PMBOK 6th Edition Ch 1 Questions And
Answers Guaranteed Success.
PMBOK - correct answer. Term that describes the knowledge within the profession
of project management.
Generally Recognized - correct answer. Means the knowledge and practices
described are applicable to most projects most of the time, and there is consensus
about their value and usefulness.
Good Practice - correct answer. Means there is general agreement that the
application of the knowledge, skills, tools, and techniques to project management
process can enhance the chance of success over many projects in delivering the
expected business values and results.
Methodology - correct answer. Is a system of practices, techniques, procedures and
rules used by those who work in a discipline.
Standard - correct answer. Is a document established by an authority, custom, or
general consent as a model or example.
Project - correct answer. Is a temporary endeavor undertaken to create a unique
product, service, or result. Projects are undertaken to fulfill objectives by producing
deliverables. It has a definite beginning and end.
Objective - correct answer. Is defined as an outcome toward which work is to be
directed, a strategic position to be attained, a purpose to be achieved, a result to be
obtained, a product to be produced, or a service to be performed.
Deliverable - correct answer. Defined as any unique and verifiable product, result, or
capability to perform a service that is required to be produced to complete a process,
phase or project. may be tangible or intangible.
Business Value - correct answer. Is the net quantifiable benefit derived from a
business endeavor. May be tangible or intangible, or both. In business analysis it is
considered a return in the form of time, money, goods, or intangibles in return for
something exchanged.
, Project Initiation Context - correct answer. - Meet regulatory,legal, or social
requirements;
- Satisfy stakeholder requests or needs;
- Implement or change business or technological strategies
- Create, improve, or fix products, processes, or services.
Project Management - correct answer. Is the application of knowledge, skills, tools
and techniques to project activities to meet the project requirements. Project
Management is accomplished through the appropriate application and integration of the
project management process identified for the project. Project Management enables
orgs to execute projects effectively and efficiently. Enables the achievement of
organizational goals and objectives.
Program - correct answer. Is defined as a group of related projects, subsidiary
programs, and program activities managed in a coordinated manner to obtain benefits
not available from managing them individually.
Portfolio - correct answer. Is defined as projects, programs, subsidiary portfolios,
and operations managed as a group to achieve strategic objectives.
Operations Management - correct answer. Is concerned with the ongoing production
of goods and or services. It ensures that business operations continue efficiently by
using the optimal resources needed to meet customer demands. It is concerned with
managing that transform inputs into outputs.
Portfolio Management - correct answer. Aligns portfolios with organizational
strategies by selecting the right programs or projects, prioritizing the work, and providing
the needed resources.
Program Management - correct answer. Harmonizes its program components and
controls interdependencies in order to realize specified benefits.
Organizational Project Management (OPM) - correct answer. OPM is defined as a
framework in which portfolio, program, and project management are integrated with
organizational enablers in order to achieve strategic goals. Ensures the organization
undertakes the right projects and allocates critical resources appropriately.
Project Life Cycle - correct answer. Is the series of phases that a project passes
through from its start to its completion. It provides the basic framework for managing the
project. Phases may be iterative, sequential, or overlapping. Life Cycles may be
adaptive or predictive.
Development Life Cycle - correct answer. These are one or more phases within the
Project Life Cycle, and are associated with the development of the product, service, or
result. Can be predictive, iterative, incremental, adaptive, or a hybrid model.
