C722 PreAssessment Questions with 100%
Verified Correct Answers
Project
A temporary endeavor with a specified start and end date.
Operations
Ongoing, daily organizational activities that produce revenue and expense.
Four Tenets of PMI Code of Ethics
Responsibility, Respect, Fairness, and Honesty.
Project Alignment
When a project agrees with the organization's broader strategic objectives.
Program
A group of related projects managed in a coordinated way.
Portfolio
A group of related programs supporting a long-term company goal.
SMART Goals
Specific, Measurable, Attainable, Relevant, and Time-based.
Functional Organization
A structure with clear supervisor-subordinate relationships; well-suited for government
entities.
Projectized Organization
, A structure with clear lines of authority where the project manager has full authority.
Matrix Organization
A structure where the project manager and functional manager share authority.
Project Management Office (PMO)
A department that aligns project investments to corporate strategy and standardizes practices.
Five Levels of OPM3 Maturity
Level 1: Ad hoc, Level 2: Planned, Level 3: Managed, Level 4: Integrated, Level 5:
Sustained.
Four Phases of Project Life Cycle
Defining, Planning, Executing, and Closing.
Scope Creep
Incremental additions to project scope without going through formal change control.
Project Baseline
The approved plans for scope, cost, and schedule used to measure variance.
Opportunity Cost
The benefit lost by choosing one project or investment over another.
Time Value of Money
The concept that money is worth more now than in the future.
Net Present Value (NPV)
A financial measure calculated as total future benefits minus project costs.
Verified Correct Answers
Project
A temporary endeavor with a specified start and end date.
Operations
Ongoing, daily organizational activities that produce revenue and expense.
Four Tenets of PMI Code of Ethics
Responsibility, Respect, Fairness, and Honesty.
Project Alignment
When a project agrees with the organization's broader strategic objectives.
Program
A group of related projects managed in a coordinated way.
Portfolio
A group of related programs supporting a long-term company goal.
SMART Goals
Specific, Measurable, Attainable, Relevant, and Time-based.
Functional Organization
A structure with clear supervisor-subordinate relationships; well-suited for government
entities.
Projectized Organization
, A structure with clear lines of authority where the project manager has full authority.
Matrix Organization
A structure where the project manager and functional manager share authority.
Project Management Office (PMO)
A department that aligns project investments to corporate strategy and standardizes practices.
Five Levels of OPM3 Maturity
Level 1: Ad hoc, Level 2: Planned, Level 3: Managed, Level 4: Integrated, Level 5:
Sustained.
Four Phases of Project Life Cycle
Defining, Planning, Executing, and Closing.
Scope Creep
Incremental additions to project scope without going through formal change control.
Project Baseline
The approved plans for scope, cost, and schedule used to measure variance.
Opportunity Cost
The benefit lost by choosing one project or investment over another.
Time Value of Money
The concept that money is worth more now than in the future.
Net Present Value (NPV)
A financial measure calculated as total future benefits minus project costs.
