2022 PMP Study Project Management Professional Full Questions And Answers

2022 PMP Study Project Management Professional Full Questions And Answers What is Project Management? Correct Answers: The management of a temporary endeavor undertaken to create a unique product or service. Portfol ...

2022 PMP Study Project Management Professional Full Questions And Answers What is Project Management? Correct Answers: The management of a temporary endeavor undertaken to create a unique product or service. Portfolio Correct Answers: A grouping of related and unrelated projects and programs managed & grouped for visibility and control purposes. Program Correct Answers: A group of related project managed in a coordinated way to obtain benefits and control. Project Team Correct Answers: Set of individual who support the project manager in performing the work of the project to achieve its objectives. What are the three areas of Organizational Project Management? Correct Answers: Project, Programs & Portfolios What are the three structures of a PMO? Correct Answers: Supportive, Controlling & Directive Work Performance Data Correct Answers: The raw observations and measurements identified during activities being performed to carry out the project work. Work Performance Information Correct Answers: The performance data collected from various controlling processes: status of deliverables, status of change request, forecasted ETC. Work Performance Reports Correct Answers: The physical or electronic representation of work performance information. Constraints Correct Answers: Factors that limit options of the project manager and project team. What is OPM3? Correct Answers: Organizational Project Management Maturity Model to help organization determine their level of project maturity. Project Life Cycle Correct Answers: The series of phases that a project passes through from its initiation to its closure. Project Phases Correct Answers: Initiation, planning, executing and controlling, and closing activities that culminate in the completion of one or more deliverables. Agile Development Correct Answers: Family of lifecycles sometimes called methodologies or frameworks. Process Groups Correct Answers: 1. Initiating 2. Planning 3. Executing 4. Monitoring and Controlling 5. Closing Project Artifacts Correct Answers: Documents, templates, agendas, diagrams, and other work products used in managing the project. Project Governance Correct Answers: The framework, functions, and processes that guide project management activities in order to create a unique product, service, or result to meet organizational, strategic, and operational goals. Phase Gate Correct Answers: A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a project or program. Sequential relationships Correct Answers: Contain consecutive phases that start only when the previous phase is complete. This relationship reduces the level of uncertainty, which may eliminate the option for shortening a project's schedule. Overlapping Relationships Correct Answers: Contain phases that start prior to the previous phase ending. This relationship increases the level of risk and may cause rework if something from the previous phase directly affects the next phase. Team Charter Correct Answers: A document that records the team values, agreements, and operating guidelines, as well as establishing clear expectations regarding acceptable behavior by project team members. What 6 key item of a Team Charter? MDTTCC Correct Answers: Team values, Communication guidelines, Decision making criteria and process, Conflict resolution process, Meeting guidelines and team agreements. SLA Correct Answers: Service level agreement. An agreement between a company and a vendor that stipulates performance expectations, such as minimum uptime and maximum downtime levels. Service Level Agreement Measures BSSTD Correct Answers: Business results, Service availability, Security, Technical quality and Defect rates. How are SLA's measured with Agile Projects? PCC Correct Answers: Product backlog progress, completed/accepted stories and comparison of stories delivered. Resource Calendar Correct Answers: A calendar that identifies the working days and shifts on which each specific resource is available. Lesson Learned Register Correct Answers: A project document used to record knowledge gained during a project so that it can be used in the current project and entered into the lessons learned repository. Black Out Times Correct Answers: Occur when the deliverables are handed over for implementation. They suspend any potential changes and reduce negative risk as the solution is released to the customer. Go-Live Correct Answers: the official time and date that the facility begins using the new system How are teams built? PASSPAF Correct Answers: Pre-Assignment Attitudinal Surveys Structured Interviews Specific Assessments PMOs & Organizational Structures Ability Tests Focus Groups Typical 3 PMO Structures DCS Correct Answers: Directive Controlling Supportive What is an Agile PMO? Correct Answers: Centers of excellence Key aspects of an Agile PMO? SMEDRT Correct Answers: Stakeholder management Multi-project management Executing specialized tasks for projects Development and implementation of standards Recruiting, selecting, and evaluating team leaders Training, Mentoring and organizational learning What are the 6 Project Characteristics? (WPPRBA) Correct Answers: Work Group Arrangement PM Authority PM Role Resource Availability Budget Owner Administrative What are the 10 Project Organizational Structure Types? SFMWBSPVHP Correct Answers: Simple Functional Multi-divisional Weak Balanced Strong Projectized Virtual Hybrid PMO Create a Project Characteristics Matrix 6x10 Correct Answers: What is a stakeholder RACI Matrix? Correct Answers: Responsible Accountable Consult Informed Key 3 attributes of a stakeholder Salience Model (PLU) Correct Answers: Power Legitimacy Urgency What are the 18 Project Management Plans? Correct Answers: Scope Requirements Schedule Cost Quality Resource Communications Risk Procurement Stakeholder Change Configuration Scope baseline Schedule baseline Cost baseline Performance Project Life Cycle description Development approach Information Radiator Correct Answers: Number of highly visible methods to display project information. Information Radiator Examples ABC Correct Answers: Average cycle time charts Burndown charts Cumulative flow diagram 5 Project Prioritization Methods Correct Answers: MoSCoW Prioritization Monopoly Money 100 Point Method Paired Comparison Kano Analysis Kano Analysis & the 3 Needs BEP Correct Answers: Customer satisfaction & product development tool. Basic Needs Excitement Needs Performance Needs 4 Modes of Conflict Resolution WSCFP Correct Answers: Withdraw Smoothing Compromising Forcing Problem Solving 5 Facilitation tactics for Engagement DPSKM Correct Answers: Define