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.
