PK0-005 Must KNOW QUESTIONS AND
ANSWERS GRADE A+ GUARANTEED
Processes
Activities that underlie the effective practice of project management;
they include all the phases of concept/discovery, initiation,
planning, execution, and closing a project.
project budget
The total financial sum available to pay for a project's expenses;
includes the cost estimates and additional reserves to cover issues.
cloud computing
Computing architecture where on-demand resources provisioned with the
attributes of high availability, scalability, and elasticity are
billed to customers on the basis of metered utilization.
cloud service providers
Organization providing infrastructure, application, and/or storage
services via an "as a service" subscription-based, cloud-centric
offering.
project life cycle
A process that defines the five phases that a project goes through
from the beginning to the end.
feasibility
A feasibility study to analyze the hardware, software, facilities,
and databases needed for a proposed project.
project team
Consists of the project manager, the project management team, and
other individual team members. The project team contains people from
different groups who possess knowledge on specific subjects or have
unique skill sets to carry out project work.
team logistics
The practice of providing materials and facilities needed by the team
to accomplish their tasks.
metrics
Quantifiable measurements of the status of results or processes.
business case
A brief document that justifies the investments made for a project
and describes how a particular investment is in accordance with the
organization's policy.
Alternatives identification
,The act of generating different plans for achieving project goals.
milestones
A control point event in a project with zero duration that triggers a
reporting requirement or requires sponsor or customer approval before
proceeding with the project.
voice over Internet Protocol (VOIP)
A generic name for protocols that carry voice traffic over data
networks.
process flowchart
It shows the sequence of events and the flow of inputs and outputs
between elements in a process or system.
loops
In scripting and programming, control statement that executes code
repeatedly based on a condition.
ROI
return on investment
ROI
A metric to calculate whether an asset is worth the cost of deploying
and maintaining it.
ROI can be calculated as ______.
ROI : (Profit / Cost of investment) * 100
Profit = Current value - Cost of investment
or
ROI: (Revenue - Cost of good sold ) / Cost of good sold
contracts
A mutually binding agreement that details the obligations of the
buyer and vendor.
regulations
Compliance-mandatory characteristics for specific products, services,
or processes.
assumptions
The statements that must be taken to be true in order to begin
project planning.
risks
Any unexpected event that can affect your project. The effect might
be either positive or negative, and the impact might be on any aspect
of the project from personnel, processes, technology, and resources.
These unexpected events are difficult or impossible to predict.
ESG
Environmental, Social, Governance
benefit measurement models
,A project selection decision model that analyzes the predicted value
of the completed projects in different ways. They may present the
value in terms of forecasted revenue, ROI, predicted consumer demand
in the marketplace, or the Internal Rate of Return (IRR).
ESG
Organizational performance measures unrelated to financial
performance that assess how an organization contributes to society.
business partners
Individuals and organizations who are external to the company and
provide specialized support to tasks such as installation,
customization, training, or support.
project objectives
The criteria used to measure whether a project is successful or not.
organizational structure
The compositional makeup of an organization that dictates how the
various groups and individuals within the organization interrelate.
functional organizational structure
An organizational structure where reporting is hierarchical, with
each individual reporting to a single manager.
functional manager
Individuals who are part of management in the administrative or
functional side, such as human resources, finances, accounting, or
even procurement of the business in the organization. They sometimes
act as subject matter experts or may provide services needed for the
project.
relative authority
The project manager's authority relative to the functional manager's
authority over the project and the project team.
projectized organizational structure
An organizational structure where the project manager and a core
project team operate as a completely separate organizational unit
within the parent organization.
matrix organizational structure
An organizational structure with a blend of functional and project-
based structures in which individuals still report upward in the
functional hierarchy, but they also report horizontally to one or
more project managers.
program
A group of related projects that have a common objective.
PMs
The individual who is responsible for managing all aspects of the
project.
Program managers
, An individual who coordinates with the project managers, oversees
related projects in a program to obtain maximum benefits, and
provides guidance and support to every individual project.
project management office (PMO)
A centralized, ongoing administrative unit or department that serves
to improve project-management performance within an organization by
providing oversight, support, tools, and helpful methodologies to
project managers.
performance management
A structured system of processes and tools that improves an
organization's ability to meet targets; evaluates current performance
and improves future outcomes; and is used to improve the performance
of projects, employees, departments, or organizations.
documentation
Accurate and up to date documentation is essential for maintaining
effective and secure business procedures. The sorts of things that
need documenting include policies, procedures, systems architecture,
and assets.
project stakeholder
A person who has a business interest in the outcome of a project or
is actively involved in its work.
Senior management
The highest level of management in an organization, such as the
executive team.
sponsor
Individuals or groups that provide financial assistance to the
project. If the sponsor is outside of the company, such as a customer,
their duties may be the responsibility of the project manager.
Internal customers
A consumer of a good or service that works in the same organization
as the supplier.
External customers
A consumer of a good or service who does not work in the same
organization as the supplier.
end-user
The people who will be affected by the product or service generated
by the project. This might be but is not necessarily the individuals
or organization in the customer role.
portfolio management
Individuals, often executives, in the portfolio review board who are
part of the project selection committee and belong to the high-level
project governance side of the organization.
portfolio
