revisions/changes are necessary?
◉ Project Life Cycle - Closing Stage:
Answer: Closing includes three activities: delivering the project
product to the customer, redeploying project resources, and post-
project review.
◉ A 6 month project delay can result in a _____ percent loss in
product revenue share.
Answer: 33%
◉ Triple Bottom Line:
Answer: Planet, People, Profit
◉ Strategic Management:
Answer: The process of assessing "what we are" and deciding and
implementing "what we intend to be and how we are going to get
there."
◉ Two major dimensions of strategic management:
Answer: responding to changes in the external environment and
allocating scarce resources of the firm to improve its competitive
position.
, ◉ Four Activities of the Strategic Management Process:
Answer: 1. Review and define the organizational mission.
2. Analyze and formulate strategies.
3. Set objectives to achieve strategy.
4. Implement strategies through projects.
◉ SWOT analysis
Answer: strengths, weaknesses, opportunities, threats
◉ Characteristics of objectives - SMART:
Answer: Specific, Measurable, Assignable, Realistic, Time related
◉ Project priority system
Answer: The process used to select projects. The system uses
selected criteria for evaluating and selecting projects that are
strongly linked to higher level strategies and objectives.
◉ Project portfolio
PROCESS SOLUTION MANUAL 2026 MOCK
PAPER COMPREHENSIVE REVIEW NOTES
ANALYTICAL SUMMARY
◉ The major characteristics of a project are as follows:
Answer: 1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and
professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
◉ A program
Answer: is a group of related projects designed to accomplish a
common goal over an extended period of time.
,◉ Program Management
Answer: Program management is the process of managing a group of
ongoing, interdependent, related projects in a coordinated way to
achieve strategic objectives.
◉ Project Life Cycle
Answer: The stages found in all projects— definition, planning,
execution, and delivery.
◉ Project Life Cycle - Defining Stage:
Answer: Specifications of the project are defined; project objectives
are established; teams are formed; major responsibilities are
assigned.
◉ Project Life Cycle - Planning Stage:
Answer: The level of effort increases, and plans are developed to
determine what the project will entail, when it will be scheduled,
whom it will benefit, what quality level should be maintained, and
what the budget will be.
◉ Project Life Cycle - Executing Stage:
Answer: A major portion of the project work takes place—both
physical and mental. The physical product is produced (a bridge, a
report, a software program). Time, cost, and specification measures
are used for control. Is the project on schedule, on budget, and
,meeting specifications? What are the forecasts of each of these
measures? What revisions/changes are necessary?
◉ Project Life Cycle - Closing Stage:
Answer: Closing includes three activities: delivering the project
product to the customer, redeploying project resources, and post-
project review.
◉ A 6 month project delay can result in a _____ percent loss in
product revenue share.
Answer: 33%
◉ Triple Bottom Line:
Answer: Planet, People, Profit
◉ Strategic Management:
Answer: The process of assessing "what we are" and deciding and
implementing "what we intend to be and how we are going to get
there."
◉ Two major dimensions of strategic management:
Answer: responding to changes in the external environment and
allocating scarce resources of the firm to improve its competitive
position.
, ◉ Four Activities of the Strategic Management Process:
Answer: 1. Review and define the organizational mission.
2. Analyze and formulate strategies.
3. Set objectives to achieve strategy.
4. Implement strategies through projects.
◉ SWOT analysis
Answer: strengths, weaknesses, opportunities, threats
◉ Characteristics of objectives - SMART:
Answer: Specific, Measurable, Assignable, Realistic, Time related
◉ Project priority system
Answer: The process used to select projects. The system uses
selected criteria for evaluating and selecting projects that are
strongly linked to higher level strategies and objectives.
◉ Project portfolio
