Project Management- C722 Exam Questions
with 100% Verified Correct Answers
portfolio
a group of related programs that support a long-term company goal or objective Pg 13
program
a group of related projects Pg 13
project
an activity or group of activities to generate a new, unique product, service, or results to
support that program Pg 13
charter
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
Criteria of specific objectives that are unique to a project are referred to as SMART which
stands for what Pg 15
triple constraint
cost (budget), schedule (time), and scope (deliverables) Pg 17
stakeholder analysis
analysis to define the relevant stakeholders, their interests, and their communication needs Pg
19
,Change Control Board (CCB)
a group of people who track changes in a project and can be used as a governance tool Pg 19
Work Breakdown Structures (WBS)
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)
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)
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)
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
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
, 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
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
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)
A process for determining if the level of documentation and best practices followed in project
execution. Pg 26
Project Management Maturity Level
Determined by the comprehensiveness of written procedures to accomplish tasks in each of
the process areas identified by PMI. Pg 26
alignment
with 100% Verified Correct Answers
portfolio
a group of related programs that support a long-term company goal or objective Pg 13
program
a group of related projects Pg 13
project
an activity or group of activities to generate a new, unique product, service, or results to
support that program Pg 13
charter
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
Criteria of specific objectives that are unique to a project are referred to as SMART which
stands for what Pg 15
triple constraint
cost (budget), schedule (time), and scope (deliverables) Pg 17
stakeholder analysis
analysis to define the relevant stakeholders, their interests, and their communication needs Pg
19
,Change Control Board (CCB)
a group of people who track changes in a project and can be used as a governance tool Pg 19
Work Breakdown Structures (WBS)
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)
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)
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)
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
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
, 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
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
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)
A process for determining if the level of documentation and best practices followed in project
execution. Pg 26
Project Management Maturity Level
Determined by the comprehensiveness of written procedures to accomplish tasks in each of
the process areas identified by PMI. Pg 26
alignment
