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APM - PFQ (PFQ) Practice Tests__ APM PFQ Exam Questions & Answers Test Bank_2023. Updated
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APM - PFQ (PFQ) Practice Tests__ APM PFQ Exam Questions & Answers Test Bank_2023. Updated
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APM PFQ1. Define a project Projects are unique, transient endeavours
undertaken to achieve a desired outcome.
Projects bring about change and project
management is recognised as the most
efficient way of managing such change.
2. define project management Project management is the process by
which projects are defined, planned, mon-
itored, controlled and delivered such that
the agreed benefits are realised.
3. identify the differences be- Projects involve uncertainty, require a spe-
tween a project and business cial team and operate in a dynamic envi-
as usual ronment. Business-As-Usual uses the de-
liverables produced to provide on-going
services in a more stable environment.
4. state the key purpose of pro- Project management is used to define,
ject management plan, monitor and control the projects in
order to enable the business benefits to be
realised.
5. list the processes of project - Starting Process - Planning Process -
management Monitoring & Control Process - Feedback
Process - Closing Process
6. list the benefits to an organi- - greater likelihood of achieving the desired
sation of effective project man- result - efficient and best value use of re-
agement sources - satisfying the needs of stake-
holders
7. list the core components of - define project need - capture require-
project management ments - prepare business case - secure
funding - develop management plan - lead
team - manage risks - monitor progress -
manage budget - maintain communication
- close the project
8. define programme
, APM PFQ
- deliver significant business change - over
extensive periods of time. - programme co-
ordinates a number of projects
9. define portfolio management - group of programmes which are being
undertaken for an organization. - ensures
that the right programmes and projects are
being run - while maintaining business as
usual
10. define benefits management Benefits are defined as the quantifiable
and measurable improvement resulting
from completion of deliverables that is per-
ceived as positive by a stakeholder. It will
normally have a tangible value, expressed
in monetary terms that will justify the in-
vestment.
11. define the term project envi- The circumstances and conditions within
ronment which the project, programme or portfolio
must operate.
12. define the components of the Political, Economical, Social, Technologi-
PESTLE acronym cal, Legal, Environmental
13. define the term project life cy- The inter-related phases of a project, pro-
cle gramme or portfolio and provides a struc-
ture for governing the progression of work.
14. define stakeholders and stake- Stakeholders are defined as any person or
holder management and ex- group that has a vested interest or "stake"
plain why stakeholder analysis in the project. Stakeholder management
is important. involves identifying the stakeholders, un-
derstanding their position and their needs
and communicating effectively with them.
Important to consider how much power/in-
fluence and interest each of the stakehold-
ers has and whether they are positive or
negative towards the project.
, APM PFQ
15. define the use of KPIs Key performance indicators are defined
during the concept phase and measured
during the implementation phase. They are
used to determine whether or not the suc-
cess criteria will be met.
16. define success criteria in the Project success criteria are used to estab-
context of managing projects lish whether or not the project has been
successful. They are defined at the start of
the project during the concept phase and
measured at the end of the project during
the handover and closeout phase.
17. identify typical success fac- Success factors are management prac-
tors that may contribute to suc- tices that, when implemented, will increase
cessful projects the likelihood of success of a project,
for example good leadership and effective
communication.
18. state the phases of a typical Concept, Definition, Development, Han-
project life cycle dover & Closure
19. project manager The project manager undertakes the day
to day management of the project on be-
half of the project sponsor
20. project sponsor The project sponsor is ultimately account-
able for the project. They own the business
case and give direction to the project man-
ager. - defines success criteria - defiens
investment aims - initiate the project - sup-
port project manager - monitor progress
21. steering group The project sponsor may need help from
other senior managers representing differ-
ent interests, this is the role of the steering
group or project board.
22. project team members people who will produce the outputs
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