Video: What You Should Know About Quantum Computing
In my previous article, I talked about all that you need to know about cybersecurity. In this article, I want to talk about some of the facts that you need to know about Quantum Computing. Follow me as we will look at that together in this video.
PS: I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
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The organisation is also expected to provide the emotional support necessary to sustain and grow a relationship which could imply putting customers’ needs and long-term relationships before personal short-term gain.
The customer also wants a consistent experience from the organisation that they are dealing with.
In order to provide a consistent experience, you must have a well-trained and knowledgeable workforce that believes that the customer is their priority, not those that treat customers like animals or beggars.
This involves making your employees accountable for every customer that is put in their care.
The organisation on the other hand needs to understand customers and their nature.
They should understand their present value and future state. They also have to understand that customers deserve preferential treatment more than others.
A CCE has a customer strategy that projects worthy brand promise, supported by superior products and services.
The organization tries to promote these quality products and services through designed marketing plans.
These are aimed at targeted customers through well-planned customer profiling and segmentation.
There is also the need for the organization to have a closed-loop feedback reporting system.
This is to make sure that the enterprise constantly meets its customer’s expectations in terms of service quality and customer experiences.
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One of the unique features of Customer-Centric Enterprise (CCE) is that they address all customer issues fully and resolve them completely.
What we are saying here is that a CCE will never treat a customer(s) complaints with kids’ gloves. They will always ensure that their customers are happy.
Also, CCE employees are empowered with authority and tools to resolve customer issues completely in a customer-centric organisation; customer-facing employees do not have to wait for their bosses before they can attend to customers’ complaints.
The customer database is made available to all the employees so that they can attend to any challenges being faced by their customers.
Above all, a customer-centric enterprise allows, its customers to interact with the organisation across multiple channels.
Customers have the independence of deciding the wag in which they wish to relate with the organisation.
Some might decide to walk in into any of the branch offices while some conduct their transaction online.
The hallmark of a CCE is that they stay with their customers all through. Their main driving force is not profit as it may not be forthcoming at the onset but the organization maintains its relationship with the customers through thick and thin.
We can say that a CCE is a company that focuses on customer satisfaction and places the customer at the centre of the company’s existence.
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CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
In the business world, a business can focus on any of the three areas available in the business world.
These are customers, products or channels. In the developed world, more organisations are now focusing on customers because businesses are now becoming more customer-focused because businesses are now becoming more customers driven.
This has been making organizations become more focused on customers as they can not afford to be left behind.
Here, we want to juxtapose customer-centric enterprises and product-centric enterprises in order to see their focus and their mode of operation.
In a product-centric enterprise, its focus is to increase its market share and control a large percentage of the market.
Employees in such organisations are not rewarded based on the number of new customers that they introduced but based on the volume of sales they are able to make.
This organisation view failure or progress in terms of its volume of sales in a particular year under review.
In a customer-centric enterprise on the other hand, less emphasis is placed on product as the organisation is more concerned about acquiring new customers and raising the exit barrier for their existing customers.
They always try to find avenues of increasing their customers’ experience so as to prevent losing customers to their competitors.
In a product-centric enterprise, the focus is placed on products. The organization is more concerned about ways of producing at a cheaper rate and increasing the profit margin.
They want to find better ways of convincing customers to buy their products so as to close deals at the shortest time possible.
On the other hand, a customer-centric enterprise is more concerned about increasing the profitability of its customers.
They are always looking for better ways of increasing their customer values and putting them at the centre of the organization’s existence.
In a product-centric enterprise, the organization is more concerned with churning out quality products so as to increase its market share.
They want to come up with quality products so as to force their competitors out of the market.
In a customer-centric enterprise, the organisation is more concerned about ensuring that its customers get the best out of their transactions with the organisation.
They ensure that customers’ issues and challenges are resolved completely.
SUMMARY So far in this article, we have looked at customer-centric enterprise and we came to the conclusion that it is aimed at making sure that organizational businesses are done from the customers’ perspective.
We also said that in a customer-centric enterprise, profit is not an immediate concern.
The organisation tries to delight its customer by coining us with products and services coupled with strategies that will make customers more loyal to the organisation.
This in turn will lead to more profits in the long run.
Above all, we said that a CCE always comes~ ~ with a superior brand promise, which is always supported with superior proc acts and services.
They also have to come up with marketing plans which are targ’t’2d at specific customers.
In a CCE, customers have to be treated differently. Profitable customers are given more preferential treatment than nominal ones.
Brainstorming Session
What does it mean for an organisation to be customer-centred?
Why is it that organisations mostly in third world countries are afraid of doing business from customers’ perception?
“Customers’ satisfaction is employees’ satisfaction” Discuss.
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Customer Centricity has much to do with the desire of an organisation to put customers first in whatever thing they are doing. In this article, I am going to talk more about Customer centricity in CRM.
The organisation is evolving into a customer-centric enterprise that will try to anticipate what customers want and try to meet customers at the right place with the right products and services.
A customer-centric enterprise will try to forget about immediate gain. They will be more concerned with building a loyal customer base which in turn generates unimaginable profit in the long run.
Before we move on, I would like to give another definition of CRM. CRM has been defined by the Gartner group as an enterprise-wide business strategy designed to optimize Profitability revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer satisfying behaviours and linking processes from customers through suppliers.
Customer Centricity has much to do with the desire of an organisation to put customers first in whatever thing they are doing.
The organisation is evolving into a customer-centric enterprise that will try to anticipate what customers want and try to meet customers at the right place with the right products and services.
A customer-centric enterprise will try to forget about immediate gain. They will be more concerned with building a loyal customer base which in turn generates unimaginable profit in the long run.
Before we move on, I would like to give another definition of CRM. CRM has been defined by the Gartner group as an enterprise-wide business strategy designed to optimize Profitability revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer satisfying behaviours and linking processes from customers through suppliers.
Objectives of this article In this article, we want to look at Customer-Centric enterprises, which are organizations that do business from customers’ perceptive. We want to look at:
What is Customer Centricity?
Importance of customer centricity
Customer’s perspective of CCEs.
What is Customer Centricity?
Customer Centricity can be seen as a set of disciplines and practices that allows companies at different customers differently, thereby gaining strategic advantages leading to the expansion of revenues and increased profitability.
In Customer Centricity, you try and analyse your customers and see how you can personalize their service. This will enable you to satisfy them and gain their loyalty.
If you ask many entrepreneurs the reason why they are not doing business from the customers’ perspective, they would tell you that it is not profitable to do business from the customers’ perspective. This is absolutely wrong.
A recent study by Delloite Consulting shows that companies that do business from the customers’ perspective are sixty percent more profitable than those that are not doing business from a customer’s perspective.
It has been said earlier that customers will gladly move to any organisation that can give them a better offer at a cheaper rate. The more you satisfy your customers; the more you are raising the exit barrier.
CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
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QUESTION 1051 A project manager is estimating project activities using an algorithm to calculate costs or durations. What is this technique called?
A. Analogous estimating B. Three-point estimating C. Parametric estimating D. Bottom-up estimating
Correct Answer: C
QUESTION 1052 The project manager is working in the processes of Project Resource Management. Which process is the project manager developing if they are using parametric estimation?
A. Plan Resource Management B. Estimate Activity Resources C. Estimate Costs D. Acquire Resources
Correct Answer: A
QUESTION 1053 Which of the following are components of the technical project management skill?
A. Ability to explain business aspects of the project, business strategy, goals and objectives, and business value B. Ability to deal with people, to be collaborative, and to apply persuasion and negotiation C. Ability to focus on relationships with people, inspire trust, and implement decisions and actions that support the business strategy D. Ability to plan and prioritize, gather the right artifacts available for each project, and focus on critical success factors
Correct Answer: D
QUESTION 1054
Which contract type is least desirable to a vendor?
A. Fixed price with economic price adjustment (FPEPA) B. Firm fixed price (FFP) C. Cost plus fixed fee (CPFF) D. Cost plus award fee (CPAF)
Correct Answer: B
QUESTION 1055 A project manager is in the process of working with stakeholders to meet their needs and expectations, and identifying and fostering communication and involvement. Which process does this typically represent?
A. Monitor Stakeholder Engagement B. Monitor Communications C. Manage Communications D. Manage Stakeholder Engagement
Correct Answer: D
QUESTION 1056 A construction project team has just had an inevitable delay due to a natural calamity. What should the project manager do next?
A. Use expert judgment B. Use organizational process assets C. Consult the project management plan D. Consult the risk register
Correct Answer: D
QUESTION 1057 Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives refers to?
A. Operations management B. Project management C. Program management D. Portfolio management
Correct Answer: D
QUESTION 1058 Analyzing activity sequences, durations, resource requirements, and schedule constraints for project and monitoring and controlling relates to which process?
A. Develop Schedule B. Control Schedule C. Estimate Activity Durations D. Define Activities
Correct Answer: A
QUESTION 1059 The project management plan requires the acquisition of a special part available from a supplier located abroad. Which source selection method is being used?
A. Least cost B. Qualifications only C. Sole source D. Fixed budget
Correct Answer: C
QUESTION 1060 Which of the following is used as an input to prepare a cost management plan?
A. Expert judgment B. Lessons learned C. Cost estimates D. Project management plan
Correct Answer: D
QUESTION 1061 Stakeholder identification and engagement should begin during what phrase of the project?
A. After the project management plan is completed B. After the stakeholder engagement plan is completed C. As soon as the project charter has been approved D. After the communications management plan is completed
Correct Answer: C
QUESTION 1062 In which sphere of influence is the project manager demonstrating the value of project management and advancing the efficacy of the project management office (PMO)?
A. The organization B. The project C. The industry D. The product
Correct Answer: A
QUESTION 1063 Which process is engaged when a project team member makes a change to project budget with the project manager’s approval?
A. Manage Cost Plan B. Estimate Costs C. Determine Budget D. Control Costs
Correct Answer: A
QUESTION 1064 Which of the following is an example of tacit knowledge?
A. Risk register B. Project requirements C. Expert judgment D. Make-or-buy analysis
Correct Answer: C
QUESTION 1065 During which knowledge area stage would a project manager close all contracts appropriately and then close the phase?
A. Project Integration Management B. Project Scope Management C. Project Procurement Management D. Project Resource Management
Correct Answer: D
QUESTION 1066 What type of risk is Variability risk?
A. Emerging risk B. Non-event risk C. Ambiguity risk D. Integrated risk
Correct Answer: D
QUESTION 1067
What tool should a project manager use to efficiently manage project resources?
A. List of project resources B. Resource breakdown structure C. Resources detailed in the project scope D. Resource requirements
Correct Answer: A
QUESTION 1068 Which of the following best correspond to the organizational process assets (OPAs) that affect the project?
A. Policies and lessons learned from other projects B. Information technology software and employee capability C. Resource availability and employee capability D. Marketplace conditions and legal restrictions
Correct Answer: A
QUESTION 1069 In an adaptive or agile life cycle, how are the customer and sponsor involved in the project scope management activities?
A. Involvement is needed only during project initiation B. Minimal involvement of stakeholders is sufficient C. They should be continuously engaged D. They should be involved only during phase or deliverable reviews
Correct Answer: D
QUESTION 1070 Make-or-buy analysis is a tool and technique of which process?
