Project Management Fundamentals, Exams of Management Fundamentals

Download Project Management Fundamentals and more Exams Management Fundamentals in PDF only on Docsity! PMP Certification Exam Study Guide 2024-2025. Questions & Correct Answers. Graded A+ A Guide to the Project Management Body of Knowledge (PMBOK) - ANSA PMI publication that defines widely accepted project management practices. The CAPM and PMP exam are based on this book. A program is which one of the following? A. A very large, complex project. B. A collection of small projects with a common goal. C. A collection of projects with a common objective. D. A collection of subprojects with a common customer. - ANSC. best describes a program. A program is a collection of projects working together to gain benefits by managing the projects as a group rather than on an individual basis. A, B, and D are not attributes of programs, as projects within a program neither are necessarily small nor are they subprojects. A project creates a unique product, service, or result. Which one of the following is a result? A. A new piece of software B. A new airplane C. A feasibility study D. A call center - ANSC. The PMBOK classifies the concept of creating feasibility as a result. A, B, and D describe products and services. A project has been cancelled. Which process must happen next? A. Scope control B. Procurement management C. Contract closure D. No additional process is needed because the project has been cancelled. - ANSC. When a project is cancelled, the closing processes must still happen. In this example, the only closing process mentioned was contract closure. A, B, and D are all invalid because these processes do not happen if a project is closed or cancelled. A project manager needs five areas of expertise to be successful. Which one is not one of the five areas of expertise? A. Application area knowledge B. An understanding of the project environment C. PMP or CAPM certification D. Interpersonal skills - ANSC. Believe it or not, you don't have to be a PMP or a CAPM to be a successful project manager. A, B, and D are valid characteristics of a project manager. A series of activities to create a unique product or service by a specific date is best described as which one of the following? A. A program B. An operation C. A project D. A subproject - ANSC. A project is a temporary endeavor to create a unique product, service, or result. Deadlines and cost constraints are tied to the project. A is incorrect because programs are a collection of projects working toward a common cause. B is incorrect because operations are ongoing activities of an organization. D, a subproject, describes a project that is part of and supports a larger project. All of the following are cultural attributes of an organization, except for which one? A. Policies and procedures B. Work ethics C. View of authority but should the project fail, its consequences is the highest because of the time, monies, and effort invested in the project. A, B, and D are incorrect in regard to risk assessment in a project. Balanced matrix structure - ANSAn organization where organizational resource are pooled into one project team, but the functional managers and the project managers share the project power. Certified Associate in Project Management (CAPM) - ANSA person who has slightly less project management experience than a PMP, but who has qualified for and then passed the CAPM examination. Change reqest - ANSA documented request to add to or remove from the project scope. A change request may be initiated to change an organizational process asset, such as a template or a form. Closing process group - ANSThe project management process group that contains the activities to close out a project and project contracts. Composite structure - ANSAn organization that creates a blend of the functional, matrix, and projectized structures. Constraint - ANSA condition, rule, or procedure that restricts a project manager's options. A project deadline is an example of a constraint. Corrective action - ANSA corrective action brings project work back into alignment with the project plan. A corrective action may also address a process that is producing errors. Cost baseline - ANSThe aggregation of the project deliverables and their associated costs. The difference between the cost estimates and the actual cost of the project identifies the cost variance. Cultural and social environment - ANSDefines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project. Customer/user - ANSThe person(s) who will use the project's deliverables. Defect repair - ANSThe activity to repair a defect within the project. Deliverable - ANSA product, service, or result created by a project. Projects can have multiple deliverables. Deliverable - ANSA verifiable, measurable product or service created by a phase and/or a project. Deming's PDCA cycle - ANSStandard project management is based on Deming's plan-do-check-act cycle, which describes the logical progression of project management duties. Enterprise environmental factors - ANSAny external or internal organizational factors that can affect project success. Enterprise environmental factors include the culture, organizational structure, resources, commercial databases the project will use, market conditions, and your project management software. Executing process group - ANSThe project management process group that provides the activities to carry out the project management plan to complete the project work. Fast tracking - ANSA schedule compression method that changes the relationship of activities. With fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. Fast tracking can be accomplished by changing the relation of activities from finish-to-start (FS) to start-to-start (SS), or by adding lead time to downstream activities. Fast tracking adds risk to the project. Functional management - ANSConsists of the managers of the administration or functional units of an organization. They have their own staff, are part of ongoing operations, and may lend resources to your project. Often it's the functional management that employs the people responsible for completing the project work. Functional structure - ANSAn organization that is divided into functions, and each employee has one clear functional manager. Each department acts independently of the other departments. A project manager in this structure has little to no power and may be called a project coordinator. General management skills - ANSThese include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology. In order for a project to be successful, there must be four conditions. Which one of the following is not a condition required for project success? A. The project team must select the appropriate processes to meet the project objectives. B. The project team is incorrect because enterprise environmental factors are not constraints. C, organizational process assets, are not constraints but resources for the project management team. D is incorrect, as assumptions are things believed to be true but not proven to be true. Marci Koening, the project manager for the ERP Project, is about to complete the project phase review. The completion of a project phase is also known as which of the following? A. Lessons learned B. Kill point C. Earned value management D. Conditional advancement - ANSB. The completion of a project phase may also be known as a kill point. Lessons learned is a collection of information and knowledge gained through an experience, typically a phase, within the project, so A is wrong. Earned value management can happen at different times throughout the project, not just at the end of a project phase, so C is wrong. D is a term that describes the conditions that must be present for the work to continue on a project. It does not have to happen only at the end of a project phase. Monitoring and controlling process group - ANSThe project management process group oversees, measures, and tracks project performance. Nancy is a project manager for the NHG Corporation. She has identified several positive stakeholders for her construction project and a few negative stakeholders. Nancy and the project team have been meeting regularly with the positive stakeholders, but have not met with the negative stakeholders. What can happen if Nancy ignores negative stakeholders? A. Her project will likely succeed without any objections B. Her project may suffer poor political capital from the negative stakeholders C. Her project will risk failure to bring the project to a successful end The negative stakeholders will not have an opportunity to communicate with the project manager - ANSC. Nancy cannot simply ignore the negative stakeholders. Their influence on the project may cause the project to fail. Nancy must work with the negative stakeholders to squelch their protests, or consider their demands to ensure compliance or agreement with their issues. A, B, and D are all inaccurate outcomes of ignoring the stakeholders. Negative stakeholder - ANSA stakeholder who does not want a project to succeed. He or she may try to negatively influence the project and help it fail. None of the following are key project stakeholders, except for which one? A. Union B. Sellers C. Technical interface D. Inspector - ANSB. The seller is the only key stakeholder the PMBOK specifically addresses out of those listed within this question. A, the union, and C, the technical interface, could be examples of influencers, but not in every project. D, an inspector, is not a key stakeholder in every project, although an inspector could be considered an influencer if one were involved with your project. Of the following, which is not part of the Iron Triangle? A. Quality B. Time C. Scope D. Cost - ANSA. Quality, while important, is not part of the Iron Triangle of Project Management. B, C, and D make up the Iron Triangle. Of the following, which is the logical order of the project management processes? A. Initiating, planning, monitoring and controlling, executing, closing B. Initiating, planning, executing, monitoring and controlling, closing C. Planning, initiating, monitoring and controlling, executing, closing D. Planning, initiating, executing, closing, monitoring and controlling - ANSB. Projects logically move through initiating, planning, executing, monitoring and controlling, and closing. Choices A, C, and D are all incorrect because they are not in the logical order of the project management process groups. Of the following, which one is the best examples of progressive elaboration? A. It is the process of decomposing the work into small, manageable, tasks. B. It is the process of taking a project from concept to completion. C. It is the process of taking a project concept to a project budget. D. It is the process of identifying the business needs of a potential project. - ANSB. According to the PMBOK, progressive elaboration means developing in steps and then continuing by increments. Choice A describes the process of breaking down the project scope into the task list. C is not a valid choice for this question. D is part of determining if a project should be chartered and is not the best answer for this question. Of