CAPM Exam Questions and Answers | Exam-Dumps (Page: 44)

QUESTION: 216

Project Stakeholder Management focuses on:

project staff assignments
project team acquisition
managing conflicting interests
communication methods

Answer(s): C

Explanation:

PROJECT STAKEHOLDER MANAGEMENT
Project Stakeholder Management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution. Stakeholder management also focuses on continuous communication with stakeholders to understand their needs and expectations, addressing issues as they occur, managing conflicting interests and fostering appropriate stakeholder engagement in project decisions and activities. Stakeholder satisfaction should be managed as a key project objective

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QUESTION: 217

A risk that arises as a direct result of implementing a risk response is called a:

contingent risk
residual risk
potential risk
secondary risk

Answer(s): D

Explanation:

11.5.2 Plan Risk Responses: Tools and Techniques
Several risk response strategies are available. The strategy or mix of strategies most likely to be effective should be selected for each risk. Risk analysis tools, such as decision tree analysis (Section 11.4.2.2), can be used to choose the most appropriate responses. Specific actions are developed to implement that strategy, including primary and backup strategies, as necessary. A fallback plan can be developed for implementation if the selected strategy turns out not to be fully effective or if an accepted risk occurs. Secondary risks should also be reviewed. Secondary risks are risks that arise as a direct result of implementing a risk response. A contingency reserve is often allocated for time or cost. If developed, it may include identification of the conditions that trigger its use.

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QUESTION: 218

The purpose of developing a project scope management plan is to:

Manage the timely completion of the project.
Ensure that the project includes all of the work required.
Make sure the project will satisfy the needs for which it was begun.
Reduce the risk of negative events in the project.

Answer(s): B

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QUESTION: 219

A tool and technique used in the Develop Project Charter process is:

change control tools
expert judgment
meetings
analytical techniques

Answer(s): B

Explanation:

4.1.2.1 Expert Judgment
Expert judgment is often used to assess the inputs used to develop the project charter. Expert judgment is applied to all technical and management details during this process. Such expertise is provided by any group or individual with specialized knowledge or training and is available from many sources, including:
Other units within the organization, Consultants,
Stakeholders, including customers or sponsors, Professional and technical associations, Industry groups,
Subject matter experts (SME), and Project management office (PMO).

4.1.3.1 Project Charter
The project charter is the document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. It documents the business needs, assumptions, constraints, the understanding of the customer’s needs and high-level requirements, and the new product, service, or result that it is intended to satisfy, such as:
Project purpose or justification,
Measurable project objectives and related success criteria, High-level requirements,
Assumptions and constraints,
High-level project description and boundaries, High-level risks,
Summary milestone schedule, Summary budget, Stakeholder list,
Project approval requirements (i.e., what constitutes project success, who decides the project is successful, and who signs off on the project),
Assigned project manager, responsibility, and authority level, and
Name and authority of the sponsor or other person(s) authorizing the project charter.

Process: 4.1. Develop Project Charter
Definition: The process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Key Benefit: The key benefit of this process is a well-defined project start and project boundaries, creation of a formal record of the project, and a direct way for senior management to formally accept and commit to the project.

Inputs
1. Project statement of work
2. Business case
3. Agreements
4. Enterprise environmental factors
5. Organizational process assets

Tools & Techniques

1. Expert judgment
2. Facilitation techniques

Outputs
1. Project charter