A. Conduct Procurements B. Plan Procurement Management C. Analyze Procurements D. Control Procurements
Correct Answer: B
QUESTION 1071 Project reporting is a tool that is most closely associated with which process?
A. Communicate Plan B. Manage Communications C. Report Performance D. Control Communications
Correct Answer: C
QUESTION 1072 A project manager of a civil construction project is trying to understand the local laws. What example of tailoring procurement could this best be described as?
A. Compliance and governance B. Physical location tailoring C. Complexity of procurement D. Availability of contractors
Correct Answer: B
QUESTION 1073 A project manager is performing a specific process and has a list of accepted deliverables. One of the stakeholders points out that they have just reviewed the verified deliverables, and come up with the list of accepted deliverables. Which process is being referred to?
A. Control Quality B. Validate Scope C. Validate Quality D. Control Scope
Correct Answer: A
QUESTION 1074 Which component of the project charter defines what the project’s success will look like?
A. Project objective B. Project approval requirements C. Project exit criteria D. High-level requirements
Correct Answer: A
QUESTION 1075 What does a sender-receiver model accomplish?
A. Describes the communications needed to manage the team or physical resources B. Outlines how stakeholders will be engaged through appropriate communication strategies C. Defines the lead, support, and risk management team members for each type of activity D. Creates feedback loops that allow for interaction and participation, and removes barriers
Correct Answer: A
QUESTION 1076 What two key components of the project management plan are used as inputs to create the cost management plan?
A. Schedule management and risk management plans B. Schedule management and scope management plans C. Procurement management and schedule management plans D. Resource management and schedule management plans
Correct Answer: C
QUESTION 1077 What is an input to the stakeholder engagement plan?
A. Risk register B. Project charter C. Scope management plan D. Schedule management plan
Correct Answer: B
QUESTION 1078
DRAG DROP
Match each tool or technique to its corresponding Project Risk Management process. Click on the tool or technique on the left and drag it to the appropriate gray box in the middle. Select and Place: Correct Answer:
QUESTION 1079 What tool or technique uses an algorithm or statistical relationship between historical data and other variables to calculate an activity’s needed resource quantities?
A. Expert judgment B. Bottom-up estimating C. Parametric estimating D. Analogous estimating
Correct Answer: C
QUESTION 1080
What is the aim of portfolio management?
A. Resolving constraints and conflicts that affect multiple projects B. Increasing the likelihood of realizing the desired return on investment (ROI) C. Aligning with the organizational or strategic direction that affects project goals D. Setting up a corporate governance plan for the proper allocation of resources
Correct Answer: C
QUESTION 1081 What output of the Conduct Procurements process is also an input to the Control Procurements process?
A. Agreements B. Change requests C. Source selection criteria D. Bid documents
Correct Answer: B
QUESTION 1082 In which Project Cost Management process is work performance data included?
A. Plan Cost Management B. Estimate Costs C. Determine Budget D. Control Costs
Correct Answer: D
QUESTION 1083 A project manager is talking with their manager about the advantages of following a particular project management approach. What component of the project manager’s sphere of influence does this represent?
A. The project B. The organization C. Professional discipline D. Across disciplines
Correct Answer: C
QUESTION 1084 What should a project manager reference to understand where responsibility, accountability, and authority reside within a company?
A. Project charter B. Scope of work C. Project management system D. Organizational system
Correct Answer: D
QUESTION 1085 DRAG DROP
Match the role with its corresponding job description. Select and Place: Correct Answer:
Explanation/Reference:
QUESTION 1086
DRAG DROP
A project manager is reviewing the different tools and techniques used to perform a quantitative risk analysis. Match the tool and techniques with the appropriate result.
Select and Place: Correct Answer:
QUESTION 1087 What is the main benefit of the lessons learned register?
A. Provides validation requirements B. Supplies monitoring and reporting methods C. Improves the performance of future projects D. Documents the status of deliverables and project results
Correct Answer: C
QUESTION 1088 What is both an input and output of the Control Quality process and is updated as a result of this process?
A. Lessons learned register B. Risk register C. Enterprise environmental factors (EEFs) D. Root cause analysis
Correct Answer: A
QUESTION 1089 A recently hired project manager is looking for templates to use for projects on which they will work. To what category of enterprise environmental factors should the project manager refer?
A. Resource availability B. Infrastructure C. Academic research D. Corporate knowledge base
Correct Answer: A
QUESTION 1090 What is an example of an emerging trend in procurement management?
A. Online technologies enable projects to postpone ordering long lead items until the items are needed. B. Online technologies allow a project’s progress to be viewed by all stakeholders to build better relations. C. Online procurement tools provide buyers with multiple sources to advertise to sellers. D. Online procurement tools provide sellers with designated sources for procurement documents and the resources to complete them.
Correct Answer: D
QUESTION 1091 What Knowledge Area must be led by the project manager and cannot be delegated to other specialists?
A. Project Cost Management B. Project Integration Management C. Project Risk Management D. Project Schedule Management
Correct Answer: D
QUESTION 1092 What key component of the project charter defines the conditions for closing a project phase?
A. Purpose B. Approval requires C. Exit criteria D. High-level requirements
Correct Answer: C
QUESTION 1093
DRAG DROP
Match the process with its corresponding process group. Select and Place:
Correct Answer:
QUESTION 1094 What major skill sets comprise the PMI Talent Triangle?
A. Technical project management, technology management, and strategic and business management B. Technical project management, leadership, and strategic and business management C. Leadership, operational management, and technical project management D. Organizational management, operational management, and technology management
Correct Answer: B
QUESTION 1095 What three strategies are used to respond to threats?
A. Escalate, accept, and mitigate B. Accept, share, and avoid C. Escalate, transfer, and exploit D. Mitigate, accept, and prioritize
Correct Answer: B
QUESTION 1096
Which is an example of a technical project management skill?
A. Managing a project schedule B. Developing a project delivery strategy C. Establishing a project team D. Understanding organizational objectives
Correct Answer: A
QUESTION 1097 What is the primary benefit of the Manage Quality process?
A. Increases the probability of meeting quality objectives B. Enhances the performance of the product being created C. Defines quality roles and responsibilities D. Ensures that the project is completed as originally planned
Correct Answer: A
QUESTION 1098 What characteristic of servant leadership supports resource management in an agile environment?
A. Lecturing B. Controlling C. Measuring D. Coaching
Correct Answer: D
QUESTION 1099 What tool or technique will establish expected behaviors for project team members?
A. Ground rules B. Decision making C. Power/influence grid D. Stakeholder engagement assessment matrix
Correct Answer: A
QUESTION 1100 What is the primary purpose of Project Scope Management?
A. Determining and managing stakeholder needs. B. Controlling the status of the product scope and managing changes to its baseline. C. Defining and controlling what is and is not included in the project. D. Differentiating between the product scope and project scope.
Correct Answer: C
QUESTION 1101 What organizational process asset (OPA) might impact a project’s output. Processes, polices, and procedures
B. Legal restrictions C. Infrastructure, resource availability, and employee capability D. Financial considerations
Correct Answer: A
QUESTION 1102 What specific quality considerations should be examined while completing Quality Management plan?
A. Risk register B. Stakeholder engagement C. Continuous improvement D. Standards and regulatory compliance
Correct Answer: D
QUESTION 1103 The table represents the possible durations of a specific project task. Using the three-point estimating technique, what is the expected number of days it should take to complete the task?
A. 2 B. 3 C. 4 D. 6
Correct Answer: C
QUESTION 1104 What important qualities should project managers possess for strategic and business management?
A. Skills and behaviors related to specific domains of project manageement
B. Knowledge and competencies needed to guide and motivate a team C. Skills and behaviors needed to help an organization achieve its goals D. Expertise in the industry and organization that deliver better outcomes
Correct Answer: C
QUESTION 1105 What is the recommended approach for handling risk in a high-variability environment?
A. Adaptive B. Predictive C. Iterative D. Incremental
Correct Answer: A
QUESTION 1106 Due to organizational changes, a new product owner joins a project. The product owner wants to review the process used to obtain team members, facilities, equipment, materials, supplies, and other resources necessary to complete project work.
What process should the project manager review with the product owner?
A. Acquire Resources B. Plan Resource Management C. Estimate Activity Resources D. Control Resources
Correct Answer: B
QUESTION 1107 A project team of telecommuters located in three different time zones regularly misses project deadlines. Daily meetings often start and end with the same person talking and the rest of the team listening. The project manager determines that communication among team members must be addressed. What communication step is missing from the daily meetings?
A. Interpersonal communication B. Feedback/response communication C. Push communication D. Pull communication
Correct Answer: B
QUESTION 1108 What process in Project Schedule Management identifies and documents specific actions to be performed to produce a project’s deliverables?
A. Plan Schedule Management B. Define Activities C. Develop Schedule D. Estimate Activity Durations
Correct Answer: B
QUESTION 1109 What tools or techniques are necessary to create the project management plan?
A. Meetings and data analysis B. Expert judgment and data gathering C. Interpersonal skills and change control D. Data analysis and expert judgment
Correct Answer: B
QUESTION 1110 What organizational process asset (OPA) can impact a project?
A. Marketplace conditions B. Preapproved supplier lists C. Physical environmental elements D. Legal restrictions
Correct Answer: B
QUESTION 1111 A project manager is creating a project charter to provide a direct link between the project and the organization’s strategic objectives. What must be considered when creating this document?
A. High-level requirements and the project team B. Key stakeholder list and contingency reserve C. Detailed milestone schedule and project objectives D. Project purpose and high-level project description
Correct Answer: D
QUESTION 1112 What is a characteristic of the relationship among projects, programs, and portfolios?
A. A portfolio is a group of programs, and a program is a large project B. Portfolios often engage with the same stakeholders as the programs and projects in the portfolio C. Programs focus on the internal interdependencies within each project in a portfolio D. Portfolios focus on program results and project deliveries
Correct Answer: A
QUESTION 1113 What tool or technique is used in the Collect Requirements process?
A. Inspection B. Decomposition C. Product analysis D. Prototypes
Correct Answer: D
QUESTION 1114 Product requirements specify a functionality that depends upon expertise that is unavailable internally. What process should be implemented to generate a make-or-buy decision?
A. Conduct Procurements B. Plan Procurement Management C. Plan Risk Responses D. Plan Risk Management
Correct Answer: B
QUESTION 1115
DRAG DROP
Match the method for categorizing stakeholders with its corresponding description. Select and Place: Correct Answer:
QUESTION 1116 What earned value (EV) measure indicates the cost efficiency of the work completed?
A. Cost variance (CV) B. Cost performance index (CPI) C. To-complete performance index (TCPI) D. Variance at completion (VAC)
Correct Answer: B
QUESTION 1117 How does planning for prevention costs assist in meeting stakeholder needs and expectations, while still providing required performance and reliability?
A. It details product or service failures experienced by the customer B. It clarifies the costs associated with assessing the quality of the product or service C. It accounts for costs used to avoid poor quality in the product or service D. It communicates product or service failures discovered by the project team
Correct Answer: C
QUESTION 1118 DRAG DROP
Match the process with its corresponding Process Group.
