UPDATED 2025/2026 Exam COMPLETE
QUESTIONS AND ANSWERS verified
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1. The professional association to which project managers belong. -
ANSWER Project Management Institute
2. Framework that describes how firms search for new project ideas. -
ANSWER Project Search Matrix
3. Source of new project ideas. - ANSWER Both the Internal and
External environments of the organization.
4. Search behavior for new project ideas. - ANSWER Aggressive,
Passive
5. A statement whose purpose it is to justify the time and money that
will be devoted to the project. - ANSWER Business Case
6. Alternative terms for Business Case Statement. - ANSWER
Problem Statement, Project Statement
7. Needs and Wants - ANSWER Difference between what client
wants and what they really need.
8. Measures of Project Success - ANSWER Preferably these
measures can be expressed in concrete terms known as metrics.
,9. The acronym for the collection of methods, skills, and concepts
associated with project management. - ANSWER Project
Management Body of Knowledge, PMBOK
10. Definition of Projects - ANSWER A sequence of related
tasks that focus on an established objective. They have a definite
beginning and end, are constrained by budgets and resources, and
must meet quality or performance standards.
11. Sub-Projects - ANSWER The division of large projects into
smaller projects
12. Person responsible for delivering a product, service, or
process to the client or customer. - ANSWER Project Manager
13. Persons with a vested interest in a project. - ANSWER
Stakeholders
14. Projects deliver? - ANSWER Products, processes, and
services.
15. Term used to express the outcome of a step or entire project.
- ANSWER Deliverable
16. Continuous Process - ANSWER No beginning or end.
Example, manufacturing line for athletic shoes. This is in contrast
to a Project whch does have a definite beginning and end.
17. Product Life Cycle - ANSWER A sequential, non-
overlapping series of product phases. In most situations, the
product life-cycle begins when a product is first delivered to a
customer or client. The last phase occurs when the product is
retired from the market altogether.
, 18. Project Life Cycle - ANSWER The process from the
beginning of a project to its end. A product life cycle may involve
several project life cycles.
19. Process Groups - ANSWER They represent the work that
must be done to complete a project. There are five process groups
including:
20. initiating
21. planning
22. executing
23. monitoring and controlling
24. closing
25. Planning - ANSWER The process group in which a detailed
WBS is created.
26. A common term used to represent the formal deliverable at
the end of the planning process. - ANSWER Project Charter
27. First major process group in the project management process.
- ANSWER Initiating
28. The term used to describe breaking a project down into
manageable tasks. - ANSWER Decomposition
29. The process group that involves actually doing the work in
the project. - ANSWER Executing
30. The process group that focuses on whether the project is
proceeding as expected. - ANSWER Monitoring and Controlling
31. Knowledge Areas - ANSWER Integration
32. scope
33. schedule/time
34. cost