success Prepare relentlessly Start with impact Keep learners engaged Manage disfunction 4 Brainstorming techniques Correct Answers: Free for all Quite writing Round Robin Green/Red Zone 6 Process steps of Value Stream Mapping ICRCDP Correct Answers: Identify what's being analyzed Create map of current process Review map for delays, waste & constraints Create new value stream map of desired outcome Develop a roadmap for creating optimized state Plant to revisit the process for continued improve. Basic Problem Solving GGD Correct Answers: Gather data Generate insights Decide what to do 5 Problem Solving Techniques BFFPI Correct Answers: Brainstorming Five whys Fishbone Prioritize with dots Identify themes 4 types of decision making ACCS Correct Answers: Autocratic Consultative Autocratic Consensus Manager Shareholder Manager 6 types of Group decision making STPHDF Correct Answers: Simple Voting Thumbs up/down/sideway Polling Highsmiths Decision Spectrum Dot Voting Fist of Five Voting Autocratic decision making Correct Answers: Dictatorship, one person makes the decision for the group Multicriteria decision analysis Correct Answers: Basic framework for making decision when the team is looking at aspects in conflict with each other. Mind/Idea Mapping Correct Answers: Idea maps use the way the brain processes information associatively. Single page diagrams that visually capture ideas in a non-linear format. 5 characteristics of a mind map MMKTB Correct Answers: Main idea Main theme Key image for each branch Twigs of lesser importance Branches form a connected nodal structure Focus on/off Correct Answers: Inquiry vs. Advocacy Dialogue vs. Debate Conversation vs. Argument Understanding vs. Defending ESVP Correct Answers: Explorers Shoppers Vacationers Prisoners Modality Correct Answers: Method of training Synchronous or asynchronous 4 key training questions WWWW Correct Answers: What knowledge requirements What skills needed What level of buy in What modalities of training 4 key training practices BAEC Correct Answers: Baselining Availability Engagement Certification Project objectives Correct Answers: Clarity on report out & verify objectives are met Deliverables are identified WBS Business Value Correct Answers: The net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both. Business case Correct Answers: Defines the ultimate goal by what we want to do and why we want to do it. 4 key items of assembling a Business case Correct Answers: Identify problem/opportunity Determine future state Determine viable options & recommendations Facilitate product roadmap development Business Case Forms Correct Answers: ROI Strategic Investment Furthering Values Research Efficiency Compliance Business case components Correct Answers: Business need Justification Who is requesting Key Situational Dynamics Benefits Measure Methods Customer When Cost Risk 2 types of Business Case Projects Correct Answers: Adaptive Projects Predictive Projects Project Scope Correct Answers: The work performed to deliver a product, service, or result with the specified features and functions. Product Scope Correct Answers: The features and functions that characterize a product, service, or result. Project Scope Statement Correct Answers: The description of the project scope, major deliverables, assumptions, and constraints. Product Analysis Correct Answers: A tool used to define scope that involves asking questions about a product and forming answers that describe the product's use, characteristics, and other relevant aspects. Scope Baseline Correct Answers: The approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, that can be changed only through formal change control procedures and is used as a basis for comparison. Common Scope Baseline Components Correct Answers: Project scope statement WBS/FBS Work Package Planning package WBS dictionary Feature Correct Answers: an important part of something, a characteristic User Stories Correct Answers: Identify what someone wants to accomplish with the product and why. EPIC Correct Answers: Large user story for stakeholders, users, customers and team. Steps in Scope Management Correct Answers: Determine product, service or result reqs. Balance stakeholder need and requirements Develop WBS Verify scope Measure/adjust project scope performance against Scope Change Management Plan How Scope is Measured Correct Answers: Project scope is measured against the project management plan & requirements. How to Assess Project Value Correct Answers: Payback Period ROI Benefit / Cost ratio BCR or BCI Future or Present Value Net Present Value NPV Internal rate of return IRR Calculation for Future and Present Value Correct Answers: PV=FV /(1+i)n Net Present Value Correct Answers: Present value - Present Cost =NPV Internal Rate of Return Correct Answers: Average rate of return earned over the life of the project where NPV=0 Multi-criteria decision analysis (MCDA) Correct Answers: Tool used to acquire project team and/or for collecting requirements. Benefits Management Plan Correct Answers: Document that describes how and when benefits of project will be delivered and measured. Root Cause Correct Answers: The action or situation that initiates a problem. Causal Factor Correct Answers: Removing a causal factor can benefit the outcome but it doesn't prevent recurrence. Opportunity Analysis Correct Answers: An appraisal of costs, benefits, and risks associated with a potential decision. Net Promoter Score Correct Answers: Index used to measure the willingness of customers to recommend a company's products or services to others Scope definition tools Correct Answers: Observation Facilitated Workshops Focus Groups Benchmarking Examples of Defining Requirements Correct Answers: Review Scope management plan Review Requirement management plan Review Stakeholder engagement plan Review Project charter Review stakeholder register Interviews, focus groups, facilitated workshops Document requirement and requirements traceability matrix Requirements Management Plan Correct Answers: A component of the project or program management plan that describes how requirements will be analyzed, documented, and managed. Requirements Traceability Matrix RTM Correct Answers: A table that lists requirements, their various attributes, and the status of the requirements to ensure that all are addressed Scenario Analysis Correct Answers: Define the problem Gather data (PESTLE analysis) Separate certainties from uncertainties Develop scenarios Use the scenarios in planning PESTLE Correct Answers: Political, Economic, Social, Technological, Legal, Environmental Affinity Diagram Correct Answers: Technique that allows large numbers of ideas to be classified into groups for review and analysis. Context Diagram Correct Answers: Highest-level view of a system, showing the data processing system, its input(s) and output(s), and their sources and destinations.