PMBOK Guide 7th Edition

Question 1

Outcome

Answer 1

An end result or consequence of a process or project.

Outcomes can include outputs and artifacts, but have broader intent by focusing on the benefit and value that the project was undertaken to deliver.

Question 2

Portfolio

Answer 2

Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.

(Intro)

Question 3

Product

Answer 3

An artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.

(Intro)

Question 4

Program

Answer 4

Related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.

(Intro)

Question 5

Project

Answer 5

A temporary endeavor undertaken to create a unique product, service, or results. The temporary nature of projects indicates a beginning and an end to the project work or a phase of the project work.

Projects can also stand alone or be part of a program or portfolio.

(Intro)

Question 6

Project Manager

Answer 6

The person assigned by the performing organization to lead the project team that is responsible for achieving the project objectives.

Project managers perform a variety of functions, such as facilitating the project team work to achieve the outcomes and managing the processes to deliver intended outcomes.

(Intro)

Question 7

Project Team

Answer 7

A set of individuals performing the work of the project to achieve its objectives.

(Intro)

Question 8

System for Value Delivery

Answer 8

A collection of strategic business activities aimed at building, sustaining, and/or advancing an organization.

Portfolios, programs, projects, products, and operations can all be part of an organization’s system for value delivery.

(Intro)

Question 9

Value

Answer 9

The worth, importance, or usefulness of something.

Different stakeholders perceive value in different ways. Customers can define value as the ability to use specific features or functions of a product. Organizations can focus on business value as determined with financial metrics, such as the benefits less the cost of achieving those benefits.

(Intro)

Question 10

Examples of ways that projects produce value include:

Answer 10

• Creating a new product, service, or result that meets the need of customers or end users
• Creating positive social or environmental contributions
• Improving efficiency, productivity, effectiveness, or responsiveness
• Enabling the change needed to facilitate organizational transition to its desired future state
• Sustaining benefits enabled by previous programs, projects, or business operations

(A System for Value Delivery)

Question 11

True or False: A system for value delivery is part of an organization’s internal environment that is subject to policies, procedures, methodologies, frameworks, and governance structures.

Answer 11

True: That internal environment exists within the larger external environment which includes the economy, the competitive environment, and legislative constraints.

(A System for Value Delivery)

Question 12

Process Assets

Answer 12

Process assets may include tools, methodologies, approaches, templates, frameworks, patterns, or PMO resources.

(A System for Value Delivery)

Question 13

Governance Documentation

Answer 13

This documentation includes policies and processes.

A System for Value Delivery

Question 14

Data Assets

Answer 14

Data assets may include databases, document libraries, metrics, data, and artifacts from previous projects.

(A System for Value Delivery)

Question 15

Knowledge Assets

Answer 15

Knowledge assets may include tacit (or implied) knowledge among project team members, subject matter experts, and other employees.

(A System for Value Delivery)

Question 16

Security and Safety

Answer 16

Security and safety measures may include procedures and practices for facility access, data protection, levels of confidentiality, and proprietary secrets.

(A System for Value Delivery)

Question 17

Organizational Culture, Structure, and Governance

Answer 17

These aspects of an organization include the vision, mission, values, beliefs, cultural norms, leadership style, hierarchy and authority relationships, organizational style, ethics, and code of conduct.

(A System for Value Delivery)

Question 18

Infrastructure

Answer 18

Infrastructure consists of existing facilities, equipment, organizational and telecommunications channels, information technology hardware, availability, and capacity.

(A System for Value Delivery)

(A System for Value Delivery)

Question 19

Information Technology Software

Answer 19

Examples include scheduling software, configuration management systems, web interfaces to online automated systems, collaboration tools, and work authorization systems.

(A System for Value Delivery)

Question 20

Resource Availability

Answer 20

Examples include contracting and purchasing constraints, approved provider and subcontractors, and collaboration agreements.

Availability related to both people and materials includes contracting and purchasing constraints, approved providers and subcontractors, and time lines.

(A System for Value Delivery)

Question 21

Employee Capability

Answer 21

Examples include general and specialized expertise, skills, competencies, techniques, and knowledge.

(A System for Value Delivery)

Question 22

Examples of Internal Environmental Factors

Answer 22

• Process assets
• Governance documentation
• Data assets
• Knowledge assets
• Security and safety
• Organizational culture, structure, and governance
• Geographic distribution of facilities and resources
• Infrastructure
• Information technology software
• Resource availability
• Employee capability

(A System for Value Delivery)

Question 23

Examples of External Environmental Factors:

Answer 23

• Marketplace conditions
• Social and cultural influences and issues
• Regulatory environment
• Commercial databases
• Academic research
• Industry standards
• Financial considerations
• Physical environment

(A System for Value Delivery)

Question 24

Marketplace Conditions

Answer 24

Marketplace conditions include competitors, market share, brand recognition, technology trends, and trademarks.

(A System for Value Delivery)

Question 25

Social and Cultural Influences and Issues

Answer 25

These factors include political climate, regional customs and traditions, public holidays and events, codes of conduct, ethics, and perceptions.

(A System for Value Delivery)

Question 26

Regulatory Environment

Answer 26

The regulatory environment may include national and regional laws and regulations related to security, data protection, business conduct, employment, licensing, and procurement.

(A System for Value Delivery)

Question 27

Commercial Databases

Answer 27

Databases include standardized cost estimating data and industry risk study information.

(A System for Value Delivery)

Question 28

Academic Research

Answer 28

This research can include industry studies, publications, and benchmarking results.

(A System for Value Delivery)

Question 29

Financial Considerations

Answer 29

These considerations include currency exchange rates, interest rates, inflation, taxes, and tariffs.

(A System for Value Delivery)

Question 30

Physical Environment

Answer 30

The physical environment pertains to working conditions and weather.

(A System for Value Delivery)