Select and Place:
Correct Answer:
QUESTION 1119
What tools or techniques can be used in all cost management processes?
A. Decision making and expert judgment B. Expert judgment and data analysis C. Data analysis and meetings D. Meetings and cost aggregation
Correct Answer: B
QUESTION 1120
Which behavior is a management trait?
A. Asking what and why B. Challenging the status quo C. Innovating D. Relying on control
Correct Answer: D
QUESTION 1121 What is a tailoring consideration for Project Scope Management?
A. Life cycle approach B. Continuous improvement C. Validation and control D. Project complexity
Correct Answer: C
QUESTION 1122 In addition to the project charter, what other artifact is produced as a result of the Develop Project Charter process?
A. Assumption log B. Milestone list C. Business case D. Risk register
Correct Answer: A
QUESTION 1123 What tool or technique is primarily used to plan risk responses?
A. Risk categorization B. Project risk document updates C. Strategies for overall project risk D. Risk management plan
Correct Answer: C
QUESTION 1124 What does leadership involve?
A. Working with others through discussion or debate to guide them from one point to another B. Directing another person from one point to another using a known set of expected behaviors C. Working with a person using expert judgment to develop the technical deliverables D. Directing another person to develop the necessary expertise to establish technical deliverables
Correct Answer: A
QUESTION 1125 What benefit does the Manage Stakeholder Engagement process offer?
A. Allows the project manager to increase support and minimize resistance from stakeholders B. Maintains or increases the efficiency and effectiveness of stakeholder engagement activities as the project evolves and its environment changes C. Provides an actionable plan to interact effectively with stakeholders D. Enables the project team to identify the appropriate focus for engagement of each stakeholder or group of stakeholders
Correct Answer: A
QUESTION 1126 When paying a consultation fee to a technical expert, what type of contract is often used?
A. Time and materials (T&M) B. Cost plus incentive fee (CPIF) C. Fixed price incentive fee (FPIF) D. Cost plus award fee (CPAF)
Correct Answer: A
QUESTION 1127 What risk response strategy involves removing high-risk scope elements from a project?
A. Transfer B. Avoid C. Exploit D. Accept
Correct Answer: B
QUESTION 1128 What is the Project Schedule Management practice used to deliver incremental value to the customer?
A. Resource optimization B. Iterative scheduling with a backlog C. On-demand scheduling D. Critical path method
Correct Answer: B
QUESTION 1129 Select three elements that apply to agile/adaptive environments? (Choose three.)
A. Frequent team checkpoints B. Colocation C. Access to information D. Virtual team members
E. Geographically dispersed team
Correct Answer: ABC
QUESTION 1130 What process group includes processes performed to complete work to satisfy the project requirements defined in the project management plan?
A. Initiating B. Executing C. Monitoring and Controlling D. Planning
Correct Answer: B
QUESTION 1131
After winning a large government contract, a company needs to hire a portfolio manager. What vital qualification should candidates possess?
A. Ability to manage strategic goals across multiple projects B. Skills to manage a large project C. Competency to manage multiple projects that align departments D. Capability of managing project schedules
Correct Answer: A
QUESTION 1132 What process is used to identify quality requirements and/or standards for a project and its deliverables?
A. Manage Quality B. Plan Quality Management C. Control Quality D. Perform Qualitative Risk Analysis
Correct Answer: B
QUESTION 1133 What describes the relationship between projects, programs, and portfolios?
A. Portfolio management focuses on doing the “right” programs and projects B. Project management focuses on doing the “right” programs and portfolios C. Program management focuses on doing the “specific” portfolios and projects D. Portfolio management focuses on doing the “specific” programs and projects
Correct Answer: A
QUESTION 1134
A product owner reviews the list of stakeholders to confirm their continued involvement with the product team. A new stakeholder is identified as actively involved in the next product release. What should the project manager do next to engage the new stakeholder?
A. Add the stakeholder to the communications management plan B. Conduct a one-on-one interview with the stakeholder C. Invite the stakeholder to the sprint-planning meeting D. Send the stakeholder a questionnaire
Correct Answer: A
QUESTION 1135 A project team identifies defects that will require a modification to a tool’s functionality. What process should the project manager follow to obtain stakeholder buy-in?
A. Control Schedule B. Perform Qualitative Risk Analysis C. Perform Integrated Change Control D. Control Scope
Correct Answer: B
QUESTION 1136 What term describes an intentional activity to modify a nonconforming product or product component?
A. Preventive action B. Corrective action C. Defect repair D. Updates
Correct Answer: C
QUESTION 1137 What key inputs from the project management plan can contribute to the communications management plan?
A. Resource management and stakeholder engagement plans B. Stakeholder engagement and schedule management plans C. Stakeholder engagement and scope management plans D. Risk management and stakeholder engagement plans
Correct Answer: A
QUESTION 1138 A company has implemented an adaptive project management framework for a new project. When planning for an iteration, how should risks be addressed? (Choose two.)
A. Risks should be considered when selecting the content of each iteration B. Risks should be tailored for each iteration C. Risks should be identified, analyzed, and managed during each iteration D. Risks should be documented prior to each iteration E. Risks should be reviewed only once during each iteration
Correct Answer: AC Section
QUESTION 1139 What is the common factor among portfolios, programs, and projects, regardless of the hierarchy within an organization?
A. Resources and stakeholders B. Operations and performance C. Subsidiary projects D. Project manager
Correct Answer: A
QUESTION 1140 A software development team is working on a project to adapt an application to new, government-established data-privacy rules. What factor led to the creation of this project?
A. Legal requirement B. New technology C. Social need D. Economic change
Correct Answer: A
QUESTION 1141 What is the most important skill that project managers should possess to lead stakeholders throughout a project?
A. Communication B. Problem-solving C. Negotiating D. Trust-building
Correct Answer: A
QUESTION 1142 A software development team is pulling work from its backlog to be performed immediately as they become available. What emerging practice for project scheduling is the team using?
A. Iterative B. On-demand C. Interactive D. Quality
Correct Answer: A
QUESTION 1143 What is the key benefit of the Monitor Stakeholder Engagement process?
A. Ensures that the informational needs of the project and its stakeholders are met through implementation and the development of artifacts B. Ensures that the project includes all the work required – and only the work required – to complete the project successfully C. Increases the probability and/or impact of positive risks, and decreases the probability and/or impact of negative risks or issues D. Maintains or increases the efficiency and effectiveness of stakeholder engagement activities as the project evolves
Correct Answer: D
QUESTION 1144 During a project’s execution phase, the project manager reviews the communications management plan for communication technology factors. What can affect the choice of communications?
A. Legal requirements B. Politics and power structures C. Internal information needs D. Sensitivity and confidentiality of the information
Correct Answer: D
QUESTION 1145 What kind of skills should a project manager use when attempting to achieve consensus by balancing the conflicting and competing goals of project stakeholders?
A. Interpersonal skills and the ability to manage people B. Strategic and business management skills C. Technical and business management skills D. Business analysis skills and expertise
Correct Answer: A
QUESTION 1146 What type of stakeholder is part of a project manager’s sphere of influence on a project?
A. Customers B. Sponsors C. Directors D. Resource managers
Correct Answer: B
QUESTION 1147 What estimating technique is used when there is limited information?
A. Analogous estimating B. Parametric estimating C. Bottom-up estimating D. Three-point estimating
Correct Answer: A
QUESTION 1148 DRAG DROP
Match each tool or technique with its corresponding Project Cost Management process. Select and Place:
Correct Answer:
QUESTION 1149
When in a project should the Plan Risk Management process be completed?
A. Prior to beginning the testing/validation phase B. At the end of the project, prior to releasing to production C. At the beginning of the project D. When change requests are submitted
Correct Answer: C
QUESTION 1150 During what process in Project Schedule Management does the project manager identify the actions necessary to produce the project’s deliverables?
A. Define Activities B. Sequence Activities C. Estimate Activity Durations D. Develop Schedule
Correct Answer: A
QUESTION 1151 What type of knowledge can be readily codified for sharing?
A. Existing B. Explicit C. Contextual D. Tacit Correct Answer: B
QUESTION 1152 What key element does project management offer to organizations to remain competitive?
A. Business value B. Ability to ensure change C. Unique product service or result D. Improved processes.
Correct Answer: A
QUESTION 1153
DRAG DROP
Match the inputs to the corresponding Project Procurement Management Process. Select and Place:
Correct Answer:
QUESTION 1154 What is an output of the Develop Team process?
A. Project management information system (PIMS) B. Team performance assessments C. Resource breakdown structure D. Project team assignments
Correct Answer: B
QUESTION 1155
DRAG DROP
Match the tool or technique with its corresponding Project Integration Management process. Select and Place:
Correct Answer:
QUESTION 1156 What level of authority does a project manager have when working within a project-oriented organizational structure?
A. High to almost total B. Low to moderate C. Moderate to high D. Little or none
Correct Answer: C
What process is included in Project Scope Management?
QUESTION 1158 What process involves the development of an approach for project communication activities based on the needs of each stakeholder or group, and the overall needs of the project?
QUESTION 1159 A project manager is searching for solutions that bring some degree of satisfaction to all parties in order to temporarily resolve a conflict. What conflict management technique is described in this situation?
A. Withdraw/avoid B. Smooth/accommodate C. Collaborate/problem solve D. Compromise/reconcile
Correct Answer: D
QUESTION 1160 What is an output of the Control Costs process?
A. Cost management plan B. Cost baseline C. Change requests D. Basis of estimates
Correct Answer: C
QUESTION 1161 DRAG DROP
Match each tool or technique with an appropriate example of that tool or technique. Select and Place: Correct Answer:
QUESTION 1162 A certified project manager mentors a colleague who is interested in obtaining the certification. What component of the project manager’s sphere of influence does this represent?
A. The project B. The organization C. Professional discipline D. Across disciplines
Correct Answer: C
QUESTION 1163
DRAG DROP
Match the tool or technique with the corresponding Project Integration Management process.
PS: I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
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QUESTION 1001 What charts and figures should project managers use during the Perform Quantitative Risk Analysis process?
A. Tornado diagrams and influence diagrams B. Detectability bubble charts and probability and impact matrix C. Hierarchical charts and burndown charts D. Flow charts and responsible, accountable, consult, and inform (RACI) charts
Correct Answer: A
QUESTION 1002 Recognition and rewards are tools and techniques of which process?
QUESTION 1003 At the beginning of an iteration, the team will work to determine how many of the highest-priority items on the backlog list can be delivered within the next iteration. Which of the following activities is done first?
A. Create Work Breakdown Structure (WBS) B. Create Scope Baseline C. Collect Requirements D. Define Scope
Correct Answer: D
QUESTION 1004 A project team submits a weekly progress report to the project manager. The project manager consolidates the same report and sends a complete progress report to the stakeholders. What is this an example of?
A. Informal communication B. Internal communication C. Formal communication D. Horizontal communication
Correct Answer: C
QUESTION 1005 A project manager is launching an information system to provide a lessons learned database. This action is necessary for recipients to access content at their own discretion. Which communication method is described?
