WGU C722 Project Management - Study
Guide Questions and Answers Rated A+
What is the function of a project risk analysis?
✔✔ To identify, evaluate, and prioritize risks to determine their potential impact on the project’s
success and develop strategies to mitigate them.
What is the purpose of a project schedule baseline?
✔✔ To establish a baseline for project timelines that allows for measuring and comparing actual
performance against the planned schedule.
What is the purpose of project budget management?
✔✔ To plan, allocate, and control project costs to ensure the project stays within the approved
budget.
What does "crashing" a project mean?
✔✔ A technique used to shorten the project schedule by allocating additional resources to tasks,
typically resulting in increased costs.
1
,What is a RACI matrix in project management?
✔✔ A tool used to define roles and responsibilities, clarifying who is Responsible, Accountable,
Consulted, and Informed for each task.
What is the significance of a project procurement plan?
✔✔ It outlines how procurement activities will be handled, including vendor selection, contract
management, and ensuring the necessary resources are available.
What is a project sponsor’s role?
✔✔ To provide high-level support, resources, and guidance to ensure the project aligns with
organizational goals and is successful.
What is stakeholder management?
✔✔ The process of identifying, analyzing, and engaging stakeholders to meet their needs and
expectations while managing their influence on the project.
What is the purpose of project communications management?
✔✔ To ensure effective, timely, and appropriate communication within the project team and
with stakeholders throughout the project lifecycle.
2
,What is a milestone chart?
✔✔ A visual representation of key project milestones, helping to track progress and ensure that
critical goals are met on time.
What is the significance of a project team charter?
✔✔ A document that outlines the team’s objectives, roles, and responsibilities, ensuring
alignment and setting clear expectations for team members.
What does "resource smoothing" mean in project management?
✔✔ The process of adjusting the project schedule to use resources in a more balanced way,
without exceeding the overall project duration.
What is the difference between a project constraint and a project limitation?
✔✔ A project constraint restricts the project’s scope, schedule, or resources, while a limitation is
a condition or factor that may limit the project’s execution but not necessarily its success.
What is a risk response strategy?
3
, ✔✔ A plan developed to address identified risks, involving actions to avoid, mitigate, transfer, or
accept the risk.
What is the purpose of a project closure report?
✔✔ To document the project’s completion, evaluate its success, capture lessons learned, and
close out all remaining project activities.
What is the role of a project coordinator?
✔✔ To assist the project manager with administrative tasks, such as scheduling, communication,
and tracking progress, to ensure the project runs smoothly.
What is Monte Carlo simulation used for in project management?
✔✔ A technique used to assess the risk and uncertainty of project schedules and costs by running
simulations of different project scenarios.
What is the purpose of a project kickoff meeting?
✔✔ To officially start the project, introduce the project team and stakeholders, and clarify the
project’s objectives, roles, and responsibilities.
4
