PROJECT MANAGEMENT
EXAM PRACTICE QUESTIONS
AND CORRECT ANSWERS
GRADED A+|ASSURED
SUCCESS
Definition of a "Project" - ✔✔ANSWER✔✔-Temporary
endeavour, with a beginning and end, to create a unique
produce, service/result by producing deliverables.
,Definition of "Deliverable" - ✔✔ANSWER✔✔-Unique,
verifiable product, result, or capability to perform a service
required to produce a process, phase, or project.
What are the "Qualities of a Project"? - ✔✔ANSWER✔✔-1.
Unique result/product/service.
2. Temporary endeavour.
3. Drives change.
4. Enables business value creation.
Why undertake a project? - ✔✔ANSWER✔✔-1. Create value
and benefits.
2. Used to remain competitive in the global economy.
3. Managed within a limited budget, timeline, resources, and
technology.
What Factors Cause a Project to Start? - ✔✔ANSWER✔✔-1.
Mandatory regulatory, legal, or social requirements.
2. Satisfy stakeholder requests or needs.
3. Implement or change business or technological strategies.
4. Create, improve, or fix products, processes, or services.
,What is "Project Management"? - ✔✔ANSWER✔✔-
Application of knowledge, skills, tools, techniques to project
activities to meet project requirements.
What is Effective Project Management? - ✔✔ANSWER✔✔-
Helps organizations meet business objectives, eliver
products, resolve problems, and generate other benefits.
What is a "Program"? - ✔✔ANSWER✔✔-A group of related
projects, subsidiary programs, and/or program activities that
accomplish a set of goals.
NOT large projects.
What is "Program Management"? - ✔✔ANSWER✔✔-Focuses
on interdependencies between projects and program level to
determine optimal approach to managing them.
Why undertake Program Management? - ✔✔ANSWER✔✔-
Since a program is made of subsidiary programs and projects,
there are benefits to managing them together.
What is a "Portfolio"? - ✔✔ANSWER✔✔-Group of projects,
programs, subsidiary portfolios, and operation managed as a
group to achieve strategic objectives.
, What is "Portfolio Management"? - ✔✔ANSWER✔✔-
Facilitates effective governance and management of work
that helps achieve organizational strategies and priorities.
Aligns portfolios with organizational strategies by selecting
the right programs or projects, prioritizing the work, and
providing needed resources.
Focuses on doing the "right" programs and projects to align
with business strategy.
What are "Operations"? - ✔✔ANSWER✔✔-Transform
resources or data inputs into desired goods, services, or
results, and delivers value to the customer.
The are ongoing and managed by organizational managers.
What is "Operations Management"? - ✔✔ANSWER✔✔-
Ongoing production and continued efficiency to meet
customer demands.
Does not pertain to formal project management.
What is the "Project Lifecycle"? - ✔✔ANSWER✔✔-The
phases a project passes through from start to end.