EXAM 2025 QUESTIONS AND ANSWERS
Projects - ANS A temporary activity that creates a unique result.
Initiatives with specific goals and start and end dates.
Develop a new product or service reduces cost add technology.
Example of Projects - ANS * A car company developing a new passenger car.
* A freight company adding a computer program to optimize cargo carrying capacity.
* A construction company building a new facility for a customer.
Operations - ANS Day-to-day activities in an organization. Continuous/ongoing.
Examples of Operations - ANS * A car company making cars.
* An airline flying passsengers.
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, * A CPA firm completing taxes for clients.
Product - ANS Something created by a project.
Example of Product - ANS * A flu vaccine.
* An office building.
* The movie you just watched.
* The design of the vehicle you drive.
Business Scenario - ANS An imagined or projected sequence of events that is representative
of a significant business need or problem, enables vendors to understand the value to the
customer organization of a developed solution.
Business Scenarios have this information: - Past events that are relevant- Current key
information- Expected or desired outcomes
Business Strategy - ANS The activities, methods, tactics, etc. that will be employed to meet
the business's goals. Determined by senior management in the organization to improve the
value of the company to its stakeholders.
Subject Matter Expert (SME) - ANS A person who is an authority in a particular area or
project.
Program - ANS A group of related projects.
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, Portfolio - ANS A group of initiatives (projects and programs) that a company engages in to
improve its operations.
Charter - ANS The definition of a project according to stakeholders. Defines how customer
will determine if project met expectations. Includes a beginning, work steps, and clear and
defined end.
Business Case - ANS The justification for a project - Explains the business need.
Project Life Cycle Phases - ANS Defining, Planning Executing, Closing
Defining - ANS Idea for project is generated and formalized. Decision on whether to
implement is made. Ends when project charter is approved.
Planning - ANS Where detailed planning occurs. Level of detail aligns with the complexity of
the project. Use Work Breakdown Structure to identify outcomes needed.
Can require significant time for large projects.
Typically ends when baselines for scope, budget, and schedule are approved by the customer
and/or sponsor and project team.
Executing - ANS Where most of the work is done.
Deliverables are completed. Progress is monitored and actions taken as needed to stay on
track.
May return to planning phase as needed if objectives can't be met, to modify budget, schedule,
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, Critical to be careful of scope creep - don't add functionality without considering impact.
This phase is complete when all work activities and deliverables are ready to be delivered to
customer/sponsor.
Closing - ANS When project outcomes are delivered to the customer and/or sponsor.
Project Manager ties up loose ends
* Reassign project resources back to company
* Document project results and lessons learned
* Close out procurement activities
* Verify completed project is transitoned to customer
SMART Goals - ANS * Specific
* Measurable
* Achievable
* Relevant
* Time Based
Project Management - ANS The act of running a project and encompasses the use of general
management or specific project management knowledge, skills, tools, and techniques to ensure
that the project meets its goals.
Project Sponsor - ANS The individual (often manager or executive) with overall accountability
for a project. Primarily concerned with ensuring project delivers agreed upon benefits.
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