A. Push communication B. Pull communication C. Interactive communication D. Stakeholder communication
Correct Answer: C
QUESTION 1006 A project report completed an earned value (EV) of US $45 for work with an actual cost (AC) of US $40. What is the cost performance index (CPI)?
A. 0.88 B. 1.12 C. 0.58 D. 1.58
Correct Answer: B
QUESTION 1007 A project manager is writing a document that obligates the seller to provide the specified products, services, or results and obligates the buyer to compensate the seller. This document represents a legal relationship that is subject to remedy in the courts.
Which document is described?
A. General terms B. Contract agreement C. Change request D. Statement of work
Correct Answer: B
QUESTION 1008 What is the difference between quality metrics and quality measurements?
A. Quality metrics are product attributes and the measurement is the result of the Monitor and Control Project process B. Quality metrics are the result of the Monitor and Control Project process and the measurements are product attributes C. Quality metrics and measurements are the same concept D. Quality metrics is the general objective and the measurements are the specific objectives
Correct Answer: A
QUESTION 1009 Which project manager competency is displayed through the knowledge, skills, and behaviors related to specific domains of project, program, and portfolio management?
QUESTION 1010 Which of the following technology platforms is most effective for sharing information when managing virtual project teams?
A. Video conferencing B. Audio conferencing C. Shared portal D. Email/chat
Correct Answer: D
QUESTION 1011 Which of the following is an example of the objective of a quality audit?
A. Identify non conformities, shortcomings, and gaps B. Verify solution effectiveness C. Perform data gathering D. Conduct retrospective
Correct Answer: A
QUESTION 1012 A firm contracted an event management company to conduct the annual sales day event. The agreement that the event management company will charge the firm for the actuals and receive 8% of the total cost. What type of contract is this?
A. Time and material (T&M) B. Fixed price incentive fee (FPIF) C. Cost plus fixed fee (CPFF) D. Cost plus award fee (CPAF)
Correct Answer: C
QUESTION 1013 Which tool is critical for the team to adapt to a high variability benefit project?
A. Colocation B. Collaboration C. Flexibility D. Specialization
Correct Answer: C
QUESTION 1014 What organizational asset can influence the Plan Risk Management process?
A. Corporate policies and procedures for social media, ethics, and security B. Organizational risk policy C. Stakeholder register templates and instructions D. Organizational communication requirements
Correct Answer: B
QUESTION 1015
What is the role of project management in terms of organizational strategy?
A. Project management aligns initiatives, prioritizes work, and provides resources B. Project management provides the strategic vision for an organization to achieve its goals C. Project management enables the achievement of organizational goals and objectives D. Project management harmonizes components and controls interdependencies to realize specific benefits
Correct Answer: C
QUESTION 1016 A project manager needs to tailor the Project Cost Management process. Which considerations should the project manager apply?
A. Diversity background B. Stakeholder’s relationships C. Technical expertise D. Knowledge management
Correct Answer: D
QUESTION 1017 Due to new market conditions a five-year project requires a full revision of project objectives. Which components of the stakeholder engagement plan need to be updated?
A. Scope and impact of change to stakeholders B. Project scope and stakeholder goals C. Engagement level of key stakeholders D. Stakeholder expectations for the project
Correct Answer: A
QUESTION 1018 In a large organization, with projects of different types and sizes, what kind of approach or method would be best to use?
A. Predictive B. Adaptive C. Technical project management
D. Agile
Correct Answer: C
QUESTION 1019 A functional manager is delegating a key project to a project team without a project manager. Which communication method will be most effective?
A. Interactive B. Push C. Verbal D. Oral
Correct Answer: A
QUESTION 1020 What is the first step in the Stakeholder Management process?
A. Plan Stakeholder Engagement B. Identify Stakeholders C. Manage Stakeholder Responsibility D. Monitor Stakeholder Activity
Correct Answer: B
QUESTION 1021 Which of the following is an example of an internal factor that influences the outcome of the project?
A. Legal restrictions B. Financial considerations C. Commercial database D. Geographic distribution of facilities
Correct Answer: B
QUESTION 1022 A project manager is monitoring and recording results of executing the quality management activities to assess performance and ensure the project outputs are complete, correct, and meet customer expectations. Which output is the project manager using?
A. Approved change requests B. Verified deliverables C. Lessons learned D. Work performance data
Correct Answer: B
QUESTION 1023 A project manager held a meeting and listed all team members’ ideas for improving the product on a white board. What data gathering technique did the project manager apply?
A. Focus groups B. Interviews C. Brainstorming D. Delphi technique
Correct Answer: C
QUESTION 1024 What is the purpose of tailoring in project management?
A. To select an appropriate team and its competencies for the project B. To select appropriate processes, tools & methodology for the project C. To ensure agile practices are embedded into project phases D. To let management know the project management will be done efficiency
Correct Answer: B
QUESTION 1025 During the execution phase of a project a defect is found. The project manager takes responsibility and with the correct documentation, begins the task necessary to repair the defect. What process was applied?
CAPM 502 A. Change request B. Risk response C. Risk management plan D. Lessons learned
Correct Answer: B
QUESTION 1026 A new project has been set. Four main stakeholders besides the project manager and four other team members have been identified.
How many communication channels are available?
A. 8 B. 18 C. 36 D. 40
Correct Answer: C
QUESTION 1027 Deciding the phases of project life cycle would be considered a part of which of these knowledge areas?
A. Project Schedule Management B. Project Scope Management C. Project Resource Management D. Project Integration Management
Correct Answer: B
QUESTION 1028 Which is the tool or technique that is used to obtain the list of activities from the work packages?
A. Data analysis B. Leads and lags C. Precedence diagramming method D. Decomposition
Correct Answer: D
QUESTION 1029 A project manager is formalizing acceptance of the completed project deliverables. What is an input to this process?
A. Verified deliverables B. Validated deliverables C. Accepted deliverables D. Completed change requests
Correct Answer: A
QUESTION 1030 The Agile principle “welcome changing requirements, even late in development” relates to which agile manifesto?
A. Working software over comprehensive documentation B. Individuals and interactions over processes and tools C. Customer collaboration over contract negotiation D. Responding to change over following a plan
Correct Answer: D
QUESTION 1031 A project team conducts regular standup meetings to keep everyone updated on what each one of them is working on. What type communication is this?
A. Informal B. Unofficial C. Formal D. Hierarchical
Correct Answer: A
QUESTION 1032 In a functional organization, the director of an important stakeholder business group expressed concern to a line manager about the progress of the project. What should the line manager do next?
A. Hold a face-to-face meeting with the project manager and warn them B. Point the director to a link where they can take a look at the reports C. Invite stakeholders to attend monthly progress review meetings D. Ask the project manager to update the monthly status report distribution list
Correct Answer: C
QUESTION 1033 Which conflict resolution technique produces the most lasting results?
A. Withdraw/avoid B. Smooth/accommodate C. Compromise/reconcile D. Collaborate/problem solve
Correct Answer: D Section: Volume E Explanation
QUESTION 1034 A project has an estimated duration of 10 months with a total budget of US$220,000. At the end of the fifth month, it is estimated that at completion, the project will incur US$250,000. If the actual cost (AC) calculated is US$150,000, what is the earned value (EV) of the project?
A. US$-30,000
B. US$120,000 C. US$370,000 D. US$400,000
Correct Answer: A
QUESTION 1035 In agile projects while performing scope management, what is the definition of requirements?
A. Metrics B. Sprint C. Charter D. Backlog
Correct Answer: C
QUESTION 1036 Which of the following are processes associated with Project Cost Management?
A. Develop Costs, Estimate Costs, Determine Budget, Control Costs B. Develop Budget, Determine Budget, Determine Risks, Control Costs C. Plan Cost Management, Estimate Costs, Determine Budget, Control Costs D. Plan Budget Management, Determine Budget, Create Cost Accounts, Control Costs
Correct Answer: C
QUESTION 1037 Creating the project scope statement is part of which process?
A. Manage Scope B. Collect Requirements C. Define Scope D. Validate Scope
Correct Answer: C
QUESTION 1038 Directing another person to get from one to another using a known set of expected behaviors are the ability to lead a team and inspire them to do their jobs well is related to?
A. Influence and challenge B. Innovation and administration C. Leadership and management D. Engagement and guidance
Correct Answer: C
QUESTION 1039 A project manager has to share a status report with a new stakeholder and is trying to determine the level of detail to include in the report. Which document best details the information the project manager needs to make this decision?
A. Organizational process assets B. Change management plan C. Communications management plan D. Resource management plan
Correct Answer: C
QUESTION 1040 A project manager called for a team meeting to estimate the project effort. During the session, the team went on to identify all the deliverables and analyzed the related work. Each of the analyzed deliverables were estimated.
Which estimation method did the team use?
A. Rolling wave planning B. Expert judgment C. Decomposition D. Data analysis
Correct Answer: C
QUESTION 1041 What is the best tool to calculate the critical path on a project?
A. Critical chain method B. Graphical evaluation and review technique (GERT) diagram C. Gantt chart D. Project network diagram
Correct Answer: C
QUESTION 1042
What are the key tools for managing project knowledge?
A. Expert judgment and data gathering B. Networking and storytelling C. Data analysis and decision making D. Prototypes and product analysis
Correct Answer: A
QUESTION 1043 A project manager is experiencing a project with a high degree of change. Which type of stakeholder engagement does this project require?
A. Discussing with management B. Escalating to the sponsors C. Engaging regularly with stakeholders D. Engaging only with decision makers
Correct Answer: C
QUESTION 1044 Which role does the project manager resemble best?
A. Orchestra conductor B. Facilities supervisor C. Functional manager D. School principal
Correct Answer: A
QUESTION 1045 A project manager uses their networking skills to build agreement with a difficult stakeholder. What level of influence did the project manager apply?
A. Project level B. Organizational level C. Industry level D. Influential level
Correct Answer: C
QUESTION 1046 Which of the following describes the similarities of the process groups and project life cycle?
A. The life cycle involves three project management process groups B. Both provide a basic framework to manage the project C. Each project must have a life cycle and all processes in the five process groups D. The project life cycle is managed by executing the processes within the five process groups
Correct Answer: B
QUESTION 1047 Which of the following are outputs of the Define Scope process in Project Scope Management?
A. Requirements documentation and requirements traceability matrix B. Scope management plan and requirements management plan C. Project scope statement and project documents updates D. Scope baseline and project documents updates
Correct Answer: A
QUESTION 1048 Which tasks should a project manager perform in order to manage the project schedule effectively?
A. Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Durations, Define Quality of Activities, Develop Schedule B. Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Durations, Develop Schedule, Control Schedule C. Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Durations, Estimate Cost of Activities, Develop Schedule D. Define Activities, Sequence Activities, Estimate Activity Durations, Define Quality of Activities, Estimate Cost of Activities, Develop Schedule
Correct Answer: B
QUESTION 1049 A project team is discussing an upcoming planned product launch of a highly visible technologically advanced artificial intelligence tool. The team is debating the aspect of iterative and hybrid approaches. Which aspect of tailoring would this best represent?
