LinkedIn PMP Ch1

Project management standards in the PMBOK Guide come from ___.

ANSI

In the acronym PMBOK, what does BOK stand for?

Body of Knowledge

(TF) Operations and project management never intersect during the product lifecycle.

False

(TF) A portfolio includes projects, programs, subportfolios, and operations that are managed to achieve strategic objectives.

True

(TF) The high-level portfolio is comprised of all the projects, programs, sub-portfolios, and operations that are below it.

True

___ takes into account the relationships between many facets, including strategy, portfolio, programs and projects, and operations. a. Organizational project management (OPM) b. Oppositional project management (OPM) c. Operational project management (OPM) d. Operational program management (OPM)

a. Organizational project management (OPM)

If you visualized projects, programs, and portfolios as a vertical hierarchy, which would be at the top, encompassing the others? a. Portfolios b. Projects c. Programs D. none of the above

a. Portfolios

A ___ is when you manage a group of projects or subprograms together to reap some benefit that you wouldn't ordinarily get by managing them individually. a. program b. portfolio c. project d. all of the above

a. program

What is the difference between programs and portfolios? a. Programs are unrelated projects managed together to obtain strategic value. Portfolios are related programs managed to obtain benefits that would benefit from being managed as a group. b. A program is a group of related projects managed in a coordinated way to obtain benefits that would not be available from managing them separately. Portfolios are projects, programs, and operations managed as a group to achieve strategic objectives. c. Programs are projects that are established by the PMO office, while portfolios are established by the C-suite officers in coordination with the company's board of directors. d. A portfolio is a group of related projects managed in a coordinated way to obtain benefits that would not be available from managing them separately. Programs are projects, programs, and operations managed as a group to achieve strategic objectives.

b. A program is a group of related projects managed in a coordinated way to obtain benefits that would not be available from managing them separately. Portfolios are projects, programs, and operations managed as a group to achieve strategic objectives.

__ is the centralized management of one or more portfolios ot achieve strategic objectives and it focuses on doing the right programs and projects. a. project management b. portfolio management c. operations management d. program management

b. portfolio management

___ are managed in a coordinated manner to obtain benefits not available from managing them individually. a. program groups b. projects c. portfolios d. programs

b. projects

___ are managed in a coordinated manner to obtain benefits not available from managing them individually. a. program groups b. projects c. programs d. portfolios

b. projects

By definition, projects are ____. a. complex and guarantee business growth b. unique and haven't been done before c. challenging and large d. made up of several services

b. unique and haven't been done before

What does PMI define project management as? a. industry-specific skills, tools, and techniques to manage an industry project b. a lightweight process frameowork that embraces iterative and incremental practices to complete a project c. The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements d. initiation, planning, execution, executioin, control, and closeout of a project

c. The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

___ is the benefit derived from projects for a business venture. a. process change b. business improvement c. business value d. business benefit

c. business value

Portfolio management is the ___ management of one or more portfolios to achieve strategic objectives. a. collated b. diversified c. centralized d. decentralized

c. centralized

Managing risks, interdependencies, constraints, and issues that may arise from a large undertaking is called ___. a. project management b. portfolio management c. program management d. product management

c. program management

What is the main purpose of projects? a. to spark creativity b. to increase efficiency c. to drive change in an organization d. to increase funding sources

c. to drive change in an organization

(MC) What is the chief objective of portfolio management? a. to ensure programs and projects align with business objectives b. to ensure proper allocation of resources or achieve the desired return on the investment c. to guide organizations in making sound investment decisions d. all of the above

d. all of the above

What is a key benefit of project management? a. Resolving issues sooner b. Meeting business objectives and goals c. Addressing stakeholder needs d. all of the above

d. all of the above

What is a legitimate sign of project completion? a. Objectives being met b. The early ending of a project c. Termination for legal reasons d. all of the above

d. all of the above

What is characteristic of a project? a. It delivers a product, service, or result. b. It's temporary and has a start and end date. c. It is unique (it's never been done before). d. all of the above

d. all of the above

Why might a project be initiated? a. To implement a technological strategy b. To create, improve, or fix a product c. To satisfy stakeholder needs d. all of the above

d. all of the above

What does the PMBOK Guide help to define? a. Common vocabulary b. Ethical guidelines c. Professional conduct guidelines d. all the above

d. all the above

Brand recognition, reputation, goodwill, and trademarks are examples of ___. a. things that don't impact business success b. ways to improve revenue c. tangible elements d. intangible elements

d. intangible elements

A _____ is a temporary endeavor undertaken to create a unique product, service, or result. a. deadline b. goal c. standard d. project

d. project