Chapter 1

Question 1

What is the PMBOK Guide?

Answer 1

A Publication that defines widely accepted management practices

Question 2

What are application area’s in regards to Project Mgmt?

Answer 2

Area’s of Expertise, Industry knowledge, Functional Areas where a project is centered: Examples, IT or Health Care or Manufacturing or Construction

Question 3

Define Business Value

Answer 3

A quantifiable return on Investment:
Example of Tangible ROI’s:
Equipment, Money or Market Share

Example of Intangible ROI’s:
Brand recognition, Trade Marks or Reputation

Question 4

What are Cultural or Social Environmental Factors that can affect your project?

Answer 4

Economic -
Education - Maybe someone can’t read or write
Ethnic -
Religious - Different days off

Question 5

What is the definition of a Deliverable?

Answer 5

A Product or Service or result created by a project

Projects can have multiple deliverables.

Question 6

What are International or Political Factors that can affect your project?

Answer 6

International Laws
Language Barriers
Communication Challenges
Time Zone differences
Other NON Colocated Challenges

Question 7

What is the Iron Triangle in regards to Project Management?

Answer 7

Also know as: Triple constraints of Project Mgmt

Time / Money / Scope : if out of balance compromises Quality

Question 8

Describe Physical Environmental Factors that can affect your project?

Answer 8

Location of Job site from housing
Weather conditions - Is it Snowing or Raining
Temperature - Is it to Hot or Cold

Question 9

What are the 5 Project Management Process Groups

Answer 9

1. Initiation
2. Planning
3. Execution
4. Monitoring and Controling
5. Closing the project

Question 10

What is a Program?

Answer 10

A collection of related Projects working in unison towards a common deliverable.

Question 11

What is Progressive Elaboration?

Answer 11

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

Question 12

What is a project?

Answer 12

A temporary Endeavor to create a unique product, serivce or result.

The end result of a project is also called a deliverable.

Question 13

Whats is the definition of: Project benefits Mgmt Plan?

Answer 13

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

Question 14

Who is responsible for the Project Business Case

Answer 14

The Project Sponsor

Question 15

What does the Project business case provide?

Answer 15

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

Question 16

What is the Definition of the Project environment?

Answer 16

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

Question 17

What are the types of Project Life Cycles?

Answer 17

1. Adaptive
   The type expects Changes to happen
   There are two subtypes of Adaptive life cycles
   1. Iterative
   2. Incremental
2. Predictive
   This type is adverse to Changes

Question 18

What is a Project Mgmt Office or PMO?

Answer 18

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.

There are 3 types of PMO’s:
1. Support - supports the PM
2. Directive - Manages the PM
3.