1.0 Project Management Fundamental Terms

Question 1

The PMI publication that defines widely accepted project management practices. The CAPM and the PMP exam are based on this book

Answer 1

PMBOK (guide to the project management body of knowledge)

Question 2

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

Answer 2

Application areas

Question 3

A quantifiable return on 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 3

Business value

Question 4

A person who has slightly less project management experience than a PMP. Passed the CAPM exam.

Answer 4

Certified Associate in Project Management (CAPM)

Question 5

Defines 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

Answer 5

Cultural and social environment

Question 6

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

Answer 6

Deliverable

Question 7

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 7

general management skills

Question 8

The consideration of thelocal and international laws, languages, communication challenges, time zone differences, and 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

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

Answer 10

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. There are 5 process groups and 49 project management processes.
Initiating, Planning, Executing, Monitoring, Controlling, and Closing

IPEMCC

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

Answer 14

Progressive elaboration

Question 15

A temporary endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable

Answer 15

Project

Question 16

A documented created and maintained by the project sponsor and the project manager. The project benefits management plan defines what benefits the project wll create, when the benefits will be realized, and how the benefits will be measured.

Answer 16

Project benefits management plan

Question 17

Created and maintained by the project sponsor and shows the financial validity of why a project is chartered and launched within the organization. This is created prior to the launch of a project. May be used a go/no-go decision point.

Answer 17

Project business case

Question 18

The 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.

Answer 18

Project environment

Question 19

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

Answer 19

Project Management Institute (PMI)

Question 20

The phases that make up the project. Project life cycles are unique to the type of universal to all projects.

Answer 20

Project life cycle

Question 21

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

Answer 21

Project Management Office (PMO)

Question 22

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

Answer 22

Project Management Professional (PMP)

Question 23

the management and selection of projects that support an organizaton’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. this is a senior management process.

Answer 23

Project portfolio management

Question 24

A smaller project managed within a larger, parent project. this is contracted work whose deliverable allows the larger project to progress.

Answer 24

Subprojects

Question 25

Theory posits the time, cost, and scope are 3 constraints that every project has

Answer 25

Triple Constraints of PM

Iron Triangle

Question 26

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

Answer 26

Work performance data

Question 27

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

Answer 27

Work performance information

Question 28

The formatted communication of work performance information. This communicates what is happening in the project through status reports, memos, dashboards, or other modalities.

Answer 28

Work performance reports