CAPM course 2024 Exam Questions and Answers Graded A
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Course
CAPM.
Institution
CAPM.
Program vs. Portfolio vs. project - program is a collection of projects and a porfolio is a collection of programs and projects.
a project is a temporary endeavor.
project - A temporary endeavor undertaken to create a unique product, service, or result.
1. goals and deliverables
2. start ...
CAPM course 2024 Exam Questions and Answers Graded A Program vs. Portfolio vs. project - program is a collection of projects and a porfolio is a collection of programs and projects. a project is a temporary endeavor. project - A temporary endeavor undertaken to create a unique product, service, or result. 1. goals and deliverables 2. start and end date 3. clear scope and deliverables 4. specific resources and budgeting program - 1. closely related projects 2. multiple projects with interdependencies 3. larger scope than large project 4. longer timeline Portfolio - collection of projects and programs and operation that align with strategic objectives. - broad scope that encompasses all work within an organization - used to manage and prioritize projects and programs summary of portfolio, program and projects - - project: temp, specific goal, deliverables - program: multiple projects, common objective, larger scope portfolio: collection of work,, strategic alignment, broad scope advantages of project, program and portfolio - project: agile, responsive to change focused on specific goals. program: efficient, cost effective, coordination of multiple projects. portfolio: strategic, alignment with long -term goals, broad scope Disadvantages of project, program, and portfolio - project: risky, potential for failure limited scope program: complex, coordination challenges, longer timeline portfolio: difficulty in managing and alignment with changing priorities, broad scope. predictive projects - - predicted on past trends and data - involves long term planning to predict future events or outcomes - detailed plans and budgets - allows for more accurate forecasting and planning - may be less flexible and less able to adapt to unexpected changes adaptive projects - - assumption that the future is uncertain and subject to change - plans and decisions should be flexible and adapt to changing circumstances - software development - crisis management differences btwn predictive and adaptive - - assumption of predictability - assumption of uncertainty - focus on long -term planning - focus on short -term adaptability predictive approach example - 1. foundation 2. framing 3. interior 4. landscaping Adaptive Project Life Cycle - This term is a combination of the iterative and incremental project life cycle models. It requires that one must work in increments because the nature of the work is only found by doing it. The specifics of work at the end of the project are unknown at the start of the project. This term depends on getting feedback after each increment of work and changing work techniques to meet that challenge. ex: construction Project Life Cycle Phases - initate, plan, execute, monitoring and controlling, closing Pure risk - loss of life negative outcome
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