PMP certification exam study guide, Questions and answers, 100% Accurate.

PMP certification exam study guide, Questions and answers, 100% Accurate. A Guide to the Project Management Body of Knowledge (PMBOK) - ✔✔-A PMI publication that defines widely accepted project management practices. ...

PMP certification exam study guide, Questions and answers, 100% Accurate. A Guide to the Project Management Body of Knowledge (PMBOK) - ✔✔-A PMI publication that defines widely accepted project management practices. The CAPM and PMP exam are based on this book. Application areas - ✔✔-The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, IT, healthcare, or manufacturing. Certified Associate in Project Management (CAPM) - ✔✔-A person who has slightly less project management experience than a PMP, but who has qualified for and then passed the CAPM examination. Cultural and social environment - ✔✔-Defines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project. Deliverable - ✔✔-A product, service, or result created by a project. Projects can have multiple deliverables. General management skills - ✔✔-These include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology. International and political environment - ✔✔-The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project's ability to progress. Interpersonal skills - ✔✔-The ability to interact, lead, motivate, and manage people. Iron Triangle of Project Management - ✔✔-A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each constitute one side of the triangle; if any side of the Iron Triangle is not in balance with the other sides, the project will suffer. The Iron Triangle of Project Management is also known as the Triple Constraints of Project Management, as all projects are constrained by time, cost, and scope. Physical environment - ✔✔-The physical structure and surroundings that affect a project's work. Program - ✔✔-A collection of related projects working in unison toward a common deliverable. Progressive elaboration - ✔✔-The process of gathering project details in steady, uniform steps. This process uses deductive reasoning, logic, and a series of information-gathering techniques to identify details about a project, product, or solution. Project - ✔✔-A short-term endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable. Project environment - ✔✔-The location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around. Project Management Institute (PMI) - ✔✔-An organization of project management professionals from around the world, supporting and promoting the careers, values, and concerns of project managers. Project management office (PMO) - ✔✔-A central office that oversees all projects within an organization or within a functional department. A PMO supports the project management through software, training, templates, policies, communication, dispute resolution, and other services. Project Management Professional (PMP) - ✔✔-A person who has proven project management experience and has qualified for and then passed the PMP certification examination. Project portfolio management - ✔✔-The management and selection of projects, that support an organization's vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process. Subprojects - ✔✔-A smaller project managed within a larger, parent project. Subprojects are often contracted work whose deliverable allows the larger project to progress. Triple Constraints of Project Management - ✔✔-Also known as the Iron Triangle. This theory posits that time, cost, and scope are three constraints that every project has. A series of activities to create a unique product or service by a specific date is best described as which one of the following? A. A program B. An operation C. A project D. A subproject - ✔✔-C. A project is a temporary endeavor to create a unique product, service, or result. Deadlines and cost constraints are tied to the project. A is incorrect because programs are a collection of projects working toward a common cause. B is incorrect because operations are ongoing activities of an organization. D, a subproject, describes a project that is part of and supports a larger project. Which of the following is likely to be part of an operation? A. Providing electricity to a community B. Designing an electrical grid for a new community C. Building a new dam as a source of electricity D. Informing the public about changes at the electrical company. - ✔✔-A. Providing electricity to a community is the best example of operations, as it is an ongoing activity. B, C, and D are all examples of projects, as they are temporary and create a unique product, service, or result. Of the following, which one is the best examples of progressive elaboration? A. It is the process of decomposing the work into small, manageable, tasks. B. It is the process of taking a project from concept to completion. C. It is the process of taking a project concept to a project budget. D. It is the process of identifying the business needs of a potential project. - ✔✔-B. According to the PMBOK, progressive elaboration means developing in steps and then continuing by increments. Choice A describes the process of breaking down the project scope into the task list. C is not a valid choice for this question. D is part of determining if a project