ITPM Exam Questions and Correct Answers

Definition of Project (1) Ans: - Temporary endeavor - unique product, service or result. - A complex, non-routine, one-time effort. - It has a start and an end, scope, and boundaries are distinct from business as usual. Definition of Project Manager Ans: The person assigned by the performing organization to achieve the project objectives. Characteristics of a project Ans: - Established Objectives - Defined Scope - Defined Life Span - Requires cross-organizational effort - Involves doing something never done before - has specific time, cost and performance requirements Definition of Programs Ans: A collection of projects within a project portfolio whose activities are cooridnated so that the benefits of the programme are greater than the sum of benefits of individual projects. Definition of Project Portfolio Ans: A collection of diverse projects managed collectively to align with the organizational strategy and overall plan to achieve competitive advantage. Definition of Project Management Ans: Application of knowledge, skills, tools and techniques to project actitivities to meet specific objectives within a given time frame and given resources. A successful project is defined as: Ans: one that is completed on time, within budget and includes all the features and requirements envisioned. Why Projects Fail? Ans: People Processes Technology Organization Improving the Likelihood of Success Ans: A value driven approach Socio-technical approach PM approach Knowledge management approach PM Professional Bodies Ans: APM: Association for PM BSi: British Standard Institute ISO: International Standards Organization PRINCE2 10 PM Knowledge Areas Ans: 1. Integration 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Communication 8. Risk 9. Procurement 10. Stakeholder integration - Scope - Time - Cost - Quality - HR - Communiaction - Risk - Procurement - Stakeholde