Which of the following is the PRIMARY requirement before choosing Key performance indicators of an enterprise?
Answer(s): D
Key Performance Indicators is a set of measures that a company or industry uses to measure and/or compare performance in terms of meeting their strategic and operational goals. KPIs vary with company to company, depending on their priorities or performance criteria.A company must establish its strategic and operational goals and then choose their KPIs which can best reflect those goals. For example, if a software company's goal is to have the fastest growth in its industry, its main performance indicator may be the measure of its annual revenue growth.Incorrect Answers:A: Determination of size and complexity of the enterprise is the selection criteria of the KRI, not KPI. KPI does not have any relevancy with size and complexity of the enterprise.B: This is not the valid answer.C: Type of market in which the enterprise is operating do not affect the selection of KPIs.
You are the project manager of project for a client. The client has promised your company a bonus, if the project is completed early. After studying the project work, you elect to crash the project in order to realize the early end date. This is an example of what type of risk response?
Answer(s): C
Judy has identified a risk event in her project that will have a high probability and a high impact. Based on the requirements of the project, Judy has asked to change the project scope to remove the associated requirement and the associated risk. What type of risk response is this?
Risk avoidance involves changing the project management plan to eliminate the threat entirely. The project manager may also isolate the project objectives from the risk's impact or change the objective that is in jeopardy. Examples of this include extending the schedule, changing the strategy, or reducing the scope. The most radical avoidance strategy is to shut down the project entirely. Some risks that arise early in the project can be avoided by clarifying requirements, obtaining information, improving communication, or acquiring expertise.Incorrect Answers:A: Exploit risk response is used for positive risk or opportunity, not for negative risk.B: This risk response does require a change request, in some instances, but it's the avoidance risk response and not just a change request.D: Transference allows the risk to be transferred, not removed from the project, to a third party. Transference usually requires a contractual relationship with the third party.
You are the risk professional of your enterprise. You have performed cost and benefit analysis of control that you have adopted. What are all the benefits of performing cost and benefit analysis of control? Each correct answer represents a complete solution. Choose three.
Answer(s): A,C,D
You are the project manager of GHT project. You want to perform post-project review of your project. What is the BEST time to perform post-project review by you and your project development team to access the effectiveness of the project?
Answer(s): A
The project development team and appropriate end users perform a post-project review jointly after the project has been completed and the system has been in production for a sufficient time period to assess its effectiveness.Incorrect Answers:B: The post-project review of project for accessing effectiveness cannot be done during the project as effectiveness can only evaluated after setting the project in process of production.C: It is not done immediately after the completion of the project as its effectiveness cannot be measured until the system has been in production for certain time period.D: Post-project review for evaluating the effectiveness of the project can only be done after the completion of the project and the project is in production phase.
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