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Question of the Day
The functional manager and Project Manager are arguing about the project management plan and what is needed to create it, as the functional manager is short on resources. Which of the following is the best to create the project management plan?
A) Project ManagerB) Project Manager and team
C) Team
D) Sponsor
Terminology of the Day
Net Present Value (NPV)
A process to calculate the anticipated net monetary gain (or loss) from a project by discounting future cash inflows and outflows to the current point in time
Answer and Explanation to Yesterday's Question
A construction project has just completed the initiation process. Planning is getting ready to begin. Which of the following have the project team just completed and which are they getting ready to start?
A) The project management plan and project execution
B) The charter and project planning (Correct)
C) The project execution and monitoring & controlling
D) The charter and project execution
Explanation: The Project Management Life Cycle is Initiating, Planning, Executing, Monitoring and Controlling, and Closing. The main output of initiation is the creation of a Charter. Once this is done, the creation of the project management plan can start. The other answers are either out of sync with the life cycle or are noise.
For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at http://www.crosswindpm.com/
TEST PRODUCT AD SECTION
PgMP Exam Review Processes Placemat
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This 11” by 17” color processes laminated poster/placemat illustrates the nine knowledge areas, and process interaction as defined by the PMI Program Management Standard in a graphic format to help with quick retention. This serves as a valuable reference for program managers, project managers and team members to know how the program and projects are working together. The user can also make notes and drawing on the dry-erase laminated surface. |