should be chartered and is not the best answer for this question. Your organization would like to create a new product based on market research. This new product will be created by a project. This is an example of which one of the following reasons to launch a new project? A. Organizational need B. Customer request C. Market demand D. Legal requirement - ✔✔-C. Projects can be created for a number of reasons, and this example supports the market demand choice. A, an organizational need, is a project to satisfy an internal need. B is incorrect because no specific customer asked for this new product. D is incorrect because there is no legal requirement to create the new product. A program is which one of the following? A. A very large, complex project. B. A collection of small projects with a common goal. C. A collection of projects with a common objective. D. A collection of subprojects with a common customer. - ✔✔-C. best describes a program. A program is a collection of projects working together to gain benefits by managing the projects as a group rather than on an individual basis. A, B, and D are not attributes of programs, as projects within a program neither are necessarily small nor are they subprojects. Who manages programs? A. Management B. Project sponsors C. Project managers D. Program managers - ✔✔-D. Programs are managed by program managers. A, B, and C are incorrect choices. You have an excellent idea for a new project that can increase productivity by 20% in your organization. Management, however, declines to approve the proposed project because too many resources are already devoted to other projects. You have just experienced what? A. Parametric modeling B. Managed by exception C. Project portfolio management D. Management reserve - ✔✔-C. Project portfolio management is the management, selection, and assignment of projects that support an organizations business objects. A, B, and D are not valid answers. Of the following, which is not part of the Iron Triangle? A. Quality B. Time C. Scope D. Cost - ✔✔-A. Quality, while important, is not part of the Iron Triangle of Project Management. B, C, and D make up the Iron Triangle. Of the following, which statement is correct? A. A project manager must use every process identified within the PMBOK on every project. B. A project must use every tool and technique as identified within the PMBOK on every project. C. A project manager must use the most appropriate processes on every project. D. A project manager must agree that he will use all of the project management tools and techniques on every project. - ✔✔-C. A project manager does not have to use all of the processes within the PMBOK, only the most appropriate. A, B, and D are incorrect statements, as the project manager does not use every process or tool and technique within the PMBOK. Projects are temporary endeavors to create a unique product, service, or result. Which one of the following does not relate to the concept of "temporary" in project management? A. The project team B. The market window status on which the project is capitalizing C. The project deliverables D. The project manager - ✔✔-C. Most projects create a deliverable that will outlive the project itself. A, B, and D are incorrect, as these attributes are temporary in nature. A project creates a unique product, service, or result. Which one of the following is a result? A. A new piece of software B. A new airplane C. A feasibility study D. A call center - ✔✔-C. The PMBOK classifies the concept of creating feasibility as a result. A, B, and D describe products and services. What is the difference between a standard and a regulation? A. A standard is optional; regulations are not. B. A standard is not optional; a regulation may be. C. A standard is rarely optional; regulations are never optional. D. A standard is a guideline; a regulation is a request. - ✔✔-A is the best choice, as standards are optional while regulations are not. B, C, and D do not accurately describe the difference between standards and regulations. A project manager needs five areas of expertise to be successful. Which one is not one of the five areas of expertise? A. Application area knowledge B. An understanding of the project environment C. PMP or CAPM certification D. Interpersonal skills - ✔✔-C. Believe it or not, you don't have to be a PMP or a CAPM to be a successful project manager. A, B, and D are valid characteristics of a project manager. Which one of the following is not a characteristic of a project's cultural and social environment? A. Economics B. Time zone differences C. Demographics D. Ethics - ✔✔-B. Time zone differences are not part of the cultural and social environment, but are part of the international and political environment. A, C, and D are part of the cultural and social environment. You are the project manager of the KHGT Project, which will span four countries around the world. You will need to consider all of the following characteristics of the international and political environment except for which one? A. International, national, regional, and local laws B. Customs C. Customers D. Holidays - ✔✔-C. Customers are not part of the international and political environment. A, B, and D are part of this environment. Which one of the following is not