INTRODUCTION

Question 1

What is A Guide to the Project Management Body of Knowledge Fifth Edition?

Answer 1

The guide provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. The PMBOK Guide contains the globally recognized standard and guide for the project management profession.

Question 2

What is a standard?

Answer 2

Is a formal document that describes established norms, methods, processes, and practices.

Question 3

What is Annex 1 in the PMBOK Guide?

Answer 3

Annex 1 is the standard for project management and presents the processes, inputs, and outputs considered to be good practice on most projects most of the time. Annex A1 is a foundational reference for PMI’s project management professional development programs. Annex A1 continues to evolve along with the profession and is therefore not all-inclusive; this standard is a guide rather than a specific methodology. One can use different methodologies and tools (e.g., agile, waterfall, PRINCE2) to implement the project management framework.

Question 4

The acceptance of project management?

Answer 4

As a profession indicates that the application of knowledge, processes, skills, tools and techniques can have a significant impact on project success.

Question 5

What is generally recognized mean?

Answer 5

Means the knowledge and practices described as applicable to most projects most of the time, and there is consensus about their value and usefulness.

Question 6

What is good practice mean?

Answer 6

Means there is general agreement that the application of the knowledge, skills, tools, and techniques can enhance the chances of success over many projects. “Good practice” does not mean that the knowledge described should always be applied uniformly to all projects.

Question 7

Who is responsible for determining what is appropriate for any given project?

Answer 7

The organization and/or project management team is.

Question 8

What is the PMI Lexicon of Project Management Terms?

Answer 8

Provides the foundational professional vocabulary that can be consistently used by project, program, and portfolio managers and other stakeholders.

Question 9

What is the Project Management Code of Ethics and Professional Conduct?

Answer 9

Guides practitioners of the profession and describes the expectations that practitioners should hold for themselves and others. The Project Management Institute Code of Ethics and Professional Conduct is (specific) about the basic obligation of responsibility, respect, fairness, and honesty. It requires that practitioners demonstrate a commitment of ethical and professional conduct. It carries the obligation to comply with laws, regulations, and organizational and professional policies. Practitioners come from diverse backgrounds and cultures and the Project Management Institute Code of Ethics and Professional Conduct applies globally.

Question 10

When interacting with any stakeholder what should practitioner(s) do?

Answer 10

Should be committed to honest, responsible, fair practices and respectful dealings.

Question 11

What is a project?

Answer 11

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

Question 12

The temporary nature of a project indicates what?

Answer 12

That a project has a definite beginning and end.

Question 13

The end of a project is reached when?

Answer 13

When the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists. A project may also be terminated if the client (customer, sponsor, or champion) wishes to terminate the project.

Question 14

The word (temporary) does not what in project management?

Answer 14

Does not necessarily mean the (duration) of the project is short. It refers to the project’s (engagement and longevity). Temporary does not typically apply to the (product, service, or result) created by the project; most projects are undertaken to create a (lasting outcome). For example, a project to build a national monument will (create) a result expected to last for centuries. Projects can also have (social, economic, and environmental) impacts that far outlive the projects themselves.

Question 15

Every project creates what?

Answer 15

A unique product, service, or result.

Question 16

The (outcome) of the project may be what?

Answer 16

Tangible or intangible.

Question 17

What may be present in some project deliverables and activities?

Answer 17

Although (repetitive elements) may be present in some project deliverables and activities, this (repetition) DOES NOT change the fundamental, unique characteristics of project work. For example, office buildings can be constructed with the same or similar materials and by the same or different teams. However, each building project remains unique with a different location, different design, different circumstances and situations, different stakeholders, and so on.

Question 18

An ongoing work effort is?

Answer 18

Generally, a repetitive process that follows an organization’s existing procedures. In contrast, because of the (unique) nature of projects, there may be (uncertainties) or (differences) in the (products, services, or results) that the project (creates).

Question 19

What may necessitate more dedicated (planning) than other routine work?

Answer 19

(Project activities) can be new to members of a project team, which may necessitate more dedicated (planning) than other routine work. In addition, projects are undertaken at all organizational levels. A (project) can involve a (single individual) or (multiple individuals), a (single organizational unit) or (multiple organizational units) from (multiple organizations.

Question 20

A project can create?

