Project Governance and Compliance Flashcards
7 cards from real Project Management practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Project Governance and Compliance flashcards as text
A project manager is managing a government contract that requires specific documentation be retained for seven years after project closure. This is an example of:
Answer: Records retention compliance requirement
Government contracts frequently impose records retention requirements that are legal compliance obligations the project and organization must meet long after closure.
In a matrix organization, a project manager disagrees with a functional manager's resource allocation decision that violates project governance policy. What should the PM do?
Answer: Escalate through the established governance channel (e.g., PMO or sponsor)
In a matrix organization, governance conflicts between project and functional authority should be escalated through the defined governance structure, such as the PMO or project sponsor.
Which of the following BEST describes the concept of 'tone at the top' in project governance?
Answer: Senior leadership modeling and reinforcing ethical and compliance behavior that cascades through the organization
Tone at the top refers to the culture and behaviors demonstrated by senior leaders, which strongly influences how governance and ethics are practiced throughout the organization.
A project manager learns a team member has been falsifying progress reports. What is the MOST appropriate immediate response?
Answer: Document the situation and escalate to the appropriate authority per organizational policy
Falsifying reports is a serious ethics and governance violation that must be documented and reported through proper channels, regardless of project status.
A Change Control Board (CCB) is BEST described as:
Answer: A formally chartered group authorized to review, evaluate, approve, defer, or reject changes to the project
The CCB is a governance body with explicit authority to make binding decisions on change requests affecting project baselines.
SOX (Sarbanes-Oxley Act) compliance affects IT projects in publicly traded US companies primarily by requiring:
Answer: Strong internal controls, audit trails, and accountability for financial reporting systems
SOX mandates rigorous internal controls and audit trails for systems that support financial reporting, significantly affecting IT project governance in public companies.
When a project closes, what governance activity ensures the organization captures and applies lessons about compliance performance?
Answer: Lessons learned documentation and organizational process asset updates
Lessons learned documentation captures what worked and what failed in compliance management, feeding those insights back into organizational process assets for future projects.