Section 2 - Definitions

Question 1

Project Steering Group/Board

Answer 1

They have high-level responsibility for the business case, the feasibility of the project and the achievement of project outcomes

Question 2

Project Sponsor

Answer 2

They own the business case and the realisation of benefits. They help the PM to manage key stakeholders and sometimes manage them directly.

Question 3

PM

Answer 3

Manages the project as a single point of contact. They implement the plans and processes incorporated within the PMP.

Question 4

Project Team Members

Answer 4

Deliver the products to time, cost and quality parameters. Produce the technical products associated with the project under the direction of the project manager

Question 5

Users

Answer 5

Define what is required from the products once delivered through the requirements management process.

Question 6

Suppliers

Answer 6

Help identify key technical aspects and constraints. Able to suggest specific solutions, provide proposals, manage other suppliers and deliver the subject of these proposals. Engaged via a contract.

Question 7

Product Owner

Answer 7

They form the link between the project team and the user community, leading the focus on product development

Question 8

Governance

Answer 8

The framework of authority and accountability that defines and controls the outputs, outcomes and benefits from projects, programmes and portfolios.

Question 9

Programme

Answer 9

A unique, transient strategic endeavour undertaken to achieve beneficial change and incorporating a group of related projects and BAU.

Question 10

Portfolio

Answer 10

A collection of projects and/or programmes used to structure and manage investments at an organisational or functional level to optimise strategic benefits or operational efficiency

Question 11

Business Case

Answer 11

Provides justification for undertaking a project, programme or portfolio. It evaluates the benefit, cost and risk of alternative options and provides a rationale for the preferred solution

Question 12

Benefits Management

Answer 12

The mechanism for understanding what organisational benefits accrue from the project, and the systematic management of them until they are realised

Question 13

Five elements of benefits management

Answer 13

1. Identification
2. Definition
3. Planning
4. Tracking
5. Realisation

Question 14

What makes up the benefits management cycle?

Answer 14

1. Identify & Quantify
2. Value & Appraise
3. Plan
4. Realise
5. Review Results
6. Review

Question 15

Stakeholder

Answer 15

Individuals or groups who have an interest or role in the project, programme or portfolio, or are impacted by it