Aretail chain is evaluating a project to replace payment systems across all its stores in multiple locations. The project does not pass the financial threshold but is alsoexpected to increase marketshare, improve customer services, and retain more customers. The project is planned as a phased implementation, building on learningfromthe retrospectives during each phase.
How should the business increase the value of the project?
Correct Answer:
C
= The business should increase the value of the project by quantifying the expected tangible and intangible benefits in the benefits management plan for each phase. This will help to justify the project investment and align the project outcomes with the business objectives. The benefits management plan should also include the benefits owner, the target benefits, the metrics and assumptions, the timeframe, and the roles and responsibilities for benefits realization. Asking the benefits owner to reassess the risks, consulting with experts, or using a fishbone diagram are not the best ways to increase the value of the project, as they may not capture the full range of benefits or address the root cause of the low financial value. References:
✑ PMBOK® Guide 7th Edition, Chapter 10: Value Delivery, Section 10.2: Plan Value Delivery, Page 263
✑ PMBOK® Guide 6th Edition, Chapter 4: Integration Management, Section 4.5: Develop Project Management Plan, Page 89
✑ Agile Practice Guide, Chapter 3: Implementing Agile: Creating an Agile Environment, Section 3.5: Benefits Management, Page 43
A project team began working on a complex project that involves new technology as a product. The team is new to the technology and the proposed approach. Additionally, the customer is apprehensive about how the product will be received in the market.
What should the project manager do to help the team and the customer?
Correct Answer:
A
According to the PMBOK Guide, 6th edition, page 18, a minimum viable product (MVP) is a product that has just enough features to satisfy early customers and provide feedback for future development. By identifying the MVP, the project manager can help the team and the customer to test the assumptions and hypotheses about the new technology and the proposed approach, and to learn from the feedback and data collected. This way, the project manager can reduce uncertainty and risk, and increase customer satisfaction and value delivery. References:
✑ PMBOK Guide, 6th edition, page 18
✑ Top 60+ PMP Exam Questions and Answers for 2023 - KnowledgeHut
Due to organizational changes, several key stakeholders are replaced by new ones in the middle of a project. As a result, numerous new requirements are raised.
What should the project manager do to ensure success of the project?
Correct Answer:
B
According to the PMBOK® Guide 7th Edition, the project manager should manage changes in a collaborative and adaptive way, considering the impact of the changes on the project value and the stakeholder satisfaction. The project manager should also engage with stakeholders to understand their needs and expectations, and to ensure alignment and agreement on the project scope and objectives. Therefore, the project manager should review and prioritize new requirements with stakeholders to determine which change requests are needed, and how they can be implemented without compromising the project success. Option A is incorrect because it implies that the project manager is resisting the changes and trying to avoid the stakeholder engagement. Option C is incorrect because it suggests that the project manager is ignoring the stakeholder needs and imposing a rigid scope control. Option D is incorrect because it assumes that the project manager can seek immediate approval to amend the project timeline and budget without analyzing the feasibility and the value of the new requirements. References: PMBOK® Guide 7th Edition, Chapter 3: Doing the Work, Section 3.2: Managing Changes, p. 51-52.
A project interfaces with other projects that are in the same portfolio but are being developed in international locations. One ofthe international projects hassuggested a tactical change that needs to be implemented in this project.
What should the project manager do next?
Correct Answer:
C
The change control process is a set of procedures that ensures that any proposed changes to the project scope, schedule, cost, quality, or other aspects are evaluated, approved, and implemented in a controlled and coordinated manner. The project manager should follow this process when receiving a change request from another project, regardless of its origin or urgency. The project manager should also keep the focus on the priority items while the change is being assessed, as not to disrupt the project progress or performance. The other options are not appropriate, as they either ignore the change request, bypass the change control process, or rely on informal communication channels. References: PMBOK Guide, 7th edition, page 112-113.
A project team is working to deliver a solution to manage nationwide crisis relief operations.
The project team is spending most of its time in meetings with end users. The meetings have been slowing down project progress. What should the project manager do to keep the deployment on track while obtaining stakeholder approval?
Correct Answer:
A
According to the PMBOK Guide 7th Edition, one of the principles of project management is to optimize stakeholder value. This means that the project manager should understand and balance the needs and expectations of the stakeholders, and deliver solutions that create value for them. To optimize stakeholder value, the project manager should put all of the requirements, priorities, and progress on a visible board, share it with all entities, and decrease the number of meetings. This will help to communicate the project information clearly and transparently, to align the stakeholder expectations and feedback, and to reduce the waste and inefficiency caused by excessive meetings. Asking the project sponsor to attend the meetings, informing the stakeholders about a daily meeting, or stopping attending meetings are not the best actions, as they do not address the root cause of the problem, which is the lack of effective and efficient communication and collaboration among the project team and the end users. References: PMBOK Guide 7th Edition, page 12-13.
