1 Project Management Fundamental

Question 1

The areas of expertise, industry, or function where a project is centered. Examples are architecture, IT, health care and manufacturing.

Answer 1

Application Areas

Question 2

A quantifiable return of investment. The return can be tangible, such as equipment, money, or market share. The return can also be intangible, such as brand recognition, trademarks, and reputation.

Answer 2

Business Value

Question 3

A person who has slightly less project
management experience than a PMP,
but who has qualified for and then
passed the CAPM examination.

Answer 3

Certified Associate in Project

Management (CAPM)

Question 4

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

Answer 4

Cultural and social environment

Question 5

A product, service, or result created by a project. Projects can have multiple.

Answer 5

Deliverable

Question 6

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

Answer 6

General management skills

Question 7

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 7

International and political environment

Question 8

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

Answer 8

Interpersonal skills

Question 9

A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side ; if any side is not in balance with the other sides, the project will suffer. also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope.

Answer 9

Iron Triangle of Project Management

Question 10

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

Answer 10

Physical environment

Question 11

A collection of related processes in project management. There are five process groups and 49 project management processes. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Answer 11

Process groups

Question 12

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

Answer 12

Program

Question 13

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

Answer 13

Progressive elaboration

Question 14

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

Answer 14

Project

Question 15

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

Answer 15

Project benefits management plan

Question 16

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

Answer 16

Project business case

Question 17

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 17

Project environment

Question 18

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

Answer 18

Project Management Institute (PMI)

Question 19

The phases that make up the project. Project life cycles are unique to the type of
work being performed and are not universal to all projects.

Answer 19

Project life cycle

Question 20

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

Answer 20

Project management office (PMO)

Question 21

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

Answer 21

Project Management Professional (PMP)

Question 22

The 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.

Answer 22

Project portfolio management

Question 23

A smaller project managed within a larger,
parent project. Subprojects are often
contracted work whose deliverable allows the larger project to progress.

Answer 23

Subprojects

Question 24

Also known as the Iron Triangle. This
theory posits that time, cost, and scope
are three constraints that every project
has.

Answer 24

Triple Constraints of Project

Management

Question 25

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

Answer 25

Work performance data

Question 26

Work performance information is the
processed and analyzed data that will help the project manager make project
decisions.

Answer 26

Work performance information

Question 27

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

Answer 27

Work performance reports