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CAPM Practice: Demonstrate an understanding of the various project life cycles and processes

Question 15 of 95 in Demonstrate an understanding of the various project life cycles and processes

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Match each project management concept on the left with its correct description on the right. Items: 1. Portfolio 2. Program 3. Project 4. Operations Which option correctly matches each item to its description?
Show answer & explanation

Correct answer: 1. Portfolio → A collection of projects, programs, and operational work managed as a group to achieve strategic objectives 2. Program → A group of related projects managed together to obtain benefits not available from managing them individually 3. Project → A temporary endeavor undertaken to create a unique product, service, or result 4. Operations → Ongoing work that sustains the business through repetitive processes

Explanation

A portfolio is the highest level grouping aligned to strategy, containing programs, projects, and operations. A program groups related projects for coordinated benefits. A project is temporary work creating unique deliverables. Operations are ongoing repetitive activities that sustain business functions.

**Why not A:** This option assigns ongoing repetitive work to portfolio, a program definition to program (partially correct), a project definition to project (correct), but then assigns the portfolio definition to operations. Portfolio is the highest-level grouping aligned to strategy, not ongoing repetitive work.

**Why not B:** This option assigns the project definition to portfolio, the operations definition to program, the portfolio definition to project, and the program definition to operations. All four pairings are incorrect, with each concept matched to the wrong description.

**Why not C:** This option assigns the program definition to portfolio, the project definition to program, the operations definition to project, and the portfolio definition to operations. All four items are mismatched, swapping every concept with an incorrect description.

Key Concept

This question covers Demonstrate an understanding of the various project life cycles and processes under Demonstrate an understanding of the various project life cycles and processes (Project Management Fundamentals and Core Concepts).

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