Summary BUSINESS AND MANAGEMENT – APM PMQ COMPETENCE TEST 2024 SERIES 1
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Course
Business and Management
Institution
Business And Management
Dive into a comprehensive study guide designed to sharpen your understanding of key project management concepts such as Control, Governance, Risk Management, Compliance, and Assurance. This resource is meticulously crafted for business and management students aiming to excel in project management. ...
BUSINESS MANAGEMENT – APM PMQ COMPETENCE TEST 2024 SERIES 1
NOTE: This is part 1 of a complete series of APM (Association for Project Management) PMQ (Project
Management Qualification) as of September 2024 all you need for your exam preps
Circle the letter of the Definition that corresponds to the displayed Term.
1. Control
a) The process of providing confidence to stakeholders that projects, programmes, and portfolios will
achieve their objectives for beneficial change.
b) Tracking performance against agreed plans and taking the corrective action required to meet defined
objectives.
c) The framework of authority and accountability that defines and controls the outputs, outcomes, and
benefits from projects. The mechanism whereby the investing organization exerts financial and
technical control over the work and the realization of value.
d) A process that allows individual risk events and overall risk to be understood and managed
proactively, optimizing success by minimizing threats and maximizing opportunities.
Correct Answer: b) Tracking performance against agreed plans and taking the corrective action
required to meet defined objectives.
Explanation: Control in project management refers to the continuous process of tracking performance
against the project plan and making necessary adjustments to ensure that objectives are met.
2. Governance
a) A process that allows individual risk events and overall risk to be understood and managed
proactively, optimizing success by minimizing threats and maximizing opportunities.
b) Tracking performance against agreed plans and taking the corrective action required to meet defined
objectives.
c) Abiding by a set of rules, whether agreed or imposed.
d) The framework of authority and accountability that defines and controls the outputs, outcomes, and
benefits from projects. The mechanism whereby the investing organization exerts financial and
technical control over the work and the realization of value.
Correct Answer: d) The framework of authority and accountability that defines and controls the
outputs, outcomes, and benefits from projects. The mechanism whereby the investing organization
exerts financial and technical control over the work and the realization of value.
Explanation: Governance involves the structure and oversight that ensures projects align with
organizational objectives and are managed within the constraints of scope, time, and cost.
Question: Circle the letter of the Term that corresponds to the displayed Definition.
3. A process that allows individual risk events and overall risk to be understood and managed
proactively, optimizing success by minimizing threats and maximizing opportunities.
a) Risk management
b) Control
c) Control
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