PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM LATEST 2024 ACTUAL EXAM 80 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)

PROJECT MANAGEMENT MODULE (IFMA FMP)
EXAM LATEST 2024 ACTUAL EXAM 80
QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED ANSWERS)



What is NOT a common reason for project failure - lack of project managers' professional certification

what is the project management body of knowledge (PMBOK): - generally accepted set of principles and practices for project management

true or false: a methodology provides a systematic way to plan, manage, and execute projects - true

poorly defined roles is an example for project failure in the following category: - people

tyler, a project manager, decides to build the product before the plan is approved in order to reduce the schedule. This decision is called: - fast tracking

true or false: breaking a project down into phases increases the complexity and project risk: - false

which of the following is NOT an example of using the project management approach to increase the project success likelihood? - involving the business user

true/false: project methodology is a game plan for implementing project and product lifecycles - true

which of the following are advantages of following a good project methodology: - 1. past, present and future projects can be compared with confidences in terms of planning and progress reporting, 2. valuable time can be saved because approaches, tools, techniques and templates can be reused across projects, 3. stakeholders understand their roles, and these roles can be applied to future projects, 4. project team can focus on the product or system without having to debate how the work is to be done

true/false: project has a measurable organizational value, MOV defines the project's goal - true

in which project lifecycle phase does the system development life cycle (SDLC) occurf - execute project

which of the following is not a project objective in support of the MOV - organization's mission

conceptualizing the purpose or goal of the project happens at what phase of the project life cycle - define project goal

chris is a project manager of an IT project, which aims to enhance market share of the organization's flagship product. This product's area of impact is - strategic

Which of the following are advantages of forming a cross-functional business case team? - credibility, agreement on data, assumptions, methods, access to real cost

A project is a ___ endeavor to create a unique product, service or result - temporary

Project priorities are defined by the - sponsor

Which of the following is NOT an example for organizational value of an IT project? - higher capacity parking lot

IT projects are organizational_________ for which they expect some type of ________ in return - investments, value

Which of the following is NOT an example of an IT project - The use a newly implemented CRM system

Which of the following are the common phases or stages shared on most projects: - execute project plan, close project, plan project, evaluate project, define project goal


What are the possible options when identifying alternatives of an approach in a business case - purchasing an off the shelf application package from a software vendor, maintain status quo, change existing process without investing in IT, custom building a new application using internal resources or outsourcing the development to another company

which of the following is not a characteristic of the projects MOV - must be approved

Which of the following types of costs are included in total cost of ownership (TCO)? - ongoing costs, indirect costs, direct or up front costs