A. Life cycle approaches B. Resource availability C. Project dimensions D. Technology support
Correct Answer: C
QUESTION 1050 A project had four phases, and at the end of the third phase, the project manager realized that some of the project execution steps could have been improved to avoid team burn out What should the project manager have done differently?
A. Conduct performance reviews B. Review quality reports with the project team C. Hold regular meetings with the project team D. Conduct a retrospective session at the end of each phase
Correct Answer: D
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate level, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained includes staffs of Dangote Refinery, FCMB, Zenith Bank, New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
Fact Check Policy
CRMNUGGETS is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
In my previous article, I have looked at some of the facts that you need to know about Programs and Portfolio management but in this article, I will be looking at all that you need to know about Operations in Project management. Follow me as we are going to be looking at that in this article.
Operations are ongoing, repetitive tasks that produce the same outcome every time they are performed.
The purpose of operations is to carry out day-to-day organisational functions, generate income to sustain the business, and increase the value of organisational assets.
Operational processes are aligned with the business requirements of an organisation.
The company plans to reach a break-even point in three years by achieving the desired volume of output from its new branch.
The operations to be carried out in the new branch include daily production, routine maintenance wage and salary credits to employees, grievance handling, logistics and supply of finished products to the market.
CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
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QUESTION 923 Considering a highly dynamic project environment, which approach should the project manager adopt to manage the project team?
A. A self-organizing approach to increase team focus and maximize collaboration. B. A virtual team to minimize feeling of isolation and gaps on sharing knowledge. C. A distributed team to improve tracking progress, productivity, and performance. D. A norming approach that requires team members to adjust their behavior and work together.
Correct Answer: A
QUESTION 924 A project is just beginning, and management creates a long list of potential stakeholders. Which statement about identifying and engaging stakeholders is correct?
A. The project manager should identify and deal with stakeholders only during the execution phase. B. Stakeholder satisfaction should be identified immediately and managed as a project objective. C. The project manager should focus on project objectives and deal with stakeholders as a secondary priority. D. Stakeholder satisfaction is the most important goal, and project objectives should be considered a secondary priority.
Correct Answer: B
QUESTION 925 Which of the following documents should the project manager update as a result of implementing the Plan Risk Responses process?
A. Risk Report B. Issue Log C. Assumption Log D. Risk Management Plan
Correct Answer: D
QUESTION 926 An important project stakeholder has low risk tolerance. Which type of communication should a project manager use to provide this stakeholder with a difficult update?
A. Informal conversation B. Face-to-face meeting C. Short email update D. Written report
Correct Answer: D
QUESTION 927 In order to detect quality issues earlier in the project life cycle, the project manager is using an agile/adaptive environment. What is the main difference between waterfall and agile/adaptive development approaches for Project Quality Management?
A. The frequency of the quality and review steps B. The number of deliverables C. The duration of each of the quality and review steps D. The tools used in the quality and review steps
Correct Answer: C
QUESTION 928 Which set of competencies should a project manager have?
A. Leadership, strategic and business management, and technical project management B. Expertise in the industry, leadership and business management, and bilingual skills C. Technical project management, expertise in every role, and PMP certification D. Expertise in every detail on project activities, PMP certification, and leadership
Correct Answer: A
QUESTION 929 Which format can a network diagram take?
A. Flow chart B. Control chart C. Affinity diagram D. Cause-and-effect diagram
Correct Answer: A
QUESTION 930 A project manager is assigned to a strategic project. Senior management asks the project manager to give a presentation in order to request support that will ensure the success of the project.
Which entities will the project manager attempt to influence?
A. The project and the organization B. The organization and the industry C. The subject matter experts and the project D. The change control board and the organization
Correct Answer: A
QUESTION 931 The procurement requirements for a project include working with several vendors. What should the project manager take into consideration during the Project Procurement Management processes?
A. Work performance information B. Bidder conferences C. Complexity of procurement D. Procurement management plan
Correct Answer: A
QUESTION 932 According to PMBOK, the definition of Plan Risk Management is:
A. Develop strategies and agreeing on actions to address overall and individual risk and exposure B. Define how to conduct risk management activities for a project C. Implement agreed-upon risk response plans D. Analyze the impact of identified individual risk and other sources of uncertainty on overall project objectives
Correct Answer: D
QUESTION 933 Which tool should a project manager consider to deal with multiple sources of risk?
A. An updated risk register B. Risk breakdown structure C. Issue log D. Stakeholder register
Correct Answer: B:
QUESTION 934 Which key benefit can a project manager obtain by identifying stakeholders?
A. Identify the appropriate focus for engagement of each stakeholder B. Assess the risk exposure for each stakeholder C. Map stakeholder power and influence grid D. Identify the appropriate channels of communication with all stakeholders
Correct Answer: A
QUESTION 935 The project manager is working in an agile/adaptive environment. The project manager is considering different approaches for applying Project Integration Management in this environment.
How can the project manager ensure that this will work for the project?
A. Take control of all decisions and product planning B. Build a team that can respond to changes within a collaborative, decision-making environment C. Promote a team with a narrow specialization within a hierarchical environment D. Delegate project decisions to the product owner and sponsor
QUESTION 936 Which of the following tasks focuses on decomposing work packages?
A. Adjust duration estimates B. Define activities C. Complete rolling wave planning D. Develop milestone list
Correct Answer: B
QUESTION 937 The project manager is using co-location and providing training to the project team. On which of the following Project Resource Management processes is the project manager working?
A. Acquire Resources B. Control Resources C. Manage Team D. Develop Team
Correct Answer: D
QUESTION 938 A project is in progress and about to move to a different phase, according to the plan. This will be a good opportunity for the project manager to:
A. create the project management plan B. identify the project objectives C. review and update stakeholder engagement D. create the schedule baseline
Correct Answer: C
QUESTION 939 Which is the appropriate tool to identify the possible correlation between two elements in a process?
A. Scatter diagram B. Cause-and-effect diagram C. Histogram D. Control charts
Correct Answer: A
QUESTION 940 Which is a difference between leadership and management?
A. Management influences and focuses on relationships with people; leadership focuses on systems and structure. B. Leadership and management are the same thing and can be used interchangeably. C. Management focuses on systems and structure; leadership focuses on relationships with people. D. Management focuses on motivation and long-range vision; leadership focuses on near-term goals and problem solving.
Correct Answer: C
QUESTION 941 Which components of the project can be updated as a result of managing stakeholder engagement?
A. Project management plan, project documents, and change requests B. Project management plan, communication plan, and work performance information C. Risk and communication plans D. No components of the project can be updated after a stakeholder engagement plan has been completed
Correct Answer: A
QUESTION 942 At what stages of a project should the Identify Stakeholders process be performed?
A. When beginning each phase of the project B. At the beginning of the project only C. Only when the project manager is concerned about stakeholder satisfaction D. When the project charter is produced, at the beginning of each phase, and when significant changes occur
Correct Answer: B
QUESTION 943 How can a project manager evaluate project team development?
A. Produce team performance assessments B. Hold weekly meetings to engage every member C. Complete a personal skill assessment on each team member D. Provide recognition awards to team members
Correct Answer: A
QUESTION 944 Which of the following lists represents the outputs of the Monitor Communications process?
A. Project communications, project management plan updates, project documents updates, and organizational process assets updates B. Work performance information, change requests, project management plan updates, and project documents updates C. Communications management plan, project management plan updates, work performance report, and project documents update D. Stakeholder engagement plan, change requests, project management plan updates, and project documents updates
Correct Answer: B
QUESTION 945 A company must implement sales software because it is opening a new branch in a foreign market. Although this software is used in every domestic branch, multiple changes are expected during the implementation because it is a foreign location.
Which type of life cycle would the project manager use in this case?
A. Predictive life cycle B. Waterfall life cycle C. Hybrid life cycle D. Product life cycle
Correct Answer: C
QUESTION 946 Which are the main objectives of Project Risk Management?
A. Increase the probability of positive risks and decrease the probability of negative risks B. Avoid all kind of risks C. Increase the probability of positive risks and eliminate all negative risks D. Identify positive and negative risks
Correct Answer: D
QUESTION 947 A project receives budget approval, but the risk of extra costs is expected. Which of these inputs should the project manager check in order to make a qualitative risk analysis?
A. The risk management plan and the assumption log B. Costs estimates and cost forecasts C. The risk management plan and the basis of estimates D. The assumption log and the project charter
Correct Answer: A
QUESTION 948 Which are examples of processes that may be used once or at predefined points in the project life cycle?
A. Develop Project Charter and Close Project or Phase B. Define Activities and Acquire Resources C. Control Schedule and Conduct Procurements D. Monitor Communications and Control Costs
Correct Answer: A
QUESTION 949 Which type of project life cycle uses an iteration plan?
A. Agile B. Predictive C. Waterfall D. Product
Correct Answer: C
QUESTION 950 Which process determines the correctness of deliverables?
A. Verify Deliverables B. Validate Deliverables C. Review Deliverables D. Analyze Deliverables
Correct Answer: A
QUESTION 951 What is one of the main purposes of the project charter?
A. Formal authorization of the existence of the project B. Formal acceptance of the project management plan C. Formal approval of the detailed project budget D. Formal definition of stakeholder roles and responsibilities
Correct Answer: A
QUESTION 952 Tailoring considerations for project scope management may include:
A. requirements management, stability of requirements, development approach, and validation and control B. WBS guidelines, requirements templates, deliverable acceptance forms, and verified deliverables C. business needs, product descriptions, project restrictions, and project management plan D. issues defining and controlling what is included in the project, verified deliverables, and quality reports
Correct Answer: A
QUESTION 953 Which statement about accepted deliverables is correct?
A. Project deliverables are completed and checked for correctness through the Control Quality process B. Project deliverables meet the acceptance criteria and are formally signed off and approved by the customer or sponsor C. Project deliverables meet the acceptance criteria and have been checked through the Control Quality process D. Projects deliverables are registered as a result of all work packages that are checked and delivered and which meet the acceptance criteria
Correct Answer: B
QUESTION 954 Which of the following set of items belongs to the communications management plan?
A. Escalation processes and meeting management B. Project schedule and glossary of common terminology C. Escalation processes and stakeholder communication requirements D. Interactive communication model and information to be communicated
Correct Answer: A
QUESTION 955 A project manager is working on project cost management. The following information is current:
Planned value = 30 Actual cost = 35 Earned value = 28 Considering this data, which project indicator is correct?
A. Schedule Variance (SV) = 2 B. Cost Performance Index (CPI) = 0.80 C. Schedule Performance Index (SPI) = 1.93 D. Cost Variance (CV) = 7
Correct Answer: B
QUESTION 956 Which knowledge area includes the processes to identify, define, and unify the various project management processes?
A. Project Integration Management B. Project Communications Management C. Project Quality Management D. Project Risk Management
Correct Answer: A
QUESTION 957 Which task will a project manager undertake while conducting Project Resource Management?
A. Identify the different aspects of the team to manage and control physical resources efficiently B. Procure equipment, materials, facilities, and infrastructure for the project C. Train the team members in project skill sets D. Define the roles and responsibilities of each team member
Correct Answer: A
QUESTION 958 A project team member is estimating the cost of an activity and is checking documentation from previous similar projects. Which estimation method is the project manager using to complete this task?
