PMP Exam Comprehensive
Questions with Verified
Answers Graded A+
Three ways to run projects - Answer: 1. Traditional
2. Agile
3. Hybrid
Project - Answer: A temporary endeavor that produces a unique product, service or result
*Temporary in nature and has a definite beginning and ending
Unique, Temporary, Progressively elaborated
Progressively Elaborated - Answer: As time is progressing, things become more elaborative
One of the elements of a project
You may not know much as you start a project, but as you work, you start to know more as the
project progresses. You get more information from stakeholders, estimates become more
precise, etc.
Project Management - Answer: The application of knowledge, skills, tools and techniques to
satisfy project requirements
,Ex:
-Preparing a business case to justify the investment
-Estimating resources and times
-Developing and implementing a management plan for the project
-Leading and motivating the project delivery team
-Managing the risks, issues, and changes on the project
-Monitoring progress against plan
-Closing the project in a controlled fashion when appropriate
Operations Management - Answer: Deals with the ongoing production of goods and/or services
Considers the acquisition, development, and utilization of resources that firms need to deliver
the goods and services
*Different from a project in that it is ongoing, not temporary
Ex: something like sales; this is not a project, it is ongoing
Portfolio Management - Answer: A portfolio is a collection of projects, programs, subsidiary
portfolios, and operations managed as a group to achieve strategic objectives.
Used to accomplish the long-term goal of an organization
Phase - Answer: A collection of logically related project activities that culminates in the
completion of one or more deliverables.
Number of phases depends on the industry type and size and the complexity of the project
,Deliverable - Answer: Any unique and verifiable product, service or result
May be tangible or intangible
Must be accepted by the customer or sponsor for the phase
Who accepts a deliverable? - Answer: A customer or a sponsor for the phase
When does a phase finish/complete? - Answer: When a deliverable is done, formally accepted
by a customer or sponsor for the phase
Program Management - Answer: -A group of related projects managed in a coordinate way to
obtain benefits and control not available from managing them individually.
-Focuses on the project interdependencies and helps to determine the optimal approach for
managing them
Project Life Cycle - Answer: A representation of the phases that a project typically goes through
from start to finish
Can be either predictive or adaptive
What is a predictive cycle? (life cycle) - Answer: Sometimes referred to as waterfall
Very traditional
Plan-Driven/Predictive/Traditional
, Set scope, cost, schedule, etc.
Not much customer interaction
Good for building a building
What is an adaptive cycle? (life cycle) - Answer: Changes are always coming in, people are
changing scope, cost, time, product, etc.
Adapt to need for stakeholder
Changes are welcome, sometimes build product in increments
*Iterative, Incremental, Adaptive
Good for building software
Falls into agile
Project Governance - Answer: Framework, functions, and processes that guide project
management activities in order to create a unique product, service, or result to meet a company
goal
-All companies have a different framework
-Should be tailored to the business
Stakeholders - Answer: Individuals, group or organization that may affect, be affected or
perceive to be affected by the project
In exam, stakeholder means ANYONE affected by the project
Questions with Verified
Answers Graded A+
Three ways to run projects - Answer: 1. Traditional
2. Agile
3. Hybrid
Project - Answer: A temporary endeavor that produces a unique product, service or result
*Temporary in nature and has a definite beginning and ending
Unique, Temporary, Progressively elaborated
Progressively Elaborated - Answer: As time is progressing, things become more elaborative
One of the elements of a project
You may not know much as you start a project, but as you work, you start to know more as the
project progresses. You get more information from stakeholders, estimates become more
precise, etc.
Project Management - Answer: The application of knowledge, skills, tools and techniques to
satisfy project requirements
,Ex:
-Preparing a business case to justify the investment
-Estimating resources and times
-Developing and implementing a management plan for the project
-Leading and motivating the project delivery team
-Managing the risks, issues, and changes on the project
-Monitoring progress against plan
-Closing the project in a controlled fashion when appropriate
Operations Management - Answer: Deals with the ongoing production of goods and/or services
Considers the acquisition, development, and utilization of resources that firms need to deliver
the goods and services
*Different from a project in that it is ongoing, not temporary
Ex: something like sales; this is not a project, it is ongoing
Portfolio Management - Answer: A portfolio is a collection of projects, programs, subsidiary
portfolios, and operations managed as a group to achieve strategic objectives.
Used to accomplish the long-term goal of an organization
Phase - Answer: A collection of logically related project activities that culminates in the
completion of one or more deliverables.
Number of phases depends on the industry type and size and the complexity of the project
,Deliverable - Answer: Any unique and verifiable product, service or result
May be tangible or intangible
Must be accepted by the customer or sponsor for the phase
Who accepts a deliverable? - Answer: A customer or a sponsor for the phase
When does a phase finish/complete? - Answer: When a deliverable is done, formally accepted
by a customer or sponsor for the phase
Program Management - Answer: -A group of related projects managed in a coordinate way to
obtain benefits and control not available from managing them individually.
-Focuses on the project interdependencies and helps to determine the optimal approach for
managing them
Project Life Cycle - Answer: A representation of the phases that a project typically goes through
from start to finish
Can be either predictive or adaptive
What is a predictive cycle? (life cycle) - Answer: Sometimes referred to as waterfall
Very traditional
Plan-Driven/Predictive/Traditional
, Set scope, cost, schedule, etc.
Not much customer interaction
Good for building a building
What is an adaptive cycle? (life cycle) - Answer: Changes are always coming in, people are
changing scope, cost, time, product, etc.
Adapt to need for stakeholder
Changes are welcome, sometimes build product in increments
*Iterative, Incremental, Adaptive
Good for building software
Falls into agile
Project Governance - Answer: Framework, functions, and processes that guide project
management activities in order to create a unique product, service, or result to meet a company
goal
-All companies have a different framework
-Should be tailored to the business
Stakeholders - Answer: Individuals, group or organization that may affect, be affected or
perceive to be affected by the project
In exam, stakeholder means ANYONE affected by the project
