Comprehensive PMP Exam Prep: Project
Lifecycle, Processes, and Methodologies
UPDATED Study Guide QUESTIONS
AND CORRECT ANSWSER
Project - CORRECT ANSWERS A temporary endeavor that produces a
unique product, service (labor intensive), or result (tests a theory)
Temporary - CORRECT ANSWERS In nature and has a definite
Beginning and Ending
Program - CORRECT ANSWERS Group of related projects managed in
a coordinated way to obtain benefits and control not available from managing
them individually
Project Management - CORRECT ANSWERS The application of
knowledge, skills, tools and techniques to satisfy project requirements
PMO (Project Management Office) - CORRECT ANSWERS
Organizational Structure that standardizes the processes and facilitates
the sharing of resources, methodologies, tools, and techniques
Portfolio Management - CORRECT ANSWERS A portfolio is a
collection of projects, programs, subsidiary portfolios, and operations managed
as a group to achieve strategic objectives
Operations Management - CORRECT ANSWERS Deals with the
ongoing production of goods and/or services. Does not have a start date and end
date like Project management! ONGOING.
,Progressively Elaborated - CORRECT ANSWERS Means when time is
progressing, things in a project become more elaborated
Phase - CORRECT ANSWERS A collection of logically related project
activities that culminates in the completion of one or more deliverables
Supportive PMO - CORRECT ANSWERS Supports the project manager,
such as providing templates, training, or lessons learned from other projects
Controlling PMO - CORRECT ANSWERS Determines the framework of
methodology and use of specific forms
Directive PMO - CORRECT ANSWERS Controls the project. PM will
be assigned and report to the PMO
Project Interdependencies - CORRECT ANSWERS Focuses on the
project interdependencies and helps to determine the optimal approach for
managing them
Value Add in Program Management - CORRECT ANSWERS Must be
some value add in managing them together as a program instead of individually
Current State to Desired State - CORRECT ANSWERS Takes a
company from a current state to a desired state
Change Enablement - CORRECT ANSWERS Projects can be a vehicle
for change in an organization
Estimates in Project Management - CORRECT ANSWERS As things
progress, estimates, locations, costs all begin to become more precise
,Management Plan Development - CORRECT ANSWERS Developing
and implementing a management plan for the project (how to develop a scope)
Risk Management - CORRECT ANSWERS Managing the risks, issues,
and changes on the project
Monitoring Progress - CORRECT ANSWERS Monitoring progress
against plan (projects will always have issues)
Closing the Project - CORRECT ANSWERS Closing the project in a
controlled fashion when appropriate
Deliverable - CORRECT ANSWERS Any unique and verifiable product,
service or result that may be tangible or intangible and must be accepted by the
customer or sponsor for the phase.
Project Lifecycle - CORRECT ANSWERS A representation of the
phases that a project typically goes through from start to finish, which can be
either predictive or adaptive.
Predictive Methods - CORRECT ANSWERS Methods where the scope
has been done and completed before, meaning the scope doesn't change, such as
building a skyscraper.
Change - CORRECT ANSWERS When scope changes throughout the
project.
Project Governance - CORRECT ANSWERS Framework or 'Rules'
within which project decisions are made, varying from organization to
organization.
, Three Pillars of Project Governance - CORRECT ANSWERS Structure,
people, and information.
Stakeholders - CORRECT ANSWERS Individuals, groups, or
organizations that may affect, be affected, or perceive to be affected by the
project.
Project Managers - CORRECT ANSWERS Individuals who manage the
project.
Customer - CORRECT ANSWERS The most important stakeholder who
uses the project deliverable.
Project Team - CORRECT ANSWERS The collection of individuals
completing the project work.
Project Sponsor - CORRECT ANSWERS Provides resources and support
for the project, essentially funding it.
Functional Manager - CORRECT ANSWERS Departmental Manager
who generally controls resources and can be a source of conflict with Project
Managers.
Project Manager Role - CORRECT ANSWERS Includes various roles
such as initiator, negotiator, listener, coach, working member, and facilitator.
Initiator - CORRECT ANSWERS Someone who takes the first steps or
proposes an idea or action.
