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[7] what is the relationship between a project, a program, and a portfolio?
A Aportfolio consists of programs, and a program consists of related projects.
B The only difference s size of their scope.
c Aportfolio is focused on the financial aspects of programs and projects.
7| b ! ‘ A portfolio can consist of programs and projects; a program is a group of related projects.
Explanation
Answer D is correct.
This answer provides the best description of how all three are related. Answer B is incorrect because although the breadth of scope is generally larger from
portfolio to project, this does not describe the relationship among the three. Answer C is incorrect because portfolio management is more than the financial
management of the programs and projects within an organization, and it does not describe the relationship among them. Answer A s incorrect; a portfolio
can consist of programs, projects, and operations.
Lesson
Project Management 101
Project Environment
Exam Objectives
2. Process
Establish project governance structure
I + Correct
‘ ‘ What are some common project constraints that a project manager must balance?
A Budget, quality, PMO oversight
v B Resources, scope, schedule
€ Scope, schedule, documentation
D Scope, schedule, executive sponsorship
Explanation
Answer Bis correct
Scope, schedule, and resources are the traditional three project constraints. Answer C is incorrect because documentationis ot considered a project
constraint. Answer D is incorrect because executive sponsorship s not considered an official project constraint, aithough it may be an example of a risk
constraint. Answer A is incorrect because PMO oversightis not an official project constraint.
Lesson |
Project Management 101
Core Project Management Concepts
Exam Objectives
2. Process
Establish project governance structure
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——
, | v Correct
[7] what is the relationship between a project, a program, and a portfolio?
A Aportfolio consists of programs, and a program consists of related projects.
B The only difference s size of their scope.
c Aportfolio is focused on the financial aspects of programs and projects.
7| b ! ‘ A portfolio can consist of programs and projects; a program is a group of related projects.
Explanation
Answer D is correct.
This answer provides the best description of how all three are related. Answer B is incorrect because although the breadth of scope is generally larger from
portfolio to project, this does not describe the relationship among the three. Answer C is incorrect because portfolio management is more than the financial
management of the programs and projects within an organization, and it does not describe the relationship among them. Answer A s incorrect; a portfolio
can consist of programs, projects, and operations.
Lesson
Project Management 101
Project Environment
Exam Objectives
2. Process
Establish project governance structure
I + Correct
‘ ‘ What are some common project constraints that a project manager must balance?
A Budget, quality, PMO oversight
v B Resources, scope, schedule
€ Scope, schedule, documentation
D Scope, schedule, executive sponsorship
Explanation
Answer Bis correct
Scope, schedule, and resources are the traditional three project constraints. Answer C is incorrect because documentationis ot considered a project
constraint. Answer D is incorrect because executive sponsorship s not considered an official project constraint, aithough it may be an example of a risk
constraint. Answer A is incorrect because PMO oversightis not an official project constraint.
Lesson |
Project Management 101
Core Project Management Concepts
Exam Objectives
2. Process
Establish project governance structure
