PMBOK 5 - Ch1.6 - Business Value

Question 1

Business Value

Answer 1

Entire value of the business, total sum of intangible/tangible elements

Question 2

How does successful business value realization begin?

Answer 2

Comprehensive strategic planning and management

Question 3

How does portfolio mgmt realize business value

Answer 3

Aligns projects, programs, ops to org strat.

Optimize proj/prog objectives, dependencies, costs, timelines, benefits, resources, risks.

Question 4

How does program mgmt realize business value

Answer 4

Aligns multiple projects for optimized/integrated costs, schedule, effort, benefits…looks at project interdependencies and helps to determine optimal approach for realizing the desired benefits

Question 5

How does project mgmt realize business value

Answer 5

Apply knowledge, process, skills, tools, techniques to enhance likelihood of success over wide range of projects to achieve org strat/objectives

Question 6

How can organizations strengthen organizational enablers (structural, cultural, technological, hr)

Answer 6

continuously conducting portfolio strategic alignment and optimization, impact analyses, developing robust org enablers