Lifecycle, Processes, and Methodologies
UPDATED Study Guide QUESTIONS
AND CORRECT ANSWSER
Project - CORRECT ANSWERS A temporary endeavor that produces a
unique product, service (labor intensive), or result (tests a theory)
Temporary - CORRECT ANSWERS In nature and has a definite
Beginning and Ending
Program - CORRECT ANSWERS Group of related projects managed in
a coordinated way to obtain benefits and control not available from managing
them individually
Project Management - CORRECT ANSWERS The application of
knowledge, skills, tools and techniques to satisfy project requirements
PMO (Project Management Office) - CORRECT ANSWERS
Organizational Structure that standardizes the processes and facilitates
the sharing of resources, methodologies, tools, and techniques
Portfolio Management - CORRECT ANSWERS A portfolio is a
collection of projects, programs, subsidiary portfolios, and operations managed
as a group to achieve strategic objectives
Operations Management - CORRECT ANSWERS Deals with the
ongoing production of goods and/or services. Does not have a start date and end
date like Project management! ONGOING.
,Progressively Elaborated - CORRECT ANSWERS Means when time is
progressing, things in a project become more elaborated
Phase - CORRECT ANSWERS A collection of logically related project
activities that culminates in the completion of one or more deliverables
Supportive PMO - CORRECT ANSWERS Supports the project manager,
such as providing templates, training, or lessons learned from other projects
Controlling PMO - CORRECT ANSWERS Determines the framework of
methodology and use of specific forms
Directive PMO - CORRECT ANSWERS Controls the project. PM will
be assigned and report to the PMO
Project Interdependencies - CORRECT ANSWERS Focuses on the
project interdependencies and helps to determine the optimal approach for
managing them
Value Add in Program Management - CORRECT ANSWERS Must be
some value add in managing them together as a program instead of individually
Current State to Desired State - CORRECT ANSWERS Takes a
company from a current state to a desired state
Change Enablement - CORRECT ANSWERS Projects can be a vehicle
for change in an organization
Estimates in Project Management - CORRECT ANSWERS As things
progress, estimates, locations, costs all begin to become more precise
,Management Plan Development - CORRECT ANSWERS Developing
and implementing a management plan for the project (how to develop a scope)
Risk Management - CORRECT ANSWERS Managing the risks, issues,
and changes on the project
Monitoring Progress - CORRECT ANSWERS Monitoring progress
against plan (projects will always have issues)
Closing the Project - CORRECT ANSWERS Closing the project in a
controlled fashion when appropriate
Deliverable - CORRECT ANSWERS Any unique and verifiable product,
service or result that may be tangible or intangible and must be accepted by the
customer or sponsor for the phase.
Project Lifecycle - CORRECT ANSWERS A representation of the
phases that a project typically goes through from start to finish, which can be
either predictive or adaptive.
Predictive Methods - CORRECT ANSWERS Methods where the scope
has been done and completed before, meaning the scope doesn't change, such as
building a skyscraper.
Change - CORRECT ANSWERS When scope changes throughout the
project.
Project Governance - CORRECT ANSWERS Framework or 'Rules'
within which project decisions are made, varying from organization to
organization.
, Three Pillars of Project Governance - CORRECT ANSWERS Structure,
people, and information.
Stakeholders - CORRECT ANSWERS Individuals, groups, or
organizations that may affect, be affected, or perceive to be affected by the
project.
Project Managers - CORRECT ANSWERS Individuals who manage the
project.
Customer - CORRECT ANSWERS The most important stakeholder who
uses the project deliverable.
Project Team - CORRECT ANSWERS The collection of individuals
completing the project work.
Project Sponsor - CORRECT ANSWERS Provides resources and support
for the project, essentially funding it.
Functional Manager - CORRECT ANSWERS Departmental Manager
who generally controls resources and can be a source of conflict with Project
Managers.
Project Manager Role - CORRECT ANSWERS Includes various roles
such as initiator, negotiator, listener, coach, working member, and facilitator.
Initiator - CORRECT ANSWERS Someone who takes the first steps or
proposes an idea or action.
