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Question:

You are operating on the risk management plan for your current project and need to record how the risk activities will be recorded for the advancements of future projects. Which part of the risk management plan addresses these issues?

A Tracking

explanation

Tracking includes a description of how you’ll document the history of the risk activities for the current project and how the risk processes will be audited. This section of the risk management plan is also helpful for lessons learned.

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Roshoud is working as the project sponsor for a high-visibility project within the Galactic Kidz corporation. During a weekly executive status conference, he concerns the quality assurance and requests an update. What is the most concerned with quality assurance?

Using processes effectively and assuring stakeholders that the end result will meet their needs

According to the PMBOK® Guide, quality assurance is most concerned with using project processes effectively. This includes assuring stakeholders that the end result of the project will meet their needs and expectations.

Which of the following project management documents records challenges, problems, realized risks, and opportunities?

Lessons learned register

The lessons learned register, created out of the Manage Project Knowledge process, records information about situations that have occurred within the project, including recording challenges, problems, realized risks and opportunities, and other information relevant for future reference. While “project documents” is a technically accurate answer, “lessons learned register” is a more specific answer.

The project team recently participated in a working session to determine the costs connected with individual activities. To generate a more accurate estimate, they divided each activity further into smaller chunks. What will this activity produce?

Cost estimates

The project team is participating in bottom-up estimating, which will produce activity cost estimates. This activity is associated with the Estimate Costs process. Basis of estimates may also be generated through this session; cost estimates, however, are the primary end outcome of the activity.

Which of the following describes who is responsible for the quality assurance of the project?

Project team members, project manager, and stakeholders

The project team members, project manager, and the stakeholders are all equally responsible for the quality assurance of the project.

Which of the following best describes how Planning activities are presented in a highly adaptive (Agile) life cycle?

Progressive elaboration of scope is based on continuous feedback.

In an Agile life cycle, Planning activities involve the progressive elaboration of scope, based on continuous feedback from stakeholders.

Which of the following solutions should you take when you want to improve your estimates and account for risk and estimation uncertainty?

Three-point estimating

Three-point estimating is the technique to use when you want to improve your estimates and account for risk and estimation uncertainty.

Reasons to Lyv is the top customer of a large marketing company. Trudy is the president of Reasons to Lyv and has decided to debut a product that leverages new GPS tracking technology. She discusses with Roy, the project manager on the project, to review and measure whether a sufficient amount of funds maintains to solve known risks. What activity are they using?

Reserve analysis

Reserve analysis is a data analysis technique of the Monitor Risks process. Reserve analysis compares the amount of contingency reserve remaining to address the risk that remains. Contingency reserves (used to deal with known risks) are considered part of the project budget, while management reserves (used to deal with unknown risks) are not.

Which of the following is correct?

There are five project management process groups, and they are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

The PMBOK® Guide describes 49 project management processes that can be grouped in five: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Contract stages are closely related to the Project Procurement Management Knowledge Area processes. Select three correct answers of the following statements:

The requirement stage, which establishes the project and contract needs, is related to the Plan Procurement Management process.

The award stage, where the contract is awarded, is related to the Conduct Procurements process.

Two of the outputs of the Plan Procurement Management process are inputs to the Conduct Procurements process.

The requisition stage is where the procurement documents are prepared (not the Procurement Management process. The two outputs that become inputs are procurement documentation and source selection criteria.

Sue leads a PMO that is in the process of changing the organization from exploiting predictive to more adaptive approaches to distribute project outcomes. During an Agile training period for her organization, a team member asks, “How many people are on a project team?”
What answer is Sue likely to provide?

3–9.

Which of the following best presents appraisal costs?

Costs expended to examine the product or process and make certain the requirements are being met

Appraisal costs are associated with the cost of quality and are the costs expended to examine the product or process and make certain the requirements are being met. Inspection and testing are examples of appraisal costs.

Projects that mix elements of different life cycles to obtain a specific goal are said to practice what type of project life cycle?

Hybrid

Hybrid life cycles combine elements of different life cycles to achieve a certain goal. A hybrid approach may contain a combination of iterative, predictive, incremental, and/or Agile approaches.

The project processes are iterative, are results oriented, and communicate with each other. Shewhart and Deming developed a concept that reflects this idea. What is this cycle called?

Plan-Do-Check-Act

The Plan-Do-Check-Act cycle was developed by Shewhart and later refined by Deming. It reflects the iterative, results-oriented, and interactive nature of the project process groups.

What technique does Carina take?

Reserve analysis

Reserve analysis is a technique used as part of the Control Costs and Monitor Risks process. This technique involves the analysis of how much reserves have been consumed to date and whether sufficient reserves remain to address current and future risks.

A Scrum master facilitates a monthly period with the team to discuss what went well in the latest sprint, what could have improved, and what they will commit to going better in the upcoming sprint. This discussion is referred to as a:

Sprint retrospective

A sprint retrospective is held at the end of an iteration/sprint to identify what the team learned and what did not. The intent is to continue improving the overall process so that the team continues to become more effective as a unit.