PROJECT MANAGEMENT- C722|QUESTIONS WITH 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, its 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