MBA 742 Exam 1 Questions and Actual
Answers.
project - Answer a temporary endeavor undertaken to create a unique product, service, or
result
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
1. initiation
2. planning
3. executing
4. monitoring and controlling
5. closing - Answer what are the five project management process groups
program management - Answer what term focuses on doing programs and projects the "right"
way
portfolio management - Answer what term focuses on doing the "right" programs and projects
1. common language
2. common processes
3. singular methodology and training
4. benchmarking
5. continuous improvement - Answer what are the 5 benefits of standardizing project
management within an organization
1. what is the financial benefit of the project? ROI?
2. market need
, 1. predictive
2. iterative
3. incremental
4. adaptive (also known as change-driven or agile) - Answer what are the 4 major categories of
project life cycles
progressive elaboration (or rolling wave planning) - Answer what term is the iterative process
of increasing the level of detail in a project management plan as greater amounts of information
and more accurate estimates become available
initiating - Answer what processes are used at the start of a project or life-cycle phase
planning - Answer what processes are used to further elaborate the information in the
initiating processes; help ensure the project will achieve the project's objective
executing - Answer what processes are used to complete the project work
monitoring and controlling - Answer what processes compare the planned work to the
accomplished work to determine if corrective or preventive action is required; used to ensure
the project is performing as planned
70% - Answer what percent of your time should be spent planning, monitoring and
controlling, and then re-planning
1. project integration management
2. project scope management
3. project schedule management
4. project cost management
5. project quality management
6. project resources management
7. project communications management
8. project risk management
Answers.
project - Answer a temporary endeavor undertaken to create a unique product, service, or
result
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
1. initiation
2. planning
3. executing
4. monitoring and controlling
5. closing - Answer what are the five project management process groups
program management - Answer what term focuses on doing programs and projects the "right"
way
portfolio management - Answer what term focuses on doing the "right" programs and projects
1. common language
2. common processes
3. singular methodology and training
4. benchmarking
5. continuous improvement - Answer what are the 5 benefits of standardizing project
management within an organization
1. what is the financial benefit of the project? ROI?
2. market need
, 1. predictive
2. iterative
3. incremental
4. adaptive (also known as change-driven or agile) - Answer what are the 4 major categories of
project life cycles
progressive elaboration (or rolling wave planning) - Answer what term is the iterative process
of increasing the level of detail in a project management plan as greater amounts of information
and more accurate estimates become available
initiating - Answer what processes are used at the start of a project or life-cycle phase
planning - Answer what processes are used to further elaborate the information in the
initiating processes; help ensure the project will achieve the project's objective
executing - Answer what processes are used to complete the project work
monitoring and controlling - Answer what processes compare the planned work to the
accomplished work to determine if corrective or preventive action is required; used to ensure
the project is performing as planned
70% - Answer what percent of your time should be spent planning, monitoring and
controlling, and then re-planning
1. project integration management
2. project scope management
3. project schedule management
4. project cost management
5. project quality management
6. project resources management
7. project communications management
8. project risk management
