PMP Exam Prep 7th Edition UPDATED
Exam Questions and CORRECT Answers
Project - Correct Answer- A temporary endeavor undertaken to create a unique product,
service, or result.
Project Management - Correct Answer- The application of knowledge, skills, tools, and
techniques to project activities to meet project requirements
Projects are__________and Operations are____________? - Correct Answer- Temporary;
Ongoing
Program - Correct Answer- a collection of related projects and other work, which is
prioritized and aligned with the strategic business activities. They contain projects and
programs which may not be related.
Projects, Programs, and Operations are _________________? - Correct Answer- Aligned or
driven by the organizational strategies
Project Management Office (PMO) - Correct Answer- Provides standardized and coordinated
management of projects; Facilitates sharing of resources, methods and tools.
Three types of PMO - Correct Answer- Supportive, Controlling, Directive
Supportive PMO - Correct Answer- Primarily a supporting organization
Provides templates, best practices, training, etc
Controlling PMO - Correct Answer- Provides support but also requires adherence to certain
standards, methodologies, etc.
Directive PMO - Correct Answer- Controls projects by managing them directly
Enterprise Environmental Factors - Correct Answer- Not under the control of the project
team. Influence, constrain, or direct the project. "The world we live in" Intangible
,Internal EEFs - Correct Answer- Organizational Culture, Geographic Distribution of facilities
and resources, Infrastructure, IT Software, Resource availability, Employee capability
External EEFs - Correct Answer- Marketplace conditions, Social and cultural influences,
Legal restrictions, Commercial databases, Government or industry standards, financial
considerations
Organizational Process Asset (OPA) - Correct Answer- Process-related assets that can be used
to influence the project's success. Generally they are unique to the organization
What are the two main categories of OPAs? - Correct Answer- Process and Procedures:
Standards Policies, work instructions, templates, and change control procedures
Organizational Knowledge Repositories: Project files, historical information, configuration
management, knowledge bases, financial databases
As the project progresses, stakeholder influence _____________ and risk _____________,
while cost of changes ______________. - Correct Answer- Decrease; decrease; increase
Two categories of risk? - Correct Answer- Positive (opportunities); Negative (Threats)
Tailoring - Correct Answer- The appropriate combination of processes, inputs, tools,
techniques, outputs and life cycle phases to manage a project.
Phase-to-Phase Relationships - Correct Answer- Sequential - phases executed one after the
next
Overlapping - phase starts prior to completion of the previous phase
Iterative - phase relationships can be either sequential or continuous overlapping
Predictive Life Cycle (aka waterfall) - Correct Answer- Progresses through a series of
sequential or overlapping phases; changes are carefully managed
,Iterative Life Cycle - Correct Answer- Scope determined early with time and cost updated as
understanding of final product increases; product developed through a series of repeated
cycles
Incremental Life Cycles - Correct Answer- The product is developed through a series of
iterations that add functionality within a predetermined time frame; the product is considered
complete only after the final iteration.
Adaptive Life Cycles (aka driven or AGILE) - Correct Answer- Uses iterative and
incremental methodologies, but iterations occur more rapidly and are fixed in time and cost
(example: 30 day sprints); while several process are performed in each iteration, early
iterations may focus more on planning.
Hybrid Life Cycles - Correct Answer- Combination of predictive and adaptive life cycles; the
elements that are well known fr have fixed requirements follow predictive, and those still
evolving follow adaptive.
Four stages of product life cycle - Correct Answer- 1. Introduction
2. Growth
3. Maturity
4. Decline
Stakeholders - Correct Answer- Actively or passively involved in the project; interests may
be positively or negatively impacted by the project; could influence the project
Business Case - Correct Answer- market demand, business need or strategic opportunity,
customer request, technological advance, legal requirement,
ecological impact, social need
Project benefits management plan - Correct Answer- Ensures benefits for project are in line;
Outlines how and when benefits will be delivered; includes target benefits, strategic
alignment, time frame for realizing benefits, benefits owner, metrics, assumptions and risks
Four Organizational System's Influence on Projects - Correct Answer- 1. Management
elements
, 2. Governance Frameworks
3. Corporate and Societal Culture
4. Organizational Structure Types
Four Organizational Structures - Correct Answer- 1. Functional
2. Matrix (Weak, Balanced, Strong)
3. Multi-divisional
4. Project-oriented
What structure type does the PM have the most authority? - Correct Answer- PM; Project-
oriented
What structure type does the PM have the least authority? - Correct Answer- Organic or
Simple, Functional, Multi-divisional
Present Value Formula - Correct Answer- PV=FV/(1+r)^n
Three-Point Estimating (formula) - Correct Answer- (O + M + P) / 3
Expected Activity Duration/Cost (Beta/PERT) - Correct Answer- [O + (4xM) + P] /6
Standard Deviation of an Activity (SD) (formula) - Correct Answer- (P - O) / 6
What structure will all employees be released back after completion of the project? - Correct
Answer- Functional
PM competencies - Correct Answer- Technical, Leadership, Strategic and business
management
What two stakeholder must the PM always keep in mind? - Correct Answer- Sponsor and
Team
