MBA 742 Module 1 Exam Questions With Correct Answers

MBA 742 Module 1 Exam Questions With Correct Answers Project management institute - answerPMI *not for profit* project management body of knowledge - answerpmbok project, product, service, result - answer____ is a temporary endeavor undertaken to create a unique product, service, or result Must have a beginning and end; weeks to years Typically yield: 1. _____ 2. Capability to perform a ___ 3. ____ project management - answer____ the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements program - answer____ a *group of related projects* managed in a coordinated way to obtain benefits (and control) not available managing them *individually* requirements, communication, stakeholders, constraints - answerPM includes but not limited to 1. Identifying ___ 2. ___ 3. Managing ___ 4. Balancing project ____ EXAM STUDY MATERIALS July 29, 2024 12:59 PM 49, 5, initiation, planning, execution, monitoring/controlling, closing - answerPM is accomplished through applying and integrating the ___ individual PM processes, which are categorized into ___ PM process groups which are 1 2 3 4 5 projects - answer____ drive change in organizations: from a business perspective, a project is aimed at moving an organization from one state (current) to another state (future/desired) in order to achieve a specific objective or set of objectives portfolio - answerProgram and PM focus on doing programs and projects the RIGHT way ____ management focuses on doing the RIGHT projects and programs language, processes, methodology, training, benchmarking, improvement - answerBenefits of standardizing PM within an organization 1. common ___ 2. common ____ 3. single ___ and ___ 4. ___ 5. continuous improvement projects - answer____ are often utilized as a means of achieving an organization's strategic plan. A way to organize activities that cannot be addressed within an organization's normal operational structures. project, program, excellence - answerSome organization's structure projects around ___ management office ___ management office centers of ____ EXAM STUDY MATERIALS July 29, 2024 12:59 PM portfolio, mature - answerThe relationship between the business objectives and the project ___ is typically more apparent the more ___ an organization is. More highly mature organizations tend to have more infrastructure support for the project team and tend to better facilitate communications about project priorities and resource needs. integrated, estimating, budgeting, analyzing, resource - answerAn ___ PM methodology provides benefits to an organization, providing consistency across projects for things: 1 2 3 4 ___ success or failure 5 ___ (employee) utilization and needs portfolio, resource - answer___ management governance provides or facilitates the following in an organization: 1. selection and prioritization guidelines or criteria of projects or programs 2. ___ management 3. process, productivity, and quality improvements, through consistent capturing and review of lessons learned and trend analysis governance, financial, market, competition, future, operations, maintenance, regulation - answerPMI states that all potential project selection should go through ____ criteria 1. What is the __ benefit of the project? ROI 2. __ need 3. Market ____ 4. Market ___ positioning 5. ___ and ___ cost 6. ___ selection - answerOne of the primary c