02. Project, Programme And Portfolios

Question 1

What is a project

Answer 1

A unique transit endeavor undertaken to bring about change and to achieve planned objectives

Question 2

State the difference between a project and BAU

Answer 2

Projects are unique and time-bound. They risk aware and have deliverables

Business as usual is repetitive and ongoing. Risk averse and have outcomes and benefits

Question 3

Define the term project management

Answer 3

The application of processes, methods, knowledge of skills and experience to achieve specific objectives for change

Question 4

State the key purpose of project management

Answer 4

To ensure the delivery of a project, managing risk and quality and change control

Question 5

Define the term program management

Answer 5

A collection of projects and or programs used to structure and management investments at an organization or functional level to optimize the strategic benefits and operational efficiency

Question 6

Define the term portfolio management

Answer 6

The selection prioritization and control of an organization’s projects and programs in line with its strategic objectives and capacity to deliver

Question 7

What is program and portfolio management and their relationship to project management