CAPM Exam 2024
What is the main purpose of a Project Charter? correct answer Formally authorizes the
existence of a project and documents the project vision
Project Sponsor (Executive Sponsor) correct answer -Person who provides the authorization,
support, and funding for a project, program, or portfolio.
-They are accountable for enabling success
What is a Project Charter? correct answer -Document issued by the project initiator/sponsor
that formally authorizes the existence of a project.
-Authorizes the project manager to apply organizational resources to project activities.
Project Vision Statement correct answer A high level description of a project that states the
purpose and inspires the team to contribute to the project
List of Stakeholders correct answer An individual, group, or organization that may affect, be
affected by, or perceive itself to be affected by a decision, activity, or outcome of a project,
program, or portfolio.
Business Case correct answer Tool or document that identifies the business needs (proposed
benefits ad value, feasibility study, cost/benefit analysis, etc.)
What are the 3 Project Management Approaches? correct answer 1. Predictive Life Cycle
(planned entirely from beginning)
2. Adaptive Life Cycle (planned as the project progresses)
3. Hybrid Approach (combination of the above 2)
What are the 6 benefits of project management? correct answer 1. Success
2. Satisfaction
3. Efficiency
