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PMP Certification Exam (2020) > Basic Terms > Flashcards

Basic Terms Flashcards

1
Q

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

A

Project

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2
Q

Projects are started to fulfill objectives by producing ________.

A

Deliverables

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3
Q

An outcome toward which work is to be directed a strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to be produced or a service to be performed.

A

Objective

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4
Q

An unique and verifiable product, result or capability to perform a service that is required to be produced to complete a process, phase or project.

A

Deliverable

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5
Q

Deliverables can either be _______ or _______.

A

Tangible or Intangible

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6
Q

A project can be undertaken at all levels of an organization. True or False?

A

True

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7
Q
  • Improving a business process within an organization
  • Conducting market research then providing recommendations
  • Executing on key events
  • Building Curriculum

These are all examples of what?

A

A Project

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8
Q

Projects are __________ even if they have a long duration.

A

Temporary

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9
Q

When an objective has been achieved, that means that the project is ___________?

A

Closed.

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10
Q

When an objective can’t be met, that means that the project is __________?

A

Closed.

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11
Q

When there is a decrease or removal of funds for a project, that means that the project is _________?

A

Closed.

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12
Q

When the project no longer exists, that means that the project is _________?

A

Closed.

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13
Q

When there are no longer human or physical resources available, that means that the project is _________?

A

Closed.

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14
Q

When the project is terminated for legal cause or convenience, that means that the project is ____________?

A

Closed.

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15
Q

Projects may be ____________ but deliverables last ____________.

A

Projects may be temporary, but deliverables last forever.

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16
Q

What are the three elements of a project?

A
  1. Projects are temporary.
  2. Projects drive change.
  3. Projects enable business value creation.
17
Q

What are three phases of a project?

A
  1. Current State
  2. Transition State “(e.g. project execution land)”
  3. Future State
18
Q

A successful project is defined as moving to _______ state having completed all ________.

A

A successful project is defined as moving to “future state” having completed all “objectives.”

19
Q

The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both.

A

Business Value

20
Q
  1. Monetary Assets
  2. Stockholder Equity
  3. Utility
  4. Market Share

The following items are all examples of what type of benefits?

A

Tangible Benefits

*Benefits make up “Business Value”

21
Q
  1. Brand Recognition
  2. Public Benefit
  3. Trade Marks
  4. Reputation

The following items are all examples of what type of benefits?

A

Intangible Benefits

*Benefits make up “Business Value”

22
Q

A project can be initiated in four ways. What are the four ways that projects can be initiatied?

A
  1. To meet regulatory requirements
  2. To satisfy stakeholder requests or needs
  3. To implement or change business and tech strategies
  4. To create, improve or fix products, processes or services.
23
Q

What are the three ways that projects can be managed?

A
  1. As a stand alone project
  2. Within a program
  3. Within a portfolio
24
Q

A group of related projects, subsidiary programs and program activities manage in a coordinated manner to obtain benefits not available by managing them individually is called what?

A

A program.

25
Q

A project that costs $1BN or more or affects 1M or more people and run for years is called what?

A

A Mega Project.

26
Q

Program and Project Management focuses on doing programs and projects the __________ way.

A

Program and Project Management focuses on doing programs and projects the “right” way.

27
Q

Portfolio Management focuses on doing the “right” ________ and ________.

A

Portfolio Management focuses on doing the right “programs” and “projects.”

28
Q

Projects have defined objectives. _________ is progressively elaborated throughout the project life cycle.

A

SCOPE PHASE: Projects have defined objectives. “Scope” is progressively elaborated throughout the project life cycle.

29
Q

Project managers expect ________ and implement processes to keep _______ _______ and controlled.

A

CHANGE PHASE: Project managers expect “change” and implement processes to keep “change managed” and controlled.

30
Q

Project managers progressively elaborate high-level information into detailed _______ throughout the project life cycle.

A

PLANNING PHASE: Project managers progressively elaborate high-level information into detailed “plans” throughout the project life cycle.

31
Q

Project managers ____________ the project team to meet the project objectives.

A

MANAGEMENT PHASE: Project managers “manage” the project team to meet the project objectives.

32
Q

Project managers _________ and ________ the work of producing the products, services, or results that the project was undertaken to produce.

A

MONITORING PHASE: Project managers “monitor” and “control” the work of producing the products, services, or results that the project was undertaken to produce.

33
Q

______ is measured by product and project quality, timeliness, budget compliance and degree of customer satisfaction.

A

SUCCESS PHASE: “Success” is measured by product and project quality, timeliness, budget compliance and degree of customer satisfaction.

34
Q

______ have a scope that encompasses the scope of its program components. _______ produce benefits to an organization by ensuring that the outputs and outcomes of program components are delivered in a coordinated and complementary manner.

A

SCOPE PHASE: “Programs” have a scope that encompasses the scope of its program components. “Programs” produce benefits to an organization by ensuring that the outputs and outcomes of program components are delivered in a coordinated and complementary manner.

35
Q

Programs are managed in a manner that accepts and adapts to ______ as necessary to optimize the delivery of benefits as the program’s components deliver outcomes and / or outputs.

A

CHANGE PHASE: Programs are managed in a manner that accepts and adapts to “change” as necessary to optimize the delivery of benefits as the program’s components deliver outcomes and / or outputs.

36
Q

Programs are managed using high-level _______ that track the interdependencies and progress of program components. Program plans are also used to guide ______ at the component level.

A

PLANNING PHASE: Programs are managed using high-level “plans” that track the interdependencies and progress of program components. Program plans are also used to guide “planning” at the component level.

37
Q

Programs are ______ by program managers who ensure that program benefits are delivered as expected, by coordinating the activities of a program’s components.

A

MANAGEMENT PHASE: Programs are “managed” by program managers who ensure that program benefits are delivered as expected, by coordinating the activities of a program’s components.

38
Q

Program managers _______ the progress of program components to ensure the overall goals, schedules, budget, and benefits of the program will be met.

A

MONITORING PHASE: Program managers monitor the progress of program components to ensure the overall goals, schedules, budget, and benefits of the program will be met.

39
Q

A program’s ______ is measured by the program’s ability to deliver its intended benefits to an organization, and by the program’s efficiency and effectiveness in delivering those benefits.

A

SUCCESS PHASE: A program’s “success” is measured by the program’s ability to deliver its intended benefits to an organization, and success is measured by the program’s efficiency and effectiveness in delivering those benefits.

PMP Certification Exam (2020) (1 decks)

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