an example of an interpersonal skill? A. Financial management and accounting B. Influencing the organization C. Motivating people D. Problem solving - ✔✔-A. Financial management and accounting is not an interpersonal skill. B, C, and D are examples of interpersonal skills, so these choices are invalid for this question. What is a subproject? A. It is a smaller project that supports a parent project. B. It is a project that is performing below expectations. C. It is a project that has been experiencing project spin-off. D. It is delegation of a project phase. - ✔✔-A best describes a subproject, which is a project, typically smaller than the original, that supports a parent project. B, C, and D do not accurately describe a subproject. Where will a project manager most likely get project management mentoring? A. Project Management International B. American Society for Quality C. The project management office D. Subject matter experts - ✔✔-C. Project managers will most likely receive mentoring from the project management office. A is not a valid choice. B is not a valid choice because ASQ does not provide mentoring for project managers. D is not the best choice for the question because the PMBOK specifically identifies the PMO as a source for mentoring. Which one of the following is an example of operations? A. Creating a new community park B. Designing a new car C. Sending monthly invoices to an organization's 25,000 customers D. Removing an old server and replacing it with a newer one - ✔✔-C is the best example of operations, as the answer implies that this work is done every month. A, B, and D are all unique endeavors that may be done once or just occasionally, but are not part of ongoing operations. When considering the selection of projects to be initiated, project portfolio management considers all of the following except for which one? A. Risk/reward categories B. Lines of business C. The project manager's experience D. General types of projects - ✔✔-C. While the experience of the project manager is likely considered during the assignment of projects, it is not considered during project portfolio management. A, the risk and reward of the project is considered. B and D, the line of business and the general types of projects, are also considered as part of project portfolio management. Phase-end review - ✔✔-The review of a phase to determine if it accomplished its requirements. Phaseend reviews are also called phase exits, phase gates, and kill points. Fast tracking - ✔✔-A schedule compression method that changes the relationship of activities. With fast tracking, activities that would normally be done in sequence are allowed to be done in parallel or with some overlap. Fast tracking can be accomplished by changing the relation of activities from finish-tostart (FS) to start-to-start (SS), or by adding lead time to downstream activities. Fast tracking adds risk to the project. Phase - ✔✔-The logical division of a project based on the work or deliverable completed within that phase. Project Manager - ✔✔-Accountable for managing the project. He or she guides the team through the project phases to completion. Customer/user - ✔✔-The person(s) who will use the project's deliverables. Functional management - ✔✔-Consists of the managers of the administration or functional units of an organization. They have their own staff, are part of ongoing operations, and may lend resources to your project. Often it's the functional management that employs the people responsible for completing the project work. Project team members - ✔✔-The project team is the collection of individuals who will hopefully work together to ensure the success of the project. Balanced matrix structure - ✔✔-An organization where organizational resource are pooled into one project team, but the functional managers and the project managers share the project power. Composite structure - ✔✔-An organization that creates a blend of the functional, matrix, and projectized structures. Deliverable - ✔✔-A verifiable, measurable product or service created by a phase and/or a project. Functional structure - ✔✔-An organization that is divided into functions, and each employee has one clear functional manager. Each department acts independently of the other departments. A project manager in this structure has little to no power and may be called a project coordinator. Influences - ✔✔-Persons who can positively or negatively influence a project's ongoing activities and/or the project's likelihood of success. Kill point - ✔✔-The review of a phase to determine if it accomplished its requirements. A kill point signals an opportunity to kill the project if it should not continue. Negative stakeholder - ✔✔-A stakeholder who does not want a project to succeed. He or she may try to negatively influence the project and help it fail. Performing organization - ✔✔-The organization whose employees or members are most directly involved in the project work. Phase exit - ✔✔-The review of a phase to determine if it accomplished its requirements. Phase gate - ✔✔-The review of a phase to determine if it accomplished its requirements. Positive stakeholder - ✔✔-A stakeholder who wants a project to exist and succeed. He or she may try to positively influence the project and help it succeed.