Answer 20

-A product that can be either a component of another item, an (enhancement) of an item, or an end item in itself
-A (service) or (capability to perform a service) e.g., a business function that supports production or distribution
-An (improvement) in the existing (product or service) lines (e.g., A Six Sigma project undertaken to reduce defects) or
-A (result) such as an (outcome) or (document) (e.g., a research project that develops knowledge that can be used to determine whether a trend exists or a new process
will benefit the society).

Question 21

Examples of (projects) include, but are not limited to:

Answer 21

-Developing a (new product, service, or result)
-Effecting change in the structure, processes, staffing, or style of an organization
-Developing or acquiring a new or modified information system (hardware or software)
-Conducting a building, industrial plant, or infrastructure or
-Implementing, improving, or enhancing existing business processes and procedures

Question 22

The relationship among portfolios, programs, and projects is such that a (PORTFOLIO)

Answer 22

Refers to a collection of (projects), (programs), (subportfolios), and (operations) managed as a (group) to achieve (stategic objectives).

Question 23

The relationship among portfolios, programs, and projects is such that (PROGRAMS)

Answer 23

Programs are (grouped) within a (portfolio) and are comprised of (subprograms), (projects), or (other work) that are managed in a coordinated fashion in support of the (portfolio). (Individual projects) that are either (within) or (outside) of a (program) are still considered part of a (portfolio). Although the (projects) or (programs) within the (portfolio) may NOT necessarily be (interdependent or directly related), they are LINKED to the organizations (strategic plan) by means of the organizations (PORTFOLIO).

Question 24

Organizational (strategies) and (priorities) are LINKED and have (relationships) between?

Answer 24

Portfolios, and programs, and between programs and individual projects.

Question 25

Organizational planning impacts the projects by means of project prioritization based on?

Answer 25

Risk, funding, and other considerations relevant to the organizations (strategic plan).

Question 26

Organizational planning can?

Answer 26

-Direct the management of resources
-and support for the component projects on the basis of risk categories, specific lines of business, or general types of projects, such as infrastructure and process improvement.

Question 27

What is PROJECT MANAGEMENT?

Answer 27

Project management is the application of (knowledge), (skills), (tools), and (techniques) to PROJECT ACTIVITIES to meet the PROJECT REQUIREMENTS.

Question 28

How is PROJECT MANAGEMENT accomplished?

Answer 28

Through the appropriate application and integration of the (47) logically grouped management processes, which are categorized into FIVE PROCESS GROUPS.

Question 29

What are the FIVE PROCESS GROUPS?

Answer 29

-INITIATING
-PLANNING
-EXECUTING
-MONITORING and CONTROLLING, and
-CLOSING

Question 30

Managing a project typically includes, but is not limited to:

Answer 30

-Identifying requirements
-Addressing the various needs, concerns, and expectations of the stakeholders in planning and executing the project
-Setting up, maintaining, and carrying out communications among stakeholders that are active, effective, and collaborative in nature;
-Managing stakeholders towards meeting project requirements and creating project deliverables
-Balancing the competing project (CONSTRAINTS), which include but are not limited to: SCOPE, QUALITY, SCHEDULE, BUDGET, RESOURCES, and RISKS

Question 31

The specific project characteristics and circumstances can?

Answer 31

Influence the CONSTRAINTS on which the project management team needs to focus.

Question 32

The relationship among these factors is?

Answer 32

Such that if any other (factor) changes, at least oneother (factor) is likely to be (affected). For example, if the schedule is (shortened), often the budget needs to be (increased) to add additional (resources) to complete the same amount of work in less time. If a budget (increase) is not possible, the (scope) or targeted (quality) may be (reduced) to deliver the project’s end result in less time within the same budget amount.

Question 33

Project stakeholders may have?

Answer 33

Differing ideas as to which (factors) are most important, creating an even greater challenge. (Changing) the (project requirements) or (objectives) may create additional (risks).

Question 34

The PROJECT TEAM?

Answer 34

Needs to be able to (assess the situation), (balance the demands), and (maintain proactive communication with stakeholders) in order to deliver a successful project

Question 35

Due to the potential for CHANGE?

Answer 35

The development of the (PROJECT MANAGEMENT PLAN) is an (ITERATIVE ACTIVITY) and is (PROGRESSIVELY ELABORATED) throughout the PROJECT’S LIFE CYCLE.

Question 36

PROGESSIVE ELABORATION involves?

Answer 36

Continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available.

Question 37

Progressive elaboration ALLOWS?

Answer 37

A PROJECT MANAGMENT TEAM to (define work) and (manage) it to a greater level of detail as the project evolves.