Exam (elaborations)
PMP EXAM QUESTIONS AND ANSWERS 2024
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PMP EXAM QUESTIONS AND ANSWERS 2024
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PMP EXAM QUESTIONS AND ANSWERS 2024Outcome - Answers -An end result or consequence of a process or project. Outcomes
can include outputs and artifacts, but have a broader intent by focusing on the benefits
and value that the project was undertaken to deliver.
Portfolio - Answers -Projects, programs, subsidiary portfolios, and operations managed
as a group to achieve strategic objectives.
Prodcuts - Answers -An artifact that is produced, is quantifiable, and can be either an
end item in itself or a component item.
Program - Answers -Related projects, subsidiary programs, and program activities that
are managed in a coordinated manner to obtain benefits not available from managing
them individually.
Project Management - Answers -The application of knowledge, skills, tools, and
techniques to project activities to meet project requirements. Project Management refers
to guiding the project work to deliver the intended outcomes. Project teams can achieve
the outcomes using a broad range of approaches (e.g., predictive, hybrid, and
adaptive).
Project Manager - Answers -The person assigned by the performing organization to
lead the team that is responsible for achieving the project objectives. Project managers
perform a variety of functions, such as facilitating the project team work to achieve the
outcomes and managing the processes to deliver intended outcomes.
Project Team - Answers -A set of individuals performing the work of the project to
achieve its objectives.
System for Value Delivery - Answers -A collection of strategic business activities aimed
at building sustaining, and/or advancing an organization. Portfolios, programs, projects,
products, and operations can all be part of an organization's system for value delivery.
Value - Answers -The worth, importance, or usefulness of something. Different
stakeholders perceive value in different ways. Customers can define value as the ability
to use specific features or functions of a product. Organizations can focus on business
value as determined with financial metrics, such as the benefits less the cost of
achieving those benefits. Societal value can include the contribution to groups of
people, communities, or the environment.
Audience for this standard-This standard provides a foundational reference for
stakeholders participating in a project. This includes, but is not limited to, project
practitioners, consultants, educators, students, sponsors, stakeholders and vendors
who: - Answers --Are responsible or accountable for delivering project outcomes.
-Work on projects full or part time
, -Work in portfolio, program or project management offices (PMO)
-Are involved in project sponsorship, product ownership, product management,
executive leadership, or project governance.
-Are involved with portfolio, programs, and projects.
-Provide resources for project work
-Focus on value delivery for portfolios, programs, and projects.
-Teach or study project management.
-Are involved in any aspect of the project value delivery chain.
Creating Value - Examples of ways that projects produce value include, but are not
limited to - Answers --Creating a new product, service, or result that meets the needs of
customers or end users.
-Creating positive social or environmental contributions.
-Improving efficiency, productivity, effectiveness, or responsiveness.
-Enabling the changes needed to facilitate organizational transition to its desired future
state.
-Sustaining benefits enabled by previous programs, projects, or business operations.
Process Assets - Answers -Include tools, methodologies, approaches, templates,
frameworks, patterns, or PMO resources.
Governance Documentation - Answers -Documentation that includes policies and
processes.
Product management within a program - Answers -This approach applies the full
product life cycle within the purview and boundaries of a given program. A series of
subsidiary programs or projects will be chartered to achieve specific benefits for a
product. Those benefits can be enhanced by applying product management
competencies like competitive analysis, customer acquisition and customer advocacy.
Integrity - Answers -Stewards behave honestly and ethically in all engagements and
communications. Stewards hold themselves to the highest standards and reflect the
values, principles, and behaviors expected of those in their organizations. Stewards
sever as role models, building trust by living and demonstrating personal and
organizational values in their engagements, work activities, and decisions In the project
management context, this duty often requires stewards to challenge team members,
peers, and other stakeholders to consider their words and actions; and to be
empathetic, self-reflective, and open to feedback.
Care - Answers -Stewards are fiduciaries of the organizational matters in their change
and they diligently oversee them. Higher-performing projects feature professionals who
diligently oversee those matters, beyond the confines of strictly defined responsibilities.
Stewards pay close attention and exercise the save level of care over those matters as
they would their own personal matters. Care relates to the internal business affairs of
the organization. Care for the environment, sustainable use of natural resources, and
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