the occur. Project charter - ANSA document that comes from outside of the project boundaries and authorizes the existence of a project. Project deliverable - ANSThe output of the project. Project environment - ANSThe location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around. Project life cycle - ANSThe collection of phases from the start of a project to its completion. Project Management Institute (PMI) - ANSAn organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of project managers. Project management office (PMO) - ANSA business unit that centralizes the operations and procedures of all projects within the organization. The PMO supports the project manager through software, templates, and administrative support. A PMO can exist in any organizational structure, but it is most common in matrix and projectized structures. Project management office (PMO) - ANSA central office that oversees all projects within an organization or within a functional department. A PMO supports the project management through software, training, templates, policies, communication, dispute resolution, and other services. Project Management Professional (PMP) - ANSA person who has proven project management experience and has qualified for and then passed the PMP certification examination. Project management system - ANSThe defined set of rules, policies, and procedures that a project manager follows and utilizes to complete the project. Project Manager - ANSAccountable for managing the project. He or she guides the team through the project phases to completion. Project portfolio management - ANSThe management and selection of projects, that support an organization's vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process. Project scope statement - ANSThe project scope defines the project, the project deliverables, product requirements, project boundaries, acceptance procedures, and scope control. Project stakeholder - ANSAnyhow who has vested interest in a project's operation and/or its outcome. Project team members - ANSThe project team is the collection of individuals who will hopefully work together to ensure the success of the project. Project team members are most likely to work full-time on a project in which of the following organizational structures? A. Functional B. Weak matrix C. Strong matrix D. Projectized - ANSD. Projectized structures often have project team members assigned to the project on a full-time basis. A, B, and C are incorrect because the structures have part-time project teams. Projectized structure - ANSAn organization that assigns a project team to one project for the duration of the project life cycle. The project manager has high-to-almost-complete project power. Projects are temporary endeavors to create a unique product, service, or result. Which one of the following does not relate to the concept of "temporary" in project management? A. The project team B. The market window status on which the project is capitalizing C. The project deliverables D. The project manager - ANSC. Most projects create a deliverable that will outlive the project itself. A, B, and D are incorrect, as these attributes are temporary in nature. Resource calendar - ANSThe calendar that documents which project resources are available for the project work. Risk - ANSAn uncertain event or condition that can have a negative or positive impact on the project. Risk register - ANSA central repository of the project risks and their attributes. Rolling wave planning - ANSIterations of planning throughout the project lifecycle. Schedule baseline - ANSThe expected timeline of the project. The difference between the planned schedule and the experience schedule reveals schedule variances within the project. Scope baseline - ANSThe sum of the project deliverables. The WBS is often called the project scope baseline. The differences between the WBS and what is created is a scope variance. Strong matrix structure - ANSAn organization where organizational resources are pooled into one project team, but the functional managers have less have more project power than the project manager. What is a project process? A. The creation of a product B. The progressive elaboration resulting in a product C. A series of actions that bring about a product, result, or service. D. A series of actions that allow the project to move from concept to deliverable. - ANSC. A process, the focus of this chapter, is a set of interrelated activities that brings about a product, result, or service. A is incorrect because it does not fully describe a process, but describes more of a project. B is incorrect because progressive elaboration is not a description of a process, but rather a description of incremental refinements of a definition of a product, service, or result. D is also incorrect because this statement describes project phases. What is a subproject? A. It is a smaller project that supports a parent project. B. It is a project that is performing below expectations. C. It is a project that has been experiencing project spin-off. D. It is delegation of a project phase. - ANSA best describes a subproject, which is a project, typically smaller than the original, that supports a parent project. B, C, and D do not accurately describe a subproject. What is the difference between a standard and a regulation? A. A standard is optional; regulations are not. B. A standard is not optional; a regulation may be. C. A standard is rarely optional; regulations are never optional. D. A standard is a guideline; a regulation is a request. - ANSA is the best choice, as standards are