1 - PM Fundamental Terms

Question 1

The PMI publication that defines widely accepted project management practices.

Answer 1

PMBOK Guide - Project Management Body of Knowledge Guide

Question 2

The areas of expertise, industry, or function where a project is centered. Ex: architecture, IT, healthcare, and manufacturing.

Answer 2

application areas

Question 3

A quantifiable return on investment. The return could be tangible (equipment, money, market share) or intangible (brand recognition, trademarks, reputation).

Answer 3

Business value

Question 4

A person with slightly less project management experience than a PMP, but who has passed the CAPM exam.

Answer 4

Certified Associate Project Manager (CAPM)

Question 5

Defines how a project affects people and how those people may affect the project. Includes the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.

Answer 5

Cultural and social environment

Question 6

A product, service, or result created by a project.

Answer 6

Deliverable

Question 7

Includes the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.

Answer 7

General management skills

Question 8

The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.

Answer 8

International and political environment

Question 9

The ability to interact, lead, motivate, and manage people

Answer 9

Interpersonal skills

Question 10

Time, cost, and scope. If any one is out of balance with the other, the project will suffer. Aka the Triple Constraints of Project Management.

Answer 10

The Iron Triangle of Project Management

Question 11

The physical structure and surroundings that affect a project’s work.

Answer 11

Physical environment

Question 12

A collection of related processes in project management. Including Initiating, Planning, Executing, Monitoring & Controlling, and Closing.

Answer 12

Process groups

Question 13

A collection of related projects working in unison toward a common deliverable.

Answer 13

Program

Question 14

The process of gathering project details. The process uses deductive reasoning, logic, and a series of information gathering techniques to identify details about a project, product, or solution.

Answer 14

Progressive elaboration

Question 15

A temporary endeavor to create a unique product, service, or result.

Answer 15

Project

Question 16

A document created and maintained by the project sponsor and the PM. Defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.

Answer 16

Project benefits management plan

Question 17

Shows the financial validity of why a project is chartered and launched within an organization. Created and maintained by the project sponsor. Created before the launch and may be used as a no/no go decision point.

Answer 17

Project business case

Question 18

The location and culture of the environment where the project work will reside. Includes the social, economic, and environmental variables the project must work with or around.

Answer 18

Project environment

Question 19

An organization of project management professionals from around the world, supporting and promoting careers, values, and concerns of project managers.

Answer 19

PMI (Project Management Institute)

Question 20

The phases that make up a project. Unique to the type of work being performed and not universal to all projects.

Answer 20

Project life cycle

Question 21

A central office that oversees all projects within an organization or within a functional department. Supports the PM through software, training, templates, policies, communication, dispute resolution, and other services.

Answer 21

Project management office (PMO)

Question 22

A person who has proven project management experience and has qualified for and passed the PMP exam.

Answer 22

Project Management Professional (PMP)

Question 23

The management and selection of projects that support an organization’s vision and mission. Balances project priority, risk, reward, and ROI.

Answer 23

Project portfolio management

Question 24

A smaller project managed within a larger parent project. Often contracted work whose deliverables allow the larger progress to progress.

Answer 24

Subprojects

Question 25

Raw data, observations, and measurements about project components. It is gathered and stored in the project management information system.

Answer 25

Work performance data

Question 26

Processed and analyzed data that will help that will help the project manager make project decisions.

Answer 26

Work performance information

Question 27

The formatted communication of work performance information. Communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.

Answer 27

Work performance reports