Project Management Foundations

Question 1

Define: Project

Answer 1

A temporary endeavor to create unique products, services or results

Question 2

What do we call a temporary endeavor to create unique products, services or results?

Answer 2

A Project

Question 3

What is the primary purpose of projects?

Answer 3

To drive change from a current state to a desired future state

Question 4

After the project is launched and moving forward, the project could enter this status while the team is doing tasks related to supporting the project or ramping up.

Answer 4

Transition state

Question 5

What four activities is a project always doing to drive change?

Answer 5

Moving
Adding
Changing
Deleting

Question 6

What is the acronym for the four activities a project is always doing to drive change?

Answer 6

MAC-D

Question 7

What does a project initiation context describe?

Answer 7

Why the project was created

Question 8

Name four project initiation contexts.

Answer 8

Regulatory, legal or social requirements
Stakeholder requests
Technological advances
Creating, improving, or fixing products, processes, or services

Question 9

Why are projects usually initiated?

Answer 9

To solve a problem or to seize an opportunity

Question 10

What are two kinds of business value for projects?

Answer 10

Tangible and intangible

Question 11

Name four kinds of tangible business value.

Answer 11

Monetary assets
Stockholder equity
Fixtures and tools
Market share

Question 12

Name five kinds of intangible business value.

Answer 12

Goodwill and reputation
Brand recognition
Public benefit
Trademarks
Strategic alignment

Question 13

What is project management?

Answer 13

The application of knowledge, skills, tools and techniques to meet the project requirements.

Question 14

What is the application of knowledge, skills, tools and techniques to meet the project requirements called.

Answer 14

Project management

Question 15

How many processes are involved in project management?

Answer 15

49 processes

Question 16

Name six competing constraints project managers must balance on a project.

Answer 16

Scope
Quality
Schedule
Budget
Resources
Risks

Question 17

Name five tasks involved in typical project management.

Answer 17

Identifying requirements
Addressing stakeholder needs, concerns and expectations
Setting up, maintaining and carrying out communications
Managing stakeholders
Balancing competing project constraints

Question 18

Which three project constraints are the most important for project success?

Answer 18

Time
Cost
Scope

Question 19

True or false: Progressive elaboration and a project management approach involves starting broad and getting more and more specific.

Answer 19

True. It is like deductive reasoning

Question 20

Name the progressive steps in progressive elaboration.

Answer 20

Idea or concept
Formulate the idea
Business case
Feasibility study
Project

Question 21

Name four project application areas.

Answer 21

Construction
Health care
Government
Information Areas

Question 22

What is the difference between a project and operations?

Answer 22

A project is temporary. Operations are ongoing.

Question 23

What is the difference between a project management life cycle and a project life cycle?

Answer 23

A project management life cycle involves the domains (IPECC) that we all use as project managers. A project life cycle is unique for every project.

Question 24

The end of a project phase creates this.

Answer 24

A milestone