CAPM Certification: Ultimate CAPM Exam Prep 39 Question with Verified Answers,100% CORRECT, Exams of Business Economics

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CAPM Certification: Ultimate CAPM Exam Prep 39 Questions

with Verified Answers

What are the 2 main characteristics of a project? - CORRECT ANSWER 1. Temporary; has a beginning and an end

2. Creates something unique i.e product, servic, or result

• Ex: Constructing a building, creating a website, creating an app Why do we initiate projects? - CORRECT ANSWER Main reason is to provide business value including:
• Market demand
• Request of a customer
• Business need
• Environmental considerations
• Legal requirements
• Social need
• Technological advance What is a Program? - CORRECT ANSWER Group of related projects. What is a Portfolio? - CORRECT ANSWER Management of multiple Programs, Projects, and sometimes Operations for a single company that may not be directly related to each other but all have the same strategic goals. May consist or project or programs only but typically has both. What is Project Management? - CORRECT ANSWER Using tools and techniques to successfully meet all of the project requirements including:
• scope
• budget
• time
• quality
• efficient work
• other

How many processes does PMBok Guide have? - CORRECT ANSWER 49 processes List the 5 Process Groups of Project Management - CORRECT ANSWER 1. Initiating

2. Planning
3. Executing
4. Monitoring & Controlling
5. Closing List the 10 Knowledge Areas of Project Management - CORRECT ANSWER 1. Integration
6. Scope
7. Schedule
8. Cost
9. Quality
10. Resource
11. Communication
12. Risk
13. Procurement
14. Stakeholder Program Management - CORRECT ANSWER Focuses on coordinating and managing related projects to prevent conflict and decrease the risk, achieve economies of scale or provide better coordination between projects. T or F: Program Management is a necessity? - CORRECT ANSWER False - We need Program Management only if it adds value because we do not want to do extra work. T or F: We only need Portfolio Management if it adds value - CORRECT ANSWER True - We do not want to do extra work if it does not provide extra value. Portfolio Management - CORRECT ANSWER Focuses on coordinating and managing the programs, projects, and sometimes operation which are not directly related to one another but have the same strategic goal. Company - CORRECT ANSWER Has programs, projects, operations, and other management work to reach its defined strategic goal.

Organizational Project Management (OPM) - CORRECT ANSWER Provides structural framework for organizations on how to organize, manage, coordinate and execute all of the work within the programs, projects, portfolios, and operations to reach their strategic goals. Operation - CORRECT ANSWER Ongoing work in which you product the same thing over and over again. Project Management Office (PMO) - CORRECT ANSWER Department within an organization which provides, shares, and maintains the standards and procedures to manage the projects. List the 3 types of PMOs - CORRECT ANSWER 1. Supportive - lowest authority

2. Controlling - moderate authority
3. Directive - highest authority Supportive PMOs - CORRECT ANSWER Recommend and provide support for the standards, procedures, and other project documents like templates, lessons learned, etc. This PMO type has the lowest authority of the 3. Controlling PMOs - CORRECT ANSWER Support and have limited control or moderate authority over the projects - they do not manage the projects or make any directive decisions among the projects. They may determine the software to be used for the project, train the project staff about the software, and prioritize and coordinate the projects among the organization. Directive PMOs - CORRECT ANSWER Coordinate and directly manage the projects among the organization. This PMO type has the highest authority and is responsible for the project's success. Organizational Governance - CORRECT ANSWER Aims to meet the organization's high-level strategic goals using a high-level roadmap that includes procedures, standards, and policies. Project Governance - CORRECT ANSWER Provides the project team with policies, processes, decision-making models, and tools to administer the project.

10 Types of Organizational Structure - CORRECT ANSWER Org Structure is a way to classify the organization into different categories including (weakest PM authority --> strongest PM authority):

• Organic/ Simple
• Functional
• Multi-divisional
• Matrix (weak, balanced, strong)
• Virtual
• Hybrid
• PMO

• Project-oriented: mixed Functional Org Structure - CORRECT ANSWER The most common organizational type that has functional managers who are head of a department (i.e. Marketing Manager, Cost Control Manager, Sales Manager) and has the most power over the project with lower availability to resources; the project manager has the least authority here and works PT. Matrix Org Structure - CORRECT ANSWER A mix of functional and project-oriented (projectized) org structure. If the matric is close to functional it is weak; if it is closer to projectized it is strong. In a balanced matrix the PM still works PT. Project-oriented (Projectized) Org Structure - CORRECT ANSWER Project Managers have a high level of authority and work FT because they are responsible for everything about the project and provides coordination between each department within the project which allows them availability to the most resources. Simple (Organic) Org Structure - CORRECT ANSWER Founder of the company does the most work and plays all of the roles as well as the project budget therefore leading to little or zero resource availability. Multi-divisional Org Structure - CORRECT ANSWER Very similar to Functional but less centralized in which each division is independent of each other and has its own resource. They can be divided by things such as geography, similar products,

service, program, portfolio, customer type, etc. (i.e. Microsoft USA, Microsoft India, Microsoft China, etc. - divided by geography) Virtual (Virtual Corporation) Org Structure - CORRECT ANSWER Communication is done virtually using the internet, the core business is done by the company and everything else is outsourced; this is similar to a Balanced Matrix however the PM can work FT. PMO Org Structure - CORRECT ANSWER Similar to project-oriented structure in which work groups are determined by the projects along with other structures. Hybrid Org Structure - CORRECT ANSWER PM's role, authority, and other characteristics are determined according to the project needs. Disadvantages of Functional Structure - CORRECT ANSWER 1. Project Manager's authority is less

2. Sense of belonging is less
3. Difficult to develop in field of Project Management Advantages of Function Structure - CORRECT ANSWER 1. Specialization is easier
4. Career development on the specialized subject is easier
5. Resources are more centralized and easy to manage
6. Administration is easier
7. Team members are not temporary Disadvantages of Matrix Structure - CORRECT ANSWER 1. Complex structure
8. Hard to manage
9. Monitoring and controlling is hard
10. Resource assignment is hard and complex
11. Complexity may cause conflicts
12. Employees may report to more than one executive
13. Extra rules and policies should be identified Advantages of Matrix Structure - CORRECT ANSWER 1. Project Manager has more authority
14. Resources are better managed
15. Better coordination between the Project Manager and the Functional Managers

4. Better coordination and communication between team members
5. Project objective is clearer
6. Team members are not temporary Disadvantages of Project-oriented Structure - CORRECT ANSWER 1. Team members are temporary
7. Specialization is hard
8. Career development on the specialized subject is not easy Advantages of Project-oriented Structure - CORRECT ANSWER 1. Project Manager has the highest authority
9. Sense of belonging is high
10. Better administration and better communication Who is a Project Manager? - CORRECT ANSWER Person who manages the projects to add value to the organization by achieving the Project goals.

• Communicates
• Coordinates
• Involved in the project as early as possible (from the initiation or before initiation)
• Works until end of project
• May work after the project
• May involve in the creation of the Project Charter
• Solves the problems
• Spends most of his time to prevent the problems
• Develops his team
• Assists his team
• Uses leadership skills Develops award and recognition systems
• Manages and controls the resources
• Leads his team to create the budget and schedule
• Determines the relationship between Project Charter - CORRECT ANSWER Formal document that authorizes the project manager and the project team to execute the project tasks. It defines high-level requirements of the project.