WGU C722 Unit 2 Project Management Concepts, Top Exam Questions & Answers, rated A+

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WGU C722 Unit 2 Project Management Concepts, Top Exam Questions & Answers, rated A+ Operations - ____________ are the ongoing, daily activities of an organization that produces revenue and expe ... nse. project - A ________ is an activity or group of activities to generate a new, unique product, service, or results. portfolio - A _______ is a group of related programs that support a long-term company goal or objective. Business strategy - _______ consists of the activities, methods, tactics, etc. that will be employed to meet the business's goals. These may include: - increased market share and profitability through entry into a new market segment, - customer retention by best customer services in the industry, - compliance with new and revised government requirements, and - reduced costs by providing best tools and systems to operational personnel. program - A _______ is a group of related projects. Project Management - _______ is the application of knowledge, skills, tools and techniques to ensure the project meets the goals. Phases of the Project Life Cycle - Defining, Planning, executing and closing are _______. project defining phase - The idea for the project is formalized into a project proposal and the decision on whether the project will be selected for implementation is made during the _______. project planning phase - Detailed planning occurs during the ______. project executing phase - The bulk of the work to complete the project outcomes occurs during the ________. project closing phase - The _________ of the project occurs when the project is completed to the customers' satisfaction. triple constraint - The ______ includes the cost (budget), schedule (time), and scope (deliverables). Project Manager (PM) - The __________ is responsible and accountable for managing the project to maximize its success Functional (Departmentalized) - The ___________ is the oldest and most basic form of organization. It is the type of organization most often represented in corporation shareholder reports Business scenario - A ______________ represents an important business need or issue and provides an opportunity for others to create an appropriate, valuable solution Project objectives - ___________ are typically determined by the project sponsor and are intended to be very specific in order to appropriately communicate project expectations. SMART Active listening - __________ is important to understanding what others are saying both verbally and non-verbally and for effective project management Stakeholder engagement - ___________ is the process of communicating and interacting with stakeholders in a way that keeps them interested and focused on their involvement in the project Team status reports - ___________ are often updated in an online collaboration tool and published weekly Work breakdown schedules - _________ ensures that everyone understands what has to be delivered and who is responsible to do what when. 8 and 80 Rule - The ___________ indicates a project manager should avoid controlling tasks that take less than eight hours and should not let more than two weeks go by without checking in. project management maturity model (OPM3) - The _______ consists of the following five levels: 1. Ad Hoc 2. Planned 3. Managed 4. Integrated 5. Sustained Functional (Departmentalized) - Some of the advantages of a ______________ organization are: - Lines of authority are clear. - Departmental work is easily prioritized by identified departmental authority. - Flexibility in the use of staff. - Subject matter experts (SME) available to work on multiple projects. - Knowledge and experience readily shared between functional specialists. - Technical continuity exists within the organization. - Professional growth and career paths for the staff are clearly defined. Functional (Departmentalized) Organization - Disadvantages of a____________ are: - Utilizing resources across functions can be difficult. Requests for assistance from other departments not easily prioritized. - It is inefficient for projects requiring collaboration / cooperation between departments. - Project customer is not the only focus. - Organization does not focus on solving project business issues. - Project does not have a single individual responsible for all aspects of the project.. - Response to customer needs is slow and difficult. - Project issues are not all given the same level of attention. - Project is not managed holistically. Projectized Organization - Advantages of a __________ are: - Clear lines of authority, the project manager has full authority. - Once SMEs are assigned, there is less need to [Show More]

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