A. Bottom-up estimating B. Three-point estimating C. Analogous estimating D. Parametric estimating
Correct Answer: C
QUESTION 959 Under which circumstances should multiple projects be grouped in a program?
A. When they are needed to accomplish a set of goals and objectives for an organization B. When they have the same project manager and the same organizational unit C. When they have the same scope, budget, and schedule D. When they are from the same unit of the organization
Correct Answer: A
QUESTION 960 How should a project manager plan communications for a project which has uncertain requirements?
A. Include stakeholders in project meetings and reviews, use frequent checkpoints, and co-locate team members only. B. Invite customers to sprint planning and retrospective meetings, update the team quickly and on a daily basis, and use official communication channels. C. Adopt social networking to engage stakeholders, issue frequent and short messages, and use informal communication channels. D. Adopt a strong change control board process, establish focal points for main subjects, and promote formal and transparent communication.
Correct Answer: D
QUESTION 961 Which statement describes the relationship between Manage Quality process and Control Quality process?
A. Manage Quality is all about following planned processes and procedures for quality, while Control Quality is about making sure that the product which is produced conforms to customer specifications. B. Control Quality is all about following planned process and procedures for quality, while Manage Quality is about making sure that the product which is produced conforms to customer specifications. C. Manage Quality and Control Quality are the same. D. Manage Quality is part of Quality Management and Control Quality is a subset of the Stakeholder Management Process group.
Correct Answer: A
QUESTION 962 Which is a list of organizational systems that may have an impact on a project?
A. Internal policies, company procedures, and organizational resources B. Company culture, purchasing system, and project management information system C. Organizational structure, governance framework, and management elements D. Organizational process assets, enterprise environmental factors, and corporate knowledge
Correct Answer: A
QUESTION 963 In an agile or adaptive environment, when should risk be monitored and prioritized?
A. Only during the Initiation and Closing phases B. During the Initiation and Planning phases C. During each iteration as the project progresses D. Throughout the Planning process group and retrospective meeting
Correct Answer: C
QUESTION 964 What are the inputs of the Estimate Costs process?
A. Project management plan, work performance data, enterprise environmental factors, and organizational process assets B. Project management plan, project documents, enterprise environmental factors, and organizational process assets C. Cost baseline, enterprise environmental factors, benefits management plan, and organizational process assets D. Project management plan, enterprise environmental factors, basis of estimates, and organizational process assets
Correct Answer: B
QUESTION 965 When project requirements are documented in user stories then prioritized and refined just prior to construction, which approach is being used for scheduling?
A. Iterative scheduling with backlog B. On-demand scheduling C. Life cycle scheduling with backlog D. Defining iterative activities
Correct Answer: A
QUESTION 966 The focus on continuous communication with all stakeholders, including team members, is part of this knowledge area:
A. Project Integration Management B. Project Resource Management C. Project Stakeholder Engagement plan D. Project Communications Management
Correct Answer: D
QUESTION 967 For which kind of quantitative risk analysis chart can a tornado diagram represent values?
A. Sensitivity analysis B. Monte Carlo analysis C. Expected monetary value analysis D. Decision tree analysis
Correct Answer: A
QUESTION 968 A project manager is preparing to meet with three crucial project stakeholders on a new project. Which tools and techniques can the project manager use to capture stakeholder interest?
A. Review stakeholder register and meeting B. Data analysis and communication skills C. Data gathering and data analysis D. Communication skills and cultural awareness
Correct Answer: D
QUESTION 969 A project manager is identifying the risks of a project. Which technique should the project manager use?
A. Representations of uncertainty B. Prompt lists C. Audits
D. Risk categorization Correct Answer: D
QUESTION 970 What does an S-curve from a Monte Carlo analysis show?
A. Cumulative probability distribution representing probability of achieving a particular outcome B. Individual project risks or uncertainties that have the most potential impact on outcome C. Best alternative out of the possible solutions, incorporating associated risks and opportunities D. Diagram for all project uncertainties and their influence over a period of time
Correct Answer: A
QUESTION 971 Which components of the project management plan are inputs used when creating the stakeholder engagement plan?
A. Risk, resource, and communications management plans B. Scope, quality, and resource management plans C. Procurement, integration, and risk management plans D. Communications, schedule, and cost management plans
Correct Answer: D
QUESTION 972 Which of these is true of project integration management?
A. Project Integration Management is mandatory and more effective in larger projects B. Project Integration Management and expert judgment are mutually exclusive C. Project Integration Management is the responsibility of the project manager D. Project Integration Management excludes the triple constraints if cost performance index (CPI) equals zero
Correct Answer: A
QUESTION 973 A team was hired to develop a next generation drone. The team created a prototype and sent it to the customer for testing. The feedback was used to refine the requirements.
What technique is the team using?
A. Early requirements gathering B. Feedback analysis C. Progressive elaboration
D. Requirements documentation
Correct Answer: B
QUESTION 974 A project manager is determining the amount of contingency needed for a project. Which analysis is the project manager using?
A. What-if scenario analysis B. Simulation C. Alternatives analysis D. Reserve analysis
Correct Answer: D
If you are using an Ishikawa diagram to determine the root cause of problems, which process are you engaged in?
A. Plan Quality Management B. Control Quality C. Risk Management D. Plan Scope Management
Correct Answer: B
QUESTION 976 Responsible, accountable, consult and inform (RACI) is an example of which of the following?
A. Text-oriented format B. Resource management plan C. Organization chart D. Responsibility assignment matrix (RAM)
Correct Answer: D
QUESTION 977 An organizational structure that standardizes the project-related governance and facilitates the sharing of resources, methodologies, tools, and techniques is referred to as:
A. Project Management Information System B. Project Management System C. Project Management Office D. Project Management Knowledge Area
Correct Answer: C
QUESTION 978 Which of the following sets are inputs to the Collect Requirements process?
A. Project charter and requirements documentation B. Project charter and business documents C. Project charter and stakeholder requirements D. Business documents and requirements traceability matrix
Correct Answer: B
QUESTION 979 In which of the Risk Management processes is the project charter used as an input?
A. Plan Risk Responses B. Implement Risk Responses C. Plan Risk Management D. Perform Quantitative Risk Responses
Correct Answer: C
QUESTION 980 Which of the following must be included in the risk register when the project manager completes the Identify Risks process?
A. List of identified risks, potential risk owners, list of potential risk response B. List of identified risks, list of causes, list of risk categories C. Short risk titles, list of potential risk owners, list of impacts on objectives D. List of activities affected, list of potential risk responses, list of causes
Correct Answer: A
QUESTION 981 One of the outputs of the project schedule is a detailed plan. What is the main purpose of that detailed plan?
A. It represents how and when the project will deliver the products, services, and results defined in the project scope B. It creates a formal record of the project and shows the organizational commitment to the project C. It describes how the scope will be defined, developed, monitored, controlled, and validated D. It provides the needs of a stakeholders or stakeholder group
Correct Answer: B
QUESTION 982 In which organizational structure would the project manager have most authority?
A. Matrix-weak B. Matrix-balanced C. Matrix-strong D. Organic or simple
Correct Answer: C
QUESTION 983 What are the objectives of initiation processes?
A. Initiation processes are performed in order to develop the project charter and identify stakeholders. B. Initiation processes are performed in order to obtain budget approval for a project or phase and approve scope with customers. C. Initiation processes are performed to identify business objectives for a project or phase and identify stakeholders’ goals. D. Initiation processes are performed to map initial requirements for a project or phase and prioritize them with stakeholders.
Correct Answer: C
QUESTION 984 A construction project is underway, and during the progress review the painter complained that the task could not be started because the mason has not finished the plastering job. What kind of relationship between the tasks impacted the painting work?
A. Finish-to-Finish (FF) B. Start-to-Finish (SF) C. Finish-to-Start (FS) D. Start-to-Start (SS)
Correct Answer: C
QUESTION 985 A project manager has just completed several brainstorming sessions and has gathered the data to show commonality and differences in one single place. What technique was followed?
A. Collective decision making B. Multicriteria decision analysis C. Mind mapping D. Affinity diagram
Correct Answer: C
QUESTION 986 Which of these is true of a project schedule?
A. Project Schedule Management processes are discrete and don’t overlap B. Project schedules should typically allow for flexibility during the project C. Project schedules must always contain milestone lists and activity attributes D. Project schedules which are iterative can extend longer than four weeks
Correct Answer: B
QUESTION 987 How can a project manager determine if the project activities comply with organizational and project policies, processes, and procedures?
A. Look at the quality metrics B. Validate the scope C. Review the quality checklist D. Conduct a quality audit
Correct Answer: A
QUESTION 988 For the given information: Activity A, duration 5 days, predecessors: none Activity B, duration 3 days, predecessors: none.
Activity C, duration 6 days, predecessors: A and B Activity D, duration 7 days, predecessors: B Activity E, duration 4 days, predecessors: C and D Activity F, duration 2 days, predecessors: E and B
Which of the following shows the project’s critical path?
A. Start, B, F, Finish B. Start, B, C, E, F, Finish C. Start, B, D, E, F, Finish D. Start, A, C, E, F, Finish
Correct Answer: B
QUESTION 989 The primary purpose of the stakeholder register is to:
A. Record stakeholder issues on the project B. Maintain lessons learned earlier in the project C. Maintain a list of all project stakeholders D. Document change requests and their status
Correct Answer: C
QUESTION 990 Work performance information is an input to which of the following processes?
A. Direct and Manage Project Work B. Monitor and Control Project Work C. Control Scope D. Validate Scope
Correct Answer: B
QUESTION 991
Why is tailoring in a project necessary?
A. Requirements keep changing B. An artifact must be produced C. A tool or technique is required D. Each project is unique
Correct Answer: D
QUESTION 992 The project team is brainstorming on approaches to deliver the upcoming product launch for which the project has been chartered. The project manager is laying out hybrid, adaptive, iterative methods. What is the team trying to address?
A. Co-location B. Life-cycle C. Diversity D. Management
Correct Answer: D
QUESTION 993 Which of the following is used to classify stakeholders based on their assessments of power, urgency, and legitimacy?
A. Power interest grid B. Stakeholder cube C. Salience model D. Directions of influence
Correct Answer: C
QUESTION 994 What can the project manager find among the factors that could lead a project to be tailored?
A. Company culture B. Return on investment C. Earned Value D. Schedule Performance Index
Correct Answer: D
QUESTION 995 What is the order of the stages of project team development?
A. Forming, Storming, Norming, Performing, and Adjourning B. Storming, Forming, Norming, Performing, and Adjourning C. Adjourning, Forming, Storming, Norming, and Performing D. Forming, Storming, Performing, Norming, and Adjourning
Correct Answer: A
QUESTION 996 Project managers play a key role in performing integration on a project. What are the three different levels of integration?
A. Process, cognitive, and context B. Complexity, understand, and change C. Interact, insight, and leadership D. Communication, knowledge, and value
Correct Answer: A
QUESTION 997 Using the following information and assuming that the project team will work a standard 40-hour work week:
Activity A has a duration of 10 days. Activity B has a duration of 10 days and its predecessor is Activity A. Activity C has a duration of 15 days and its predecessor is Activity A. Activity D has a duration of 10 days and its predecessor is Activity B and C. Activity E has a duration of 10 days and its predecessor is Activity D. Activity F has a duration of 15 days and its predecessor is Activity D.