optional while regulations are not. B, C, and D do not accurately describe the difference between standards and regulations. What is the primary purpose of the planning process group? A. To initiate the project work B. To determine the project cost C. To determine the Iron Triangle of Project Management D. To develop the project management plan - ANSD. The purpose of planning is to develop the project management plan. A is incorrect; this is the purpose of the initiating process group. B and C are incorrect because these may occur during planning, but these are not the primary purpose of the planning process group. When a project manager and a project team choose the processes that they deem applicable to their project, this is called what? A. Tailoring B. Faulty project management C. Functional project management D. Rolling wave planning - ANSA. The project team tailors the project processes to their individual project. B is incorrect, as this is good project management, not faulty project management. C describes an organizational structure, not tailoring. D is incorrect because rolling wave planning defines the iterations of project planning. When considering the selection of projects to be initiated, project portfolio management considers all of the following except for which one? A. Risk/reward categories B. Lines of business C. The project manager's experience D. General types of projects - ANSC. While the experience of the project manager is likely considered during the assignment of projects, it is not considered during project portfolio management. A, the risk and reward of the project is considered. B and D, the line of business and the general types of projects, are also considered as part of project portfolio management. When does a project become officially authorized? A. When the project charter is written B. When the project is funded C. When the project team is assembled D. When the project charter is approved - ANSD. The project is not authorized until the charter is approved. A is incorrect because a charter can be written by the project management team and still not be approved. B is incorrect because a project is chartered, typically and technically, before being funded. C is incorrect because team acquisition happens during the execution process group--well after project initiation, which is where the charter comes from. When does the vast majority of a project's budget get expended? A. During the planning process group activities B. During the execution process group activities C. During the initiation process group activities D. During the procurement process group activities - ANSB. When the project team completes the project work, the project's budget is expended. A, C, and D are all incorrect because the vast majority of the project's budget is not consumed during these process groups. either a positive or negative stakeholder. Which one of the following is an example of operations? A. Creating a new community park B. Designing a new car C. Sending monthly invoices to an organization's 25,000 customers D. Removing an old server and replacing it with a newer one - ANSC is the best example of operations, as the answer implies that this work is done every month. A, B, and D are all unique endeavors that may be done once or just occasionally, but are not part of ongoing operations. Which one of the following is not a characteristic of a project's cultural and social environment? A. Economics B. Time zone differences C. Demographics D. Ethics - ANSB. Time zone differences are not part of the cultural and social environment, but are part of the international and political environment. A, C, and D are part of the cultural and social environment. Which one of the following is not an example of an interpersonal skill? A. Financial management and accounting B. Influencing the organization C. Motivating people D. Problem solving - ANSA. Financial management and accounting is not an interpersonal skill. B, C, and D are examples of interpersonal skills, so these choices are invalid for this question. Which one of the following statements best describes what project management is? A. Project management is the application of knowledge, skills, tools, and techniques to project team members to meet project requirements. B. Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. C. Project management is the collection of the project management process used on every project. D. Project management is the application of the project management processes that are used on every project. - ANSB. Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. A, C, and D are not valid definitions of what a project is. A is incorrect because the tools and techniques are not applied to the project team members. C is incorrect because not every project management process is used on every project. And choice D, while similar to choice C, is incorrect because not every process is applied on every project. Which process aims to eliminate causes of unsatisfactory performance? A. Scope verification B. Scope validation C. Quality control D. Cost control - ANSC. Quality control aims to eliminate causes of unsatisfactory performance this process is part of the monitoring and controlling process group. A, scope verification, aims for scope acceptance decisions. B is not a valid PMI term. D, cost control, is concerned with controlling project costs. Which process group can provide feedback between project phases? A. Planning B. Executing C. Monitoring and controlling D. Closing - ANSC. The monitoring and controlling process group provides feedback between project