1|Page
Project Management- C722
Questions with Detailed Verified
Answers
portfolio Ans: a group of related programs that support a long-term
company goal or objective Pg 13
program Ans: a group of related projects Pg 13
project Ans: an activity or group of activities to generate a new, unique
product, service, or results to support that program Pg 13
charter Ans: a document that, like a contract, is agreed upon by the sponsor
and key stakeholders. It defines the project and authorizes the resources,
roles, responsibilities, authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely Ans: Criteria of specific
objectives that are unique to a project are referred to as SMART which stands
for what Pg 15
triple constraint Ans: cost (budget), schedule (time), and scope (deliverables)
Pg 17
stakeholder analysis Ans: analysis to define the relevant stakeholders, their
interests, and their communication needs Pg 19
Change Control Board (CCB) Ans: a group of people who track changes in a
project and can be used as a governance tool Pg 19
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Work Breakdown Structures (WBS) Ans: a key tool so that people understand
what is expected of them and how they will be held accountable Pg 21
Project Management Institute (PMI) Ans: Founded in 1969, it's headquartered
in Newton, PA, and has member chapters on every continent (except
Antarctica). Publishes foundational and practice standards and is the largest in
the world. Pg 22
Association for Project Management (APM) Ans: A UK-based charter
organization that is the largest professional body of its kind in Europe.
Formed in 1972, it's membership is primarily limited to the United Kingdom.
Pg 22
International Project Management Association (IPMA) Ans: the world's first
project management association, founded in 1965. The leading authority on
competent project, programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd Ans: a joint venture between the government of the United
Kingdom and Captia PLC. It was formed to manage and grow a number of
standards and associated certifications developed by the Cabinet office,
including ITIL (Information Technology Infrastructure Library), PRINCE2, and
Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons Ans: Pros: Lines of
authority are clear; work is easily prioritized by identified departmental
authority
Cons: Utilizing resources across functions can be difficult; project is not
managed holistically
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Projectized Organization pros and cons Ans: Pros: Clear lines of authority;
project is managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME
assigned may not have the most appropriate knowledge or expertise for the
project
Matrix Organization pros and cons Ans: Pros: Central focus is the project;
issues are responded to quickly.
Cons: Requires cooperation and coordination between and among functional
departments and project managers; resource balancing between projects can
lead to friction.
project management office (PMO) Ans: A process for determining if the level
of documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level Ans: Determined by the
comprehensiveness of written procedures to accomplish tasks in each of the
process areas identified by PMI. Pg 26
alignment Ans: Term used to describe connecting project outcomes to
company goals. Pg 30
Realistic Ans: Model is appropriate to the level of resources available, the
operating environment, and capabilities of the company. Pg 31
Project Management- C722
Questions with Detailed Verified
Answers
portfolio Ans: a group of related programs that support a long-term
company goal or objective Pg 13
program Ans: a group of related projects Pg 13
project Ans: an activity or group of activities to generate a new, unique
product, service, or results to support that program Pg 13
charter Ans: a document that, like a contract, is agreed upon by the sponsor
and key stakeholders. It defines the project and authorizes the resources,
roles, responsibilities, authorities, and scope for the project Pg 13
Specific, measurable, attainable, relevant, timely Ans: Criteria of specific
objectives that are unique to a project are referred to as SMART which stands
for what Pg 15
triple constraint Ans: cost (budget), schedule (time), and scope (deliverables)
Pg 17
stakeholder analysis Ans: analysis to define the relevant stakeholders, their
interests, and their communication needs Pg 19
Change Control Board (CCB) Ans: a group of people who track changes in a
project and can be used as a governance tool Pg 19
,2|Page
Work Breakdown Structures (WBS) Ans: a key tool so that people understand
what is expected of them and how they will be held accountable Pg 21
Project Management Institute (PMI) Ans: Founded in 1969, it's headquartered
in Newton, PA, and has member chapters on every continent (except
Antarctica). Publishes foundational and practice standards and is the largest in
the world. Pg 22
Association for Project Management (APM) Ans: A UK-based charter
organization that is the largest professional body of its kind in Europe.
Formed in 1972, it's membership is primarily limited to the United Kingdom.
Pg 22
International Project Management Association (IPMA) Ans: the world's first
project management association, founded in 1965. The leading authority on
competent project, programme, and portfolio management (PPPM) Pg 22
AXELOS, Ltd Ans: a joint venture between the government of the United
Kingdom and Captia PLC. It was formed to manage and grow a number of
standards and associated certifications developed by the Cabinet office,
including ITIL (Information Technology Infrastructure Library), PRINCE2, and
Managing Successful Programs (MSP). Pg 22
Functional (Departmentalized) Organization pros/cons Ans: Pros: Lines of
authority are clear; work is easily prioritized by identified departmental
authority
Cons: Utilizing resources across functions can be difficult; project is not
managed holistically
, 3|Page
Projectized Organization pros and cons Ans: Pros: Clear lines of authority;
project is managed holistically; gain historical data from prior projects.
Cons: Approach is expensive because of the duplication of personnel; SME
assigned may not have the most appropriate knowledge or expertise for the
project
Matrix Organization pros and cons Ans: Pros: Central focus is the project;
issues are responded to quickly.
Cons: Requires cooperation and coordination between and among functional
departments and project managers; resource balancing between projects can
lead to friction.
project management office (PMO) Ans: A process for determining if the level
of documentation and best practices followed in project execution. Pg 26
Project Management Maturity Level Ans: Determined by the
comprehensiveness of written procedures to accomplish tasks in each of the
process areas identified by PMI. Pg 26
alignment Ans: Term used to describe connecting project outcomes to
company goals. Pg 30
Realistic Ans: Model is appropriate to the level of resources available, the
operating environment, and capabilities of the company. Pg 31
