Project Management- C722 | 154 Questions and Answers (Verified 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 22Association 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