phases. A, B, and D are all incorrect because these process groups do not provide feedback between project phases. Who has full authority over project funding in a weak matrix? A. The project manager B. The functional manager C. The PMO D. The project sponsor - ANSB. The functional manager has the power over the project funding, not the project manager. In a weak matrix, the functional manager is likely to be the project sponsor. A, C, and D are all incorrect statements, as these do not define the authority of the project manager in a weak matrix structure. Who manages programs? A. Management B. Project sponsors C. Project managers D. Program managers - ANSD. Programs are managed by program managers. A, B, and C are incorrect choices. Why would an organization divide a project into phases? A. To provide better management and control of the project. B. To identify the work that will likely happen within a phase of the project. C. To identify the resources necessary to complete a phase of the project. D. To define the cash-flow requirements within each phase of the project. - ANSA. Organizations often divide projects into phases to make the management and control of the project easier and more productive. B and C are incorrect because these statements identify an attribute of a phase, not the reason to create all phases. D is incorrect because this (consider public projects and functional organizations). C is incorrect because this is not the purpose of involving the stakeholders. You are the project manager of a new project. When is the level of failing to achieve the objectives the highest within your project? A. There is not enough information provided to know for certain. B. At the start of the project C. At the end of the project D. During intermediate phases of the project - ANSB. Projects are most likely to fail at the start of the project. As the project moves closer to the project completion, its odds of finishing successfully increase. A is not an accurate statement. C is incorrect because the project is more likely to finish successfully at the end of the project. D is also incorrect because the intermediate phases show progress toward project completion. The closer the project moves away from its start and toward completion, the higher the odds of success are. You are the project manager of a new project. You have worked with management to identify several initial assumptions and constraints for your project. Where will these items be documented? A. Project management plan B. Project scope statement C. Project charter D. Risk management plan - ANSC. The initial constraints and assumptions are documented in the project charter. A, B, and D are all incorrect choices because the initial constraints and assumptions are documented in the project charter not in the project management plan, the project scope statement or the risk management plan. You are the project manager of the KHGT Project, which will span four countries around the world. You will need to consider all of the following characteristics of the international and political environment except for which one? A. International, national, regional, and local laws B. Customs C. Customers D. Holidays - ANSC. Customers are not part of the international and political environment. A, B, and D are part of this environment. You have an excellent idea for a new project that can increase productivity by 20% in your organization. Management, however, declines to approve the proposed project because too many resources are already devoted to other projects. You have just experienced what? A. Parametric modeling B. Managed by exception C. Project portfolio management D. Management reserve - ANSC. Project portfolio management is the management, selection, and assignment of projects that support an organizations business objects. A, B, and D are not valid answers. You have identified a negative risk within your project and would like to implement a work-around to the risk. A work-around is an example of what? A. Corrective action B. Defect repair C. Preventive action D. Poor project management - ANSA. A work-around is an example of a corrective action. A, corrective action, is an action to bring future project performance in alignment with the project plan. B, defect repair, is the repair of flawed work. C is incorrect, as a preventive action attempts to reduce the probability of a risk from coming into play. D is not a valid answer. You have requested that several of the stakeholders participate in the initiation of the project. Why is this important? A. It improves the probability of shared ownership. B. It allows for scope constraints. C. It prevents scope creep. D. It allows for effective communications. - ANSA. Stakeholders should participate in project initiation because it improves shared ownership of the project, deliverable acceptance, and stakeholder satisfaction. B, C, and D are all false statements about the involvement of stakeholders in the initiation processes. Your organization would like to create a new product based on market research. This new product will be created by a project. This is an example of which one of the following reasons to launch a new project? A. Organizational need B. Customer request C. Market demand D. Legal requirement - ANSC. Projects can be created for a number of reasons, and this example supports the market demand choice. A, an organizational need, is a project to satisfy an internal need. B is incorrect because no specific customer asked for this new product. D is incorrect because there is no legal requirement to create the new product.