Chapter 1- Preparing for the Exam

Question 1

Application Areas

Answer 1

The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, healthcare, manufacturing, IT.

Question 2

Certified associate in project management CAPM

Answer 2

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

Question 3

Cultural and social environment

Answer 3

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.

Question 4

Deliverable

Answer 4

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

Question 5

General management skills

Answer 5

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

Question 6

International and political environement

Answer 6

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.

Question 7

Interpersonal skills

Answer 7

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

Question 8

Iron Triangle of project management

Answer 8

A triangle with 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. The Iron Triangle of project management is also known as the Triple Constraints of PM, as all projects are constrained by time, cost and scope. PMI refers to extended version which also includes customer satisfaction, quality and risk

Question 9

Physical environment

Answer 9

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

Question 10

Program

Answer 10

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

Question 11

Project

Answer 11

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

Question 12

Progressive elaboration

Answer 12

Involves continuously improving and detailing plan as more detailed and specific information and more accurate estimates become available. Progressive elaboration allows a project management team to define work and manage it to a greater level of the detail as the project evolves.

Question 13

Project environement

Answer 13

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 14

PMI

Project management institute

Answer 14

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

Question 15

PMP

Project Management professional

Answer 15

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

Question 16

PMO

Project Management Office

Answer 16

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

Question 17

Project Portfolio Management (PPM)

Answer 17

The management and selection of projects that support an organisation’s VISION and MISSION.

It’s the balance of project PRIORITY, RISK, REWARD, and ROI.

This is a senior management process.

Question 18

Subprojects

Answer 18

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

Question 19

A guide to Project Management Book of Knowledge

Answer 19

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

Question 20

Triple Constraints of PM

Answer 20

Also known as Iron triangle. This theory posits that time, cost, and scope are three constraints that every product has.

PMBOK refers to 
1 - constraints, 
2 - time, 
3 - budget, 
4 - scope, 
5 - quality, 
6 - resources and 
7 - risks.

Question 21

Project Management

Answer 21

is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project management is accomplished through the appropriate application and integration of the 47 logically grouped project management processes, which are categorised into five process groups:

1 - INITIATING, 
2 - PLANNING, 
3 - EXECUTING, 
4 - MONITORING & CONTROLLING, 
6 - CLOSING