Choose the best definition of business value?

When participating in a new organization, what must a new project manager do to be effective?

Assess the organization’s culture

When joining a new organization, it is important that a project manager familiarize themselves with the organization’s culture. Understanding how the organization operates, its tolerance level, and its appetite for risk, among other things, is important to tailoring the project management approach.

Project selection methods might contain all of the following except which one?

Alternatives analysis

Project selection methods include benefit measurement methods and mathematical models (also known as constrained optimization methods). Benefit measurement methods might include cost-benefit analysis and cash flow analysis.

Which environmental factor should you draw close attention to when carrying out the Identify Stakeholders process?

Company culture and organizational structure

Examples of enterprise environmental factors that are used in the Identify Stakeholders process are company culture, organizational structure, governmental or industry standards, global trends, and geographic locations of resources and facilities. The other options included are organizational process assets.

Which of the following influences the practice of Agile approaches?

Organization’s culture

An organization’s culture heavily influences the by project teams and how Agile approaches are used. For example, startup environments tend to operate in a lean fashion, opting to fail fast and iterate to produce results quickly.

As a value maintained by the project management community, honesty entails which of the following?

Truthful reporting

Honesty can include a lot of topics: reporting the truth regarding project status, being honest about your own experience, not deceiving others, not making false statements, and so on. As a project manager, you are responsible for truthfully reporting all information in your possession to stakeholders, customers, the project sponsor, and the public when required.

One of your team members, a fellow PMP credential holder, is under investigation for violation of the Code of Ethics and Professional Conduct. What action should you do?

Cooperate fully with the investigation.

Part of the Code of Ethics and Professional Conduct requires that you cooperate in any investigation concerning ethics violations and in collecting information related to the violation.

Which of the following is correct?

You are working in a weak matrix organization and are in the Executing phase of the project.

The title of project coordinator indicates this is a weak matrix organization and that you are working within one of the business units rather than under the PMO (as you would if you were in a strong matrix organization). The question also states that the work of the project has begun, so you are in the Executing phase of the project.

Select three types of PMOs?

Directive

Supportive

Controlling

According to the PMBOK® Guide, the three types of PMOs are directive, supportive, and controlling.

A project manager is putting together the project charter and is interested in referencing marketplace conditions to understand the conditions surrounding the project. What is a valid input that the project manager can reference to obtain this information?

Enterprise environmental factors

Enterprise environmental factors are the factors both internal and external to the organization that can influence the project. Marketplace conditions is one example, as are organizational culture, structure, and governance. Enterprise environmental factors is a frequent input of the project management processes.

Projects may come about as a consequence of which of the following?

Needs and demands

According to the PMBOK® Guide, most projects fit one of seven needs and demands that result in their creation: market demand, organizational need, customer request, technological advance, legal requirement, ecological impacts, or social need.

What brings together a set of tools and techniques to describe, organize, and monitor the work of project activities?

Project management

Project management is defined as the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

As part of project integration management activities, a project manager reports on value gained to date against the plan. What does the project manager hope to achieve by carrying out this activity?

Appraise stakeholders of the project’s progress against the benefits management plan

The benefits management plan outlines the target benefits of the project and is used to measure both the tangible and intangible benefits. As part of project integration management activities, project managers should report progress against this plan to project stakeholders.

Select the action you should do?

Respectfully decline the gift and send back the tickets.

Don’t accept gifts that might be construed as conflicts of interest. If your organization does not have a policy regarding vendor gifts, set limits for yourself depending on the situation, the history of gift acceptance by the organization in the past, and the complexity of the project. It’s always better to decline a gift you’re unsure about than to accept it and later lose your credibility, your reputation, or your PMP status because of bad judgment.

Choose the components of a benefits management plan? (Select all that apply.)

Strategic alignment

Metrics

Target benefits

A benefits management plan describes how and when the benefits of a project will be delivered. It also describes what mechanisms should be in place to measure those benefits. Examples of key elements that make up a benefits management plan include target benefits, strategic alignment, timeframe for realizing benefits, benefits owner, metrics, assumptions, and risks. Business needs are captured within a business case.

A functional manager holds a celebration for the project team to reward them for a job well done that led to the achieved completion of a major project. It was clear to the project manager that the team was relaxed and enjoying themselves, with some sharing about upcoming vacation plans. What type of organizational model does the project team likely work within?

Weak matrix

Teams working in a weak matrix organization tend to experience the least amount of stress during the Closing processes. This is because, in a weak matrix organization, the functional manager assigns all tasks (project-related tasks as well) so the team members have a job to return to once the project is completed and there’s no change in reporting structure.

Choose the best definition of business value?

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