Basic Terms

Question 1

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

Answer 1

Project

Question 2

Projects are started to fulfill objectives by producing ________.

Answer 2

Deliverables

Question 3

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.

Answer 3

Objective

Question 4

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.

Answer 4

Deliverable

Question 5

Deliverables can either be _______ or _______.

Answer 5

Tangible or Intangible

Question 6

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

Answer 6

True

Question 7

• 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?

Answer 7

A Project

Question 8

Projects are __________ even if they have a long duration.

Answer 8

Temporary

Question 9

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

Answer 9

Closed.

Question 10

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

Answer 10

Closed.

Question 11

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

Answer 11

Closed.

Question 12

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

Answer 12

Closed.

Question 13

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

Answer 13

Closed.

Question 14

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

Answer 14

Closed.

Question 15

Projects may be ____________ but deliverables last ____________.

Answer 15

Projects may be temporary, but deliverables last forever.

Question 16

What are the three elements of a project?

Answer 16

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

Question 17

What are three phases of a project?

Answer 17

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

Question 18

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

Answer 18

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

Question 19

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

Answer 19

Business Value

Question 20

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

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

Answer 20

Tangible Benefits

*Benefits make up “Business Value”

Question 21

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

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

Answer 21

Intangible Benefits

*Benefits make up “Business Value”

Question 22

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

Answer 22

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.

Question 23

What are the three ways that projects can be managed?

Answer 23

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

Question 24

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?

Answer 24

A program.

Question 25

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

Answer 25

A Mega Project.

Question 26

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

Answer 26

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

Question 27

Portfolio Management focuses on doing the "right" ________ and ________.

Answer 27

Portfolio Management focuses on doing the right "programs" and "projects."

Question 28

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

Answer 28

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

Question 29

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

Answer 29

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

Question 30

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

Answer 30

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

Question 31

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

Answer 31

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

Question 32

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

Answer 32

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

Question 33

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

Answer 33

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

Question 34

______ 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.

Answer 34

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.

Question 35

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.

Answer 35

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.

Question 36

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.

Answer 36

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.

Question 37

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

Answer 37

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.

Question 38

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

Answer 38

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.

Question 39

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.

Answer 39

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.