Exam (elaborations)
APM PFQ QUESTIONS AND ANSWERS 2024
- Course
- Institution
Exam of 10 pages for the course SAFe APM at SAFe APM (APM PFQ)
[Show more]
Content preview
APM PFQDefine a project - answer Projects are unique, transient endeavors undertaken to
achieve a desired outcome. Projects bring about change and project management is
recognized as the most efficient way of managing such change.
define project management - answer Project management is the process by which
projects are defined, planned, monitored, controlled and delivered such that the agreed
benefits are realised.
identify the differences between a project and business as usual - answerProjects
involve uncertainty, require a special team and operate in a dynamic environment.
Business-As-Usual uses the deliverables produced to provide on-going services in a
more stable environment.
state the key purpose of project management - answerProject management is used to
define, plan, monitor and control the projects in order to enable the business benefits to
be realised.
list the processes of project management - answer- Starting Process - Planning Process
- Monitoring & Control Process - Feedback Process - Closing Process
list the benefits to an organisation of effective project management - answer- greater
likelihood of achieving the desired result - efficient and best value use of resources -
satisfying the needs of stakeholders
list the core components of project management - answer- define project need - capture
requirements - prepare business case - secure funding - develop management plan -
lead team - manage risks - monitor progress - manage budget - maintain
communication - close the project
define programme - answer- deliver significant business change - over extensive
periods of time. - programme coordinates a number of projects
define portfolio management - answer- group of programmes which are being
undertaken for an organization. - ensures that the right programmes and projects are
being run - while maintaining business as usual
define benefits management - answerBenefits are defined as the quantifiable and
measurable improvement resulting from completion of deliverables that is perceived as
positive by a stakeholder. It will normally have a tangible value, expressed in monetary
terms that will justify the investment.
, define the term project environment - answerThe circumstances and conditions within
which the project, programme or portfolio must operate.
define the components of the PESTLE acronym - answerPolitical, Economical, Social,
Technological, Legal, Environmental
define the term project life cycle - answerThe inter-related phases of a project,
programme or portfolio and provides a structure for governing the progression of work.
define stakeholders and stakeholder management and explain why stakeholder analysis
is important. - answerStakeholders are defined as any person or group that has a
vested interest or "stake" in the project. Stakeholder management involves identifying
the stakeholders, understanding their position and their needs and communicating
effectively with them. Important to consider how much power/influence and interest
each of the stakeholders has and whether they are positive or negative towards the
project.
define the use of KPIs - answerKey performance indicators are defined during the
concept phase and measured during the implementation phase. They are used to
determine whether or not the success criteria will be met.
define success criteria in the context of managing projects - answerProject success
criteria are used to establish whether or not the project has been successful. They are
defined at the start of the project during the concept phase and measured at the end of
the project during the handover and closeout phase.
identify typical success factors that may contribute to successful projects -
answerSuccess factors are management practices that, when implemented, will
increase the likelihood of success of a project, for example good leadership and
effective communication.
state the phases of a typical project life cycle - answerConcept, Definition,
Development, Handover & Closure
project manager - answerThe project manager undertakes the day to day management
of the project on behalf of the project sponsor
project sponsor - answerThe project sponsor is ultimately accountable for the project.
They own the business case and give direction to the project manager. - defines
success criteria - defiens investment aims - initiate the project - support project manager
- monitor progress
steering group - answerThe project sponsor may need help from other senior managers
representing different interests, this is the role of the steering group or project board.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now