Free Practice Questions for GAQM PPM-001 Exam

Risk identification is a critical process in project management, aiming to pinpoint potential opportunities and threats that could affect a project’s objectives. The methods for identifying risks are diverse and can include HAZOP analysis, which is a structured and systematic technique used to identify potential hazards in processes1. Consulting with experts is another method where subject matter experts share their knowledge to ensure project deliverables meet the needs of stakeholders and comply with standards2. Interviewing people within the organization is also a valuable method as it can provide insights into potential risks from those who are closely involved with the project’s operations3.

References:

Project Management Institute (PMI) standards and publications.

HAZOP analysis resources1.

Articles and resources on the role of subject matter experts in project management2.

Resources on project management interviews and risk identification3.

 The phases of the project life cycle according to the PMBOK Guide (Project Management Body of Knowledge) by the Project Management Institute (PMI) are as follows:

Project Initiation: This is where the project is defined and authorized.

Project Planning: Detailed planning occurs, outlining how the project will be executed.

Project Execution: The project plan is put into motion and the work required is performed.

Project Monitoring and Controlling: This phase involves tracking the project’s progress and performance to ensure that everything aligns with the plan.

Project Closure: In this final phase, the project is formally closed and the final product is handed over.

It’s important to note that while the option C does not use the exact terminology from the PMBOK Guide, it closely represents the correct sequence of phases in the project life cycle.

References: = The information is verified as per the PMBOK Guide’s description of the project management life cycle phases123.

The claim that a survey of Yale graduates found that only 3% set goals and that this 3% was more successful than the other 97% combined is a widely circulated myth. There is no evidence of such a study ever being conducted at Yale or Harvard. The story has been debunked by various sources, including Yale University itself, which has confirmed that no such study took place12.

References: = The information can be verified by the articles that discuss the myth and its origins, such as the one from beyondtherut.com1 and the Yale University Library’s FAQ section2.

This statement, often cited in motivational speeches and personal development literature, lacks solid empirical evidence to back it up. The story about the Yale study on goal setting and the success of its graduates has been widely circulated but has been debunked as an urban legend. There's no denying that goal setting is an important aspect of personal and professional development, but this specific claim regarding the Yale study is not supported by documented research.

  Shared leadership, where leadership responsibilities are distributed among team members rather than centralized in a single leader, can have several disadvantages. Some groups indeed require more direction and benefit from having a central figure of authority to guide them (Option A). Additionally, in certain contexts, a central leader is necessary to help a group reach its full potential by providing vision and decisive action (Option B). Furthermore, shared leadership can sometimes lead to slower decision-making processes because it involves more individuals in the decision-making process, which can complicate consensus-building (Option C). Therefore, all of the above options are possible disadvantages of shared leadership.

The statement is false. Sponsors and executives play a crucial role in the success of a project. They are not only responsible for defining the project’s goals and ensuring alignment with the company’s strategy but also for providing guidance, resources, and support to the project team12. It is the project manager’s responsibility to engage with sponsors and executives actively, seeking their input and ensuring their expectations are met. This collaborative approach is essential for the project’s success, as sponsors and executives possess the authority to navigate organizational politics, secure funding, and facilitate communication across various departments23.

References:

Asana’s article on "What is a Project Sponsor? Role and Duties"1.

Villanova University’s explanation of the "Executive Sponsor Role in Project Management"2.

Capterra’s guide on "A Project Manager’s Guide to the Executive Sponsor Role"3.

 Communication encompasses a wide range of behaviors and methods for transferring information. It includes verbal exchanges between people, written messages like memos, and non-verbal cues such as the barking of a dog. Each of these examples involves the imparting or exchanging of information, which is the essence of communication. This concept is supported by the definition of communication in project management and other professional contexts, where it is understood as the act of transferring information from one place, person, or group to another1.

References: = The definition and examples of communication align with the principles outlined in the Professional in Project Management (PPM) materials and are consistent with standard definitions found in resources such as SkillsYouNeed and Google dictionary, as mentioned in the guide to portfolio communication1.

 Team contracts continue to be a relevant and valuable tool in project management. They serve as a means to link management, sponsors, and core teams into a cohesive unit, often referred to as a “superteam.” These contracts help in clarifying communication, setting expectations, and aligning the team towards common goals, which is crucial for the success of any project. The use of team contracts can simplify project tracking and progress reporting, and they are instrumental in integrating project planning, execution, and change management across various project phases12. References: Project Management

During the Storming stage of team development, team members start to push against the boundaries established during the Forming stage. This is where conflicts can arise due to differences in opinions on how goals should be accomplished. Personalities may clash as team members work through their differences and learn to work together effectively. It’s a critical phase where teams often deal with struggles for power and leadership, as well as disagreements about strategies and processes123. References: The characteristics of the Storming stage are well-documented in project management literature, including Tuckman’s model of group development and materials related to Professional in Project Management (PPM)123.

 In the context of project management, the ‘T’ in the SMART acronym stands for ‘Time-bound’. This means that any goals set within a project should have a clear timeline or deadline. This aspect of the SMART criteria ensures that there is a sense of urgency and a deadline to work towards, which helps in planning and executing the project effectively1. References: = Wrike’s guide on SMART in Project Management1.