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CAPM Exam Prep Part1

Certfied Associate in Project Management Certification Exam Preperation

QuestionAnswer
What is your main objective as a Project Manager? Implement frameworks to streamline the team's workflow and establish processes to meet the client's requirements.
What are your sub-objectives as a Project Manager? Break large workloads down into manageable tasks, set realistic deadlines, allocate sufficient resources for each task, and host regular team meetings.
What is a Project? A temporary endeavor undertaken to create a unique product, service, or result.
What is an Endeavor? Something that delivers value as a product, service, or result.
A project has a ________ and an ____, has a unique set of ________, and will create a service that will add _____ for the company. Beginning, End, Requirements, Value.
Projects enable ______ and create ____. Change, Value.
Business Analysis The practice of enabling change in an organizational context by defining needs and recommending solutions that deliver value to the stakeholders.
Business Analysis is vital in determining the ________ of a project, to resolve _____, address ____, enhance _______, and other objectives. Feasibility, Issues, Gaps, Capabilities.
Business Analysis is also used to determine business ______, organizational _____, and project practitioners' focus and intersection. Strategy, Goals.
______ offer several components which enable change and effective value delivery within organizations. Projects.
Projects are _______, so businesses can protect themselves from overextending their financial and human resources. Temporary.
_______ projects have timelines that assist them in staying on ______ and accountable to other dependent business operations. Temporary, Budget.
Business Analysis connects __________ goals to ______ goals, which are the established mechanisms for realizing or making them a reality. Organizational, Project.
When thinking about the feasibility of a new service or change to a business, what questions do you want to ask/look into? Potential revenue, approximate cost, the customer base, risks, and timeline.
What questions do you need to put time and effort into in order to obtain the answers? Potential revenue, approximate cost, the customer base, risks. and timeline.
Conduct ______, analyze _____, and build a ________ _____ that justifies the project. Research, Results, Business Case.
What must your Business Case establish? That the project will provide benefits and value.
Build a Business Case that explores and ______ the business need and identifies potential _______ and _____. Justifies, Benefits, Value.
Who authorizes a Project? Project Sponsors, or Executive Sponsors.
Who is accountable for enabling success? Project Sponsor/Executive Sponsor.
In small businesses, who usually has the Project Vision? Project Sponsor/Executive Sponsor.
In larger businesses, __________ closer to the project will have the Project Vision, while a ________ _________ supports and provides the resources for it. Stakeholders, Project Sponsor (Executive Sponsor).
_______ _________ formalizes/refines the vision into a Project Vision. Project Manager.
The ______ ______ documents the project vision and authorizes the project and provides the project manager with authority to apply organizational _______ to project activities. Project Charter, Resources.
What is a Project Sponsor? Individual or group that provides resources and support for a project, program, or portfolio, and is accountable for enabling success.
What is a Business Analyst? An external consultant, company partner, or other individual. Should be able to offer much of the information the project manager or team needs to start planning and working!
What is a Project Vision Statement? A concise, high-level description of the project that states the project's purpose and inspires the team to contribute to the project.
What is a Project Charter? Document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
What is a List of Stakeholders? An individual, group, or organization that may affect, be affected by, or perceive to be affected by a decision, activity, or outcome of a project, program, or portfolio.
What is a Business Case? It identifies business needs, including the proposed benefits and value, feasibility study, cost/benefit analysis, and more.
What are Measurable Strategic Objectives? Any objectives that can be quantified, i.e. objective key results, key performance indicators, and so on.
When initiating a Project, what do you start with? A Project Vision Statement.
What is the second step in initiating a Project? Project Charter.
What do you need in order to write a Project Charter? A Project Sponsor (Executive Sponsor), the Stakeholders, the Business Case, the Measurable Strategic Objectives, and how the project will meet them.
The last step of initiating a Project is what? Get the project formally authorized and name a project manager.
What does it mean to formally authorize a Project? A project names a Project Manager, and the role has the authority to apply organizational resources to project activities.
Why is the Stakeholder participation critical for developing business cases for projects? Stakeholders can provide the needs and requirements for the business case.
Contributions from _________ are significant. By engaging with them, the _________ ________ will have gained a broad understanding of their needs and requirements. Their perspective influences the _________ ______. Stakeholders, Business Analyst, Business Case.
Created by: user-2058010
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