Which output is the approved version of the time-phased project budget?
Answer(s): D
A project budget includes all the funds authorized to execute the project. The cost baseline is the approved version of the time-phased project budget, but excludes management reserves.7.3.3.1 Cost BaselineThe cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can only be changed through formal change control procedures and is used as a basis for comparison to actual results. It is developed as a summation of the approved budgets for the different schedule activities.
The purpose of the Project Communications Management Knowledge Area is to:
10. Project Communications ManagementProject Communications Management includes the processes that are required to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and the ultimate disposition of project information.
Processes in the Initiating Process Group may be completed at the organizational level and be outside of the project's:
Answer(s): A
At the completion of a project, a report is prepared that details the outcome of the research conducted on a global trend during the project. Which item did this project create?
Power, urgency, and legitimacy are attributes of which stakeholder classification model?
13.1.2.1 Stakeholder AnalysisStakeholder analysis is a technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests, expectations, and influence of the stakeholders and relates them to the purpose of the project. It also helps to identify stakeholder relationships (with the project and with other stakeholders) that can be leveraged to build coalitions and potential partnerships to enhance the project’s chance of success, along with stakeholder relationships that need to be influenced differently at different stages of the project or phase.Stakeholder analysis generally follows the steps described below:Identify all potential project stakeholders and relevant information, such as their roles, departments, interests, knowledge, expectations, and influence levels. Key stakeholders are usually easy to identify. They include anyone in a decision-making or management role who is impacted by the project outcome, such as the sponsor, the project manager, and the primary customer. Identifying other stakeholders is usually done by interviewing identified stakeholders and expanding the list until all potential stakeholders are included.Analyze the potential impact or support each stakeholder could generate, and classify them so as to define an approach strategy. In large stakeholder communities, it is important to prioritize the stakeholders to ensure the efficient use of effort to communicate and manage their expectations.Assess how key stakeholders are likely to react or respond in various situations, in order to plan how to influence them to enhance their support and mitigate potential negative impacts. There are multiple classification models used for stakeholders analysis, such as:Power/interest grid, grouping the stakeholders based on their level of authority (“power”) and their level or concern (“interest”) regarding the project outcomes;Power/influence grid, grouping the stakeholders based on their level of authority (“power”) and their active involvement (“influence”) in the project;Influence/impact grid, grouping the stakeholders based on their active involvement (“influence”) in the project and their ability to effect changes to the project’s planning or execution (“impact”); andSalience model, describing classes of stakeholders based on their power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate).
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