CAPM CAPM Project Closure & Benefits Realization 1 — Questions and Answers
Question 1: What is the primary purpose of the 'Close Project or Phase' process in the PMBOK Guide?
- To reassign team members to new projects
- To formally finalize all activities, transfer deliverables, and close out the project or phase (Correct answer)
- To update the risk register with final risk outcomes
- To archive only financial records for audit purposes
Correct answer: To formally finalize all activities, transfer deliverables, and close out the project or phase
Close Project or Phase finalizes all activities, ensures formal acceptance, transfers deliverables, and releases project resources.
Question 2: Which document formally confirms that the customer has accepted the project deliverables?
- Project charter
- Formal acceptance document (or signed acceptance) (Correct answer)
- Risk register
- Responsibility assignment matrix
Correct answer: Formal acceptance document (or signed acceptance)
A formal acceptance document, signed by the customer or sponsor, officially records that project deliverables meet requirements and are accepted.
Question 3: Benefits realization management is BEST described as:
- Tracking the project budget to ensure cost savings
- The processes that ensure the intended business benefits of a project are actually achieved (Correct answer)
- A quality assurance process for deliverable testing
- A method for calculating earned value metrics
Correct answer: The processes that ensure the intended business benefits of a project are actually achieved
Benefits realization management ensures that the outcomes a project was initiated to deliver are actually achieved and sustained after project completion.
Question 4: Which artifact captures the business benefits a project is expected to deliver and is often used to justify project initiation?
- Work breakdown structure
- Project management plan
- Business case (Correct answer)
- Procurement statement of work
Correct answer: Business case
The business case documents the justification for a project, including the expected benefits, which are later verified during benefits realization.
Question 5: During project closure, final project records and lessons learned are typically stored in:
- The risk register
- The organizational process assets (Correct answer)
- The stakeholder engagement assessment matrix
- The procurement documents only
Correct answer: The organizational process assets
Organizational process assets, including historical records and lessons learned repositories, are updated during project closure for future project use.
Question 6: What happens to unused project budget at the time of project closure under most organizational policies?
- It rolls over automatically to the next project phase
- It is returned to the organization or sponsor per governance rules (Correct answer)
- It is retained by the project manager for contingency
- It is added to the management reserve
Correct answer: It is returned to the organization or sponsor per governance rules
At project closure, unspent budget is typically returned to the performing organization or sponsor in accordance with financial governance policies.
CAPM CAPM Project Closure & Benefits Realization 1
What is the primary purpose of the 'Close Project or Phase' process in the PMBOK Guide?