Project Management Fundamentals Flashcards
7 cards from real GMC practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 7 Project Management Fundamentals flashcards as text
A growth project manager needs to communicate bad news about a missed KPI to senior leadership. Which communication approach is most appropriate?
Answer: Report the issue promptly with context, impact, and a proposed mitigation plan
Transparent, timely communication with context and a remediation plan builds trust and allows leadership to make informed decisions.
What distinguishes a 'project' from 'operations' in a growth marketing context?
Answer: Projects are temporary with a defined end, while operations are ongoing and repetitive
Projects are temporary endeavors with a unique outcome and defined start/end, whereas operations are ongoing, repetitive business activities.
A growth team uses a 'parking lot' during meetings. What is its purpose?
Answer: To capture important but off-topic items for discussion at a more appropriate time
A parking lot captures valuable discussion topics that arise but are off-agenda, ensuring they're addressed without derailing the current meeting.
Which risk response strategy is being used when a growth team purchases insurance for a major product launch event?
Answer: Risk transfer
Risk transfer shifts the financial consequence of a risk to a third party (e.g., insurer) without eliminating the risk itself.
In a growth marketing OKR framework, what does a 'Key Result' represent?
Answer: A measurable outcome that tracks progress toward an Objective
Key Results are specific, measurable outcomes that indicate how progress toward an Objective will be tracked and assessed.
What is the 'float' (or slack) of a task in project scheduling?
Answer: The amount of time a task can be delayed without delaying the project completion date
Float (or slack) is the flexibility in scheduling a non-critical task without pushing back the overall project end date.
A growth marketing team is adopting a hybrid project management approach. What does this typically mean?
Answer: Combining elements of predictive (waterfall) and adaptive (agile) methodologies
A hybrid approach blends structured planning from waterfall with the flexibility and iteration of agile to suit specific project needs.