Practice Questions for IFMA FMP Project Management Module Exam

The primary objective of project management in facility management is to ensure that projects are completed on time, within budget, and to the required quality standards while meeting the needs and expectations of stakeholders.

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The five phases of project management according to the PMBOK Guide are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

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A project charter is a document that formally authorizes a project and provides a high-level overview of its objectives, scope, stakeholders, and key deliverables. It is important because it serves as a reference point throughout the project and ensures that everyone involved understands the projects goals and constraints.

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A stakeholder in project management is any individual, group, or organization that can affect or be affected by the outcome of a project. Stakeholders include project team members, customers, sponsors, and other parties with an interest in the project.

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A Work Breakdown Structure (WBS) is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the deliverables. It breaks down the project into smaller, more manageable components.

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Scope creep refers to the uncontrolled expansion of project scope without adjustments to time, cost, and resources. It can be managed by clearly defining the project scope in the project charter, obtaining formal approval for any changes, and maintaining strict change control procedures.

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A Gantt chart is a visual project management tool that displays the project schedule, showing the start and finish dates of project elements and the relationships between tasks. It helps in tracking progress and ensuring that the project stays on schedule.

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The Critical Path Method (CPM) is a project management technique used to determine the sequence of activities that directly affect the project completion time. It identifies the longest path of dependent activities and calculates the minimum project duration.

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