C722 Review Questions with 100% Verified
Correct Answers
Medium Project
1, 3-5 years
Scope
The number and type of features or functions.
Portfolio
Consists of programs
Programs
Consist of projects
Project Life Cycle
Defining
Planning
Executing
Closing
Triple Constraints
Time
Cost
Scope
Role of project manager
,Interpersonal skills
Triple constraints
In touch with upper managers, communication plans, reports, communication tools,
conflict/communication skills
APM
Association for Project Management
PMI
Project Management Institute
IPMA
International Project Management Association
AXELOS
Company Partnered with UK government and develop 1 project management method called
Prince 2. - Kind of like the PMI that we use in US
Functional Organizations
Harder to move in these organizations, especially in large companies.
Spend time in page 24
Advantages and disadvantages
Ad hoc
Levels 1-5 (LEARN)
Sacred cow
Refers to decision the owner or someone from high power can make.
, Payback period
How long will it take to get your money back
Internal rate of return
100 dollars in bank will give you 103 dollars at the end - how much will project bring back at
the end of the year. Basically sees the projects as investments.
Net present value
Difference between cash inflow and outflow over a period of time.
Time value of money
They prefer 1 dollar now than 1 dollar later due to what it's potential earnings can be in the
interim.
Pages 31, 32, 33, 39
Pages 48-51,
Procurement management plan
Includes the processes necessary to acquire products, services, or results needed from outside
the project team.
Type of projects
Traditional - Everything else
Agile - tech (hardware and software)
Operation
Correct Answers
Medium Project
1, 3-5 years
Scope
The number and type of features or functions.
Portfolio
Consists of programs
Programs
Consist of projects
Project Life Cycle
Defining
Planning
Executing
Closing
Triple Constraints
Time
Cost
Scope
Role of project manager
,Interpersonal skills
Triple constraints
In touch with upper managers, communication plans, reports, communication tools,
conflict/communication skills
APM
Association for Project Management
PMI
Project Management Institute
IPMA
International Project Management Association
AXELOS
Company Partnered with UK government and develop 1 project management method called
Prince 2. - Kind of like the PMI that we use in US
Functional Organizations
Harder to move in these organizations, especially in large companies.
Spend time in page 24
Advantages and disadvantages
Ad hoc
Levels 1-5 (LEARN)
Sacred cow
Refers to decision the owner or someone from high power can make.
, Payback period
How long will it take to get your money back
Internal rate of return
100 dollars in bank will give you 103 dollars at the end - how much will project bring back at
the end of the year. Basically sees the projects as investments.
Net present value
Difference between cash inflow and outflow over a period of time.
Time value of money
They prefer 1 dollar now than 1 dollar later due to what it's potential earnings can be in the
interim.
Pages 31, 32, 33, 39
Pages 48-51,
Procurement management plan
Includes the processes necessary to acquire products, services, or results needed from outside
the project team.
Type of projects
Traditional - Everything else
Agile - tech (hardware and software)
Operation
