MGMT 404 Exam 1 Project Management Test
With Latest Quiz 2022/2023
Project Correct Answer: a work effort made over a finite period of time with a start
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create a unique product, service, or result
Organized to execute a set of activities that cannot be addresses within the limits of the organization's
ongoing normal operations
Can result in a product (or service) that is sustained by an operation (e.g. Eiffel Tower)
Project phase Correct Answer: a set of logically related activities that usually completes one or more
major deliverables of the project
Project life cycle Correct Answer: the full project duration from beginning to end, including all project
stages: initiating, planning, executing, monitoring and controlling, and closing
Process groups Correct Answer: aka project stages: initiating, planning, executing, monitoring and
controlling, and closing
Organization Correct Answer: a group of individuals organized to work for some purpose or mission
Performing organization Correct Answer: referred to as project organization; the organization that is
performing the project
Project stakeholder Correct Answer: an individual or an organization that can affect or be affected by
the project execution
Process Correct Answer: a set of related tasks performed to manage a certain aspect of a project,
such as cost, scope, and risk
Knowledge area Correct Answer: the knowledge requirements related to managing a specific aspect
of a project, such as cost, by using a set of processes
Tailoring Correct Answer: selecting the appropriate lifecycle phases and needed outputs to produce
those outputs; choosing the right processes, inputs, and tools and techniques
Project management Correct Answer: the use of knowledge, skills, and tools to manage a project
from start to finish with the goal of meeting the project requirements
Phase gate Correct Answer: 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.
A project can reach its end in one of two possible ways: Correct Answer: 1. Project has met its
objectives -- the planned unique product has been created
2. Project has been terminated before its successful completion for whatever reason
Product Correct Answer: a tangible, quantifiable artifact that is either the end item or a component of
it
Unique product Correct Answer: outcome of a project must be a unique product, service, or result
Operation Correct Answer: a set of tasks that does not quality to be a project
Situations, or factors acting on the organization, may fall into one of the following 4 categories:
Correct Answer: -Business/legal requirements: based on need of meeting legal, regulatory, or social
requirements
-Stakeholder requests or needs: based on satisfying stakeholder requests or needs
-Business or technological strategies: based on need to implement or change business or
technological strategies
-Products, processes, or services: based on need to create, improve, or fix products, processes, or
services
Strategic business plan or strategic plan Correct Answer: an action plan to achieve its business
goals and objectives
Progressive Elaboration Correct Answer: developing something in incremental steps
Three parts of a process Correct Answer: input, tools and techniques, and output
Characteristics of processes Correct Answer: -iterations: run only once or at predetermined points in
the process
-process interconnect: connected with other processes by input or output
-overlapping: some input items may appear in multiple projects
Project charter Correct Answer: a high-level document that contains items such as the purpose of
the project, a product description, project objectives and requirements, and a summary of the
milestone schedule
Performance measurement baseline (PMB) Correct Answer: aka project baseline. Scope baseline,
schedule baseline, and cost baseline
Project management plan Correct Answer: contains plans fro various project management area
called subsidiary plans, such as a project scope management plan, a schedule management plan,
and a quality management plan
Project Integration Management Correct Answer: project is initiated, planned, and executed in pieces
using different knowledge areas, and all those pieces are related to each other and need to come
together
Project Scope Management Correct Answer: primary purpose is to ensure that all the required work,
and only the required work, is performed to complete the project
Project schedule management Correct Answer: primary purpose is to develop and manage the
project schedule so as to complete the project in time as planned
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