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Introduction to Project Management: Key Concepts and Processes

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Introduction to Project Management: Key Concepts and Processes

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Questions and Answers

What is the definition of project management?

The application of knowledge, skills, and tools and techniques applied to project activities to meet the project requirements (correct)

The application of knowledge, skills, tools, and techniques to a program to meet the program requirements

The process of creating a temporary endeavor to develop a unique product, service, or result

The use of 47 project management processes grouped into five process groups

What is a project?

The process of developing a new product, service, or result

The application of knowledge, skills, and tools and techniques to project activities

A temporary endeavor undertaken to create a unique product, service, or result (correct)

The application of knowledge, skills, tools, and techniques to a program

How is a project life cycle different from a product life cycle?

The product life cycle involves implementing, improving, or enhancing existing business processes and procedures

The project life cycle consists of five process groups

The product life cycle includes developing a new product, service, or result

The project life cycle is temporary, while the product life cycle is permanent (correct)

What are the roles of project management office?

Overseeing and coordinating all projects in an organization Signup and view all the answers

What does program management involve?

Meeting the program requirements and obtaining benefits Signup and view all the answers

What is the primary function of a Project Management Office (PMO)?

Providing support and training on managing projects Signup and view all the answers

Which type of organization structure is characterized by complete control of the project manager over the resources?

Projectized Organization Signup and view all the answers

What is the main role of Portfolio Management?

Centralized management of one or more portfolios to achieve strategic objectives Signup and view all the answers

What is the purpose of a SubPortfolio?

To break down components of a portfolio for ease of management Signup and view all the answers

In which type of organization structure does each employee report to a functional manager?

Functional Organization Signup and view all the answers

What are the components included in a Portfolio?

Programs, projects, and other related work Signup and view all the answers

What are the primary roles of the Project Management Office (PMO)?

Providing support and training on managing projects and maintaining the project management knowledge base Signup and view all the answers

What does a Program represent in an organization's business strategy?

A portion of an organization’s overall business strategy Signup and view all the answers

What is the purpose of a SubProgram?

To further break down components of a portfolio for ease of management Signup and view all the answers

What does Portfolio Management include?

Identifying, prioritizing, authorizing, managing, and controlling projects Signup and view all the answers