What is the critical path of the project?
A. ABDE B. ACDF C. ABDF D. ACDE
Correct Answer: B
QUESTION 998 When should Project Risk Management be conducted?
A. Project Planning B. Monitoring and Controlling C. Quality Planning D. Throughout the project lifecycle
Correct Answer: D
QUESTION 999 What communication methods would a project manager use for overall effective project communication?
A. Interactive communication, push communication, interpersonal communication B. Interactive communication, push communication, pull communication C. Push communication, pull communication, interpersonal communication D. Pull communication, interactive communication, interpersonal communication
Correct Answer: B
QUESTION 1000 The document that guides project execution, monitoring and control, and closure is called:
A. The project charter B. The project management plan C. The integration plan D. The execution plan
Correct Answer: B
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate level, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained includes staffs of Dangote Refinery, FCMB, Zenith Bank, New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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In my previous article, I talked about all you need to know about project and project management generally. In this article, I want to talk about all that you should know about program and portfolio management. Follow me as we are going to look at that in this article.
A Program…
A program is a group of related projects that have a common objective. It offers great control over constituent projects and delivers benefits that the organisation can use to meet its goals.
A Program is managed by a program manager, and individual projects are managed by project managers who work for the program manager.
However, all projects need not always be part of a program. Projects that do not have a common objective, but still are managed in a group, are generally known as multiple projects.
Typical example…
A computer servicing firm launched a new program that aims at expanding its servicing firm. This expansion program consists of many projects such as market research to establish demand, construction of new branches, franchisee selection, designing the marketing campaign, and consolidation of the customer base by establishing loyalty programs.
Portfolios…
A Portfolio is a collection of projects, programs and operational work to achieve the strategic business objectives of an organisation.
The projects in a portfolio may or may not be interdependent, but they are grouped to give management a broader view of the organisation’s projects and their adherence to organisational objectives.
For a project to be part of a portfolio, its attributes such as cost, resource requirements, timelines, strategic goals, and benefits should be in line with other projects in the portfolio.
Portfolios are generally managed by a senior manager or senior management teams.
Typical example…
Alternate energy-producing designed a breakthrough technology capitalising on solar energy. The company’s s strategy is to exploit the technical know-how in all possible areas to generate revenue and become a trend seller.
It initiated a portfolio that contains various programs and independent projects to identify the potential use of this technology in power generation, transportation in power generation, transportation, and domestic and industrial markets.
The portfolio also included other operational work such as administration and logistic related activities.
It is essential for the company to ensure that the operational work continuously supports the projects and programs.
Program management includes related and Interdependent projects, while a portfolio may include several otherwise unrelated projects if they all support major goals or a significant product line.
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I don’t know of you, but whoever you are, you are involved in project execution in one way or the other. The funniest thing is that not all that is involved in project execution know what project management practice is. That is why many projects fail. In this article, I want to look at some of the foundations of project management.
What then is a project…
A Project is a temporary endeavour undertaken to create a unique product, service or result. For you to now understand it better, let me break down the different aspects of the definition.
Unique product…
Projects are undertaken to fulfil objectives by producing deliverables. An objective is defined as an outcome towards which work is to be directed, a strategic position to be attained, a purpose to be achieved as well as result to be obtained, a product to be produced, or a service to be performed. A deliverable, on the other hand, can be defined as any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. It should be noted that a deliverable can be tangible or intangible in nature. In addition, the fulfilment of project objectives may produce one or more of the following deliverables…
A unique product can be a component of either another item, an enhancement or correction to an item, or a new end item in itself.
Unique service or capability to perform a service. A good example is a business function that supports the production or distribution of goods and services.
A unique result, such as an outcome or document. For instance, a research project that develops knowledge that can be used to determine whether a trend exists or a new process will benefit society.
A unique combination of one or more products, services, or results. For instance a software application, its associated documentation, and help desk services.
Repetitive elements may be present in some project deliverables and activities. This repetition does not change the fundamental and unique characteristics of the project work. For example, office buildings can be constructed with the same or similar materials and by the same or different teams. However, each building project remains unique in key characteristics such as location, design, environment, situation as well as people involved in that project. Projects are undertaken at all organizational levels. A project can involve a single individual or a group. A project can also involve a single organizational unit or multiple organizational units from multiple organisations.
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Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
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169. Powers giving the power of the dead my garment of greatness to hide, collect it back for me and die, in the name of Jesus.
170. Anointing over my life to be popular for tragedy, dry up by the blood of Jesus, in the name of Jesus.
171. Powers preparing new problems for a new age for me, be suddenly wasted, in the name of Jesus.
172. Every rage of the dead to make me run an errand for them, shut up and die, in the name of Jesus.
173. Strange eyes of the wicked elders, hiding in my head to kill my breakthrough, come out and catch fire, in the name of Jesus.
174. Powers keeping me in an unwanted situation, leave my life alone and die, in the name of Jesus.
175. Iron-like problems disturbing me from moving forward , be terminated now, in the name of Jesus.
176. Strange powers selling me to strange places, blood of Jesus, buy me back, in the name of Jesus.
177. O God, arise and surprise the camp of my enemies with stormy fire, in the name of Jesus.
178. Powers making my day miserable, die suddenly, in the name of Jesus.
179. The sacrifice of darkness putting my life in a situation that I cannot explain, catch fire, in the name of Jesus.
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate level, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained includes staffs of Dangote Refinery, FCMB, Zenith Bank, New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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CRMNUGGETS is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
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In my first programming classes, we needed to work just with Windows and a Linux virtual machine I worked mostly with C# and visual studio, the lab PCs we utilized at my college were consistently Windows machines.
I continued utilizing a Windows PC since that is the thing that I’ve been utilizing for every one of my classes, I never truly needed to contemplate whether I should utilize a Mac, I had Windows and VM Linux on a similar machine, it was adequate for me.
I hear numerous individuals instructing me to change to a Mac, I’m not detesting on Macintosh or anything, I’ve generally favoured Windows, you pick a PC since it’s the most sufficient with your need and what innovation you are working with.
Either will turn out great, yet you may likewise need to consider what you’re teachers will utilize particularly when you are a learner. I utilize a Windows PC, and the vast majority of my instructors and my friends use Windows.
I get along fine however some of the time I need to locate my own particular manner if the instructor’s favoured devices aren’t accessible on Windows like homemade libation or other stuff.
1. The cost
Alright let’s face it here, Macs are generally more costly than Windows PCs, we can’t all bear to get one, I feel like the cost is excessively high for the framework and equipment you get, I went through less cash for comparable more execution.
You normally get substantially more equipment for your cash when you purchase a Windows-based PC. Probably the best thing about Windows gadgets right now is that they offer such an assortment to clients as should be obvious with Dell XPS 15.
The cheapest MacBook Pro 15-inch is more expensive than the second-from-top-end Dell XPS 15, which is slightly more powerful than its Apple-made rival.
2. Security
Macs tend to be safer against malware, viruses, and other tools of the trade for malicious hackers. And since Apple’s Mac operating system is built on Unix, ’s a little more secure by default than Windows, Macworld reports.
3. APPLICATIONS AND UX
The second 50% of the Mac achievement dyad is, as referenced, its charming and exquisite UI and its wide accessibility of great applications.
For what reason was that such a distinct advantage?
To begin with, remember that engineers are likewise ending clients, and they also appreciate utilizing cleaned, easy-to-use, incredible-looking, and productive applications. Who wouldn’t?
We likewise can’t disregard history.
The advancement of Apple items—particularly MacBooks—among designers matched with a period when web improvement began to turn out to be progressively complex and to require more specific devices.
The macOS X climate was prepared to satisfy the need with word processors, bundle administrators, and a lot more applications that didn’t generally have rivals among its rivals.
In this way, an ever-increasing number of engineers began embracing these machines due to the—exact—observation that they offered the best climate for improvement.
That produces an intriguing temperate circle: The stage pulls in designers, who at that point make more apparatuses to make their carries on simpler.
That, thusly, makes the stage more alluring, which brings significantly more designers, and the inevitable outcome follows.
4. Programming
For programming, the two stages are similarly useful for engineers and it truly relies upon what instruments you need, and for which stages they are accessible, relies upon what language as well as which structures you plan to utilize.
On the off chance that you are intending to work in Visual Studio, SQL Worker, C#, and .NET it is smarter to create on a PC it just ran better and felt better on Windows.
Most Python and C stuff occur in Best Linux Distros. You actually could do that all in Windows, yet particularly beginning, it will likely be less work for you and less disappointing, in the event that you simply introduce a Linux VM and utilize that all things being equal.
In the event that you need to create for OS X or iPhone, Ruby/Rails stuff, change to a Mac. You, in fact, could do that on Windows as well, however for those networks, it’s not the normal show, you’d be battling with your framework more than others in the event that you need to send to the iOS application store, you need a Mac.
Some toolchains permit you to create/test iOS programming on Windows machines, yet you should be on a Mac to really transfer it.
HOW DO I CHOOSE WHAT’S BEST FOR ME?
The main factor is the kind of advancement being finished. For example, iOS improvement requires a gadget running MacOS X, so the decision here isn’t generally a decision.
For web improvement, Macs will, in general, be a great decision, yet so is Linux. Contingent upon the tech stack so is Windows. Discussing which, Windows is the conspicuous way for creating Windows applications and administrations, and it’s a strong decision for big business programming by and large.
The subsequent thing to consider is your own inclination. On the off chance that you like Macs—in case you’re pulled in by their stylish, the proposal of uses, and the general Apple biological system—at that point let it all out! (Shockingly, we need to add a proviso here. In numerous locales of the world, Apple gadgets are restrictively costly, so moderation is something else that must be considered in.)
In the event that you need to turn into a software engineer, however, don’t claim a Mac—regardless of whether this is on the grounds that you don’t care for Apple items or on the grounds that you can’t bear the cost of them—that is not an issue! You can turn into a software engineer at any stage.
The PC you as of now have and a web association (which you clearly as of now have) are all you require to begin on your excursion.
This post was composed via Carlos Schults. Carlos is a .NET programming engineer with involvement in both work area and web advancement, and he’s currently taking a stab at portable.
He has an enthusiasm for composing perfect and compact code, and he’s keen on rehearses that assist you with improving application wellbeing, for example, code survey, mechanized testing, and ceaseless form.
CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
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Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
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QUESTION 201 Which process is conducted from project inception through completion and is ultimately the responsibility of the project manager? A. Control Quality B. Monitor and Control Project Work C. Control Scope D. Perform Integrated Change Control Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: Process: 4.5 Perform Integrated Change Control Definition: Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates QUESTION 202 Project management processes ensure the: A. alignment with organizational strategy B. efficient means to achieve the project objectives C. performance of the project team D. effective flow of the project throughout its life cycle Correct Answer: D Section: Volume B CAPM www.Dumpsgate.com .com 124 Explanation Explanation/Reference: Explanation: Project management processes. These processes ensure the effective flow of the project throughout its life cycle. These processes encompass the tools and techniques involved in applying the skills and capabilities described in the Knowledge Areas (Sections 4 through 13) QUESTION 203 An element of the modern quality management approach used to achieve compatibility with the International Organization for Standardization (ISO) is known as: A. Forecasting, B. Brainstorming. C. Historical databases. D. Cost of quality. Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: Cost of quality (COQ). Cost of quality refers to the total cost of the conformance work and the nonconformance work that should be done as a compensatory effort because, on the first attempt to perform that work, the potential exists that some portion of the required work effort may be done or has been done incorrectly. The costs for quality work may be incurred throughout the deliverable’s life cycle. For example, decisions made by the project team can impact the operational costs associated with using a completed deliverable. Post-project quality costs may be incurred because of product returns, warranty claims, and recall campaigns. Therefore, because of the temporary nature of projects and the potential benefits that may be derived from reducing the post-project cost of quality, sponsoring organizations may choose to invest in product quality improvement. These investments generally are made in the areas of conformance work that act to prevent defects or act to mitigate the costs of defects by inspecting out nonconforming units. QUESTION 204 Which items are components of a project management plan? A. Change management plan, process improvement plan, and scope management plan B. Agreements, procurement management plan, and work performance information C. Schedule management plan, project schedule, and resource calendars D. Scope baseline, project statement of work, and requirements traceability matrix Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 205 Which project document is updated in the Control Stakeholder Engagement process? A. Project reports B. Issue log C. Lessons learned documentation D. Work performance information CAPM www.Dumpsgate.com .com 125 Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: 13.4.1.2 Issue Log Described in Section 13.3.3.1. The issue log is updated as new issues are identified and current issues are resolved. 9.4.1.4 Issue Log Issues arise in the course of managing the project team. An issue log can be used to document and monitor who is responsible for resolving specific issues by a target date. Process: 13.4 Control Stakeholder Engagement Definition: The process of monitoring overall project stakeholder relationships and adjusting strategies and plans for engaging stakeholders. Key Benefit: The key benefit of this process is that it will maintain or increase the efficiency and effectiveness of stakeholder engagement activities as the project evolves and its environment changes. Inputs 1. Project management plan 2. Issue log 3. Work performance data 4. Project documents Tools & Techniques 1. Information management systems 2. Expert judgment 3. Meetings Outputs 1. Work performance information 2. Change requests 3. Project management plan updates 4. Project documents updates 5. Organizational process assets updates QUESTION 206 A project manager should communicate to stakeholders about resolved project issues by updating the: A. project records B. project reports C. stakeholder notifications D. stakeholder register Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 10.2.3.4 Organizational Process Assets Updates The organizational process assets, which may be updated include, but are not limited to: Stakeholder notifications. Information may be provided to stakeholders about resolved issues, approved changes, and general project status. CAPM www.Dumpsgate.com .com 126 Project reports. Formal and informal project reports describe project status and include lessons learned, issue logs, project closure reports, and outputs from other Knowledge Areas (Sections 4-13). Project presentations. The project team provides information formally or informally to any or all of the project stakeholders. The information and presentation method should be relevant to the needs of the audience. Project records. Project records may include correspondence, memos, meeting minutes, and other documents describing the project. This information should, to the extent possible and appropriate, be maintained in an organized manner. Project team members can also maintain records in a project notebook or register, which could be physical or electronic. Feedback from stakeholders. Information received from stakeholders concerning project operations is distributed and used to modify or improve future performance of the project. Lessons learned documentation. Documentation includes the causes of issues, reasoning behind the corrective action chosen, and other types of lessons learned about communications management. Lessons learned need to be documented and distributed so that it becomes part of the historical database for both the project and the performing organization. QUESTION 207 Which Project Time Management process includes bottom-up estimating as a tool or technique? A. Estimate Activity Resources B. Sequence Activities C. Estimate Activity Durations D. Develop Schedule Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 6.4 Estimate Activity Resources Definition: The process of estimating the type and quantities of material, human resources, equipment, or supplies required to perform each activity. Key Benefit: The key benefit of this process is that it identifies the type, quantity, and characteristics of resources required to complete the activity which allows more accurate cost and duration estimates. Inputs 1. Schedule management plan 2. Activity list 3. Activity attributes 4. Resource calendars 5. Risk register 6. Activity cost estimates 7. Enterprise environmental factors 8. Organizational process assets Tools & Techniques 1. Expert judgment 2. Alternative analysis 3. Published estimating data 4. Bottom-up estimating 5. Project management software Outputs 1. Activity resource requirements 2. Resource breakdown structure 3. Project documents updates CAPM www.Dumpsgate.com .com 127 QUESTION 208 Progressively elaborating high-level information into detailed plans is performed by the: A. project management office B. portfolio manager C. program manager D. project manager Correct Answer: D Section: Volume B Explanation Explanation/Reference: QUESTION 209 An input to the Control Quality process is: A. Activity attributes B. Quality control measurements C. Enterprise environmental factors D. Deliverables Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: Process: 8.3 Control Quality Definition: The process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes. Key Benefit: The key benefits of this process include: (1) identifying the causes of poor process or product quality and recommending and/or taking action to eliminate them; and (2) validating that project deliverables and work meet the requirements specified by key stakeholders necessary for final acceptance. Inputs 1. Project management plan 2. Quality metrics 3. Quality checklists 4. Work performance data 5. Approved change requests 6. Deliverables 7. Project documents 8. Organizational process assets Tools & Techniques 1. Seven basic quality tools 2. Statistical sampling 3. Inspection 4. Approved change requests review Outputs 1. Quality control measurements 2. Validated changes 3. Verified deliverables CAPM www.Dumpsgate.com .com 128 4. Work performance information 5. Change requests 6. Project management plan updates 7. Project documents updates 8. Organizational process assets updates QUESTION 210 The chart below is an example of a: A. Responsibility assignment matrix (RAM) B. Work breakdown structure (WBS) C. RACI chart D. Requirements traceability matrix Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 5.2.3.2 Requirements Traceability Matrix The requirements traceability matrix is a grid that links product requirements from their origin to the deliverables that satisfy them. The implementation of a requirements traceability matrix helps ensure that each requirement adds business value by linking it to the business and project objectives. It provides a means to track requirements throughout the project life cycle, helping to ensure that requirements approved in the requirements documentation are delivered at the end of the project. Finally, it provides a structure for managing changes to the product scope. Tracing includes, but is not limited to, tracing requirements for the following: Business needs, opportunities, goals, and objectives; Project objectives; Project scope/WBS deliverables; Product design; Product development; Test strategy and test scenarios; and High-level requirements to more detailed requirements. Attributes associated with each requirement can be recorded in the requirements traceability matrix. These attributes help to define key information about the requirement. Typical attributes used in the requirements traceability matrix may include: a unique identifier, a textual description of the requirement, the rationale for inclusion, owner, source, priority, version, current status (such as active, cancelled, deferred, added, approved, assigned, completed), and status date. Additional attributes to ensure that the requirement has met stakeholders’ satisfaction may include stability, complexity, and acceptance criteria. QUESTION 211 Which Perform Quality Assurance tool or technique is used to identify a problem, discover the underlying causes that lead to it, and develop preventative actions? A. Inspection CAPM www.Dumpsgate.com .com 129 B. Quality audits C. Design of experiments D. Root cause analysis Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: Root cause analysis. Root-cause analysis is a specific technique used to identify a problem, discover the underlying causes that lead to it, and develop preventive action. Process: 8.2 Perform Quality Assurance Definition: The process of auditing the quality requirements and the results from quality control measurements to ensure that appropriate quality standards and operational definitions are used. Key Benefit: The key benefit of this process is that it facilitates the improvement of quality processes. Inputs 1. Quality management plan 2. Process improvement plan 3. Quality metrics 4. Quality control measurements 5. Project documents Tools & Techniques 1. Quality management and control tools 2. Quality audits 3. Process analysis Outputs 1. Change requests 2. Project management plan updates 3. Project documents updates 4. Organizational process assets updates QUESTION 212 A disadvantage associated with virtual teams is that they: A. Require communication technology that is not readily available. B. Create difficulties when including people with disabilities. C. Often cannot accommodate teams that work different hours or shifts. D. Create the possibility for misunderstandings to arise. Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 9.2.2.4 Virtual Teams The use of virtual teams creates new possibilities when acquiring project team members. Virtual teams can be defined as groups of people with a shared goal who fulfill their roles with little or no time spent meeting face to face. The availability of communication technology such as e-mail, audio conferencing, social media, web- based meetings and video conferencing has made virtual teams feasible. The virtual team model makes it possible to: Form teams of people from the same organization who live in widespread geographic areas; CAPM www.Dumpsgate.com .com 130 Add special expertise to a project team even though the expert is not in the same geographic area; Incorporate employees who work from home offices; Form teams of people who work different shifts, hours, or days; Include people with mobility limitations or disabilities; and Move forward with projects that would have been ignored due to travel expenses. There are some disadvantages related to virtual teams, such as possibility for misunderstandings, feeling of isolation, difficulties in sharing knowledge and experience between team members, and cost of appropriate technology. Communication planning becomes increasingly important in a virtual team environment. Additional time may be needed to set clear expectations, facilitate communications, develop protocols for resolving conflict, include people in decision making, understand cultural differences, and share credit in successes. QUESTION 213 In which phase of team building activities do team members begin to work together and adjust their work habits and behavior to support the team? A. Performing B. Storming C. Norming D. Forming Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: One of the models used to describe team development is the Tuckman ladder (Tuckman, 1965; Tuckman & Jensen, 1977), which includes fve stages of development that teams may go through. Although it’s common for these stages to occur in order, it’s not uncommon for a team to get stuck in a particular stage or slip to an earlier stage. Projects with team members who worked together in the past may skip a stage. Forming. This phase is where the team meets and learns about the project and their formal roles and responsibilities. Team members tend to be independent and not as open in this phase. Storming. During this phase, the team begins to address the project work, technical decisions, and the project management approach. If team members are not collaborative and open to differing ideas and perspectives, the environment can become counterproductive. Norming. In the norming phase, team members begin to work together and adjust their work habits and behaviors to support the team. The team learns to trust each other. Performing. Teams that reach the performing stage function as a well-organized unit. They are interdependent and work through issues smoothly and effectively. Adjourning. In the adjourning phase, the team completes the work and moves on from the project. This typically occurs when staff is released from the project as deliverables are completed or as part of carrying out the Close Project or Phase process (Section 4.6). The duration of a particular stage depends upon team dynamics, team size, and team leadership. Project managers should have a good understanding of team dynamics in order to move their team members through all stages in an effective manner. QUESTION 214 Which project risk listed in the table below is most likely to occur? CAPM www.Dumpsgate.com .com 131 A. 1 B. 2 C. 3 D. 4 Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 215 Which is an enterprise environmental factor? A. Marketplace conditions B. Policies and procedures C. Project files from previous projects D. Lessons learned from previous projects Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 216 Project Stakeholder Management focuses on: A. project staff assignments B. project team acquisition C. managing conflicting interests D. communication methods Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: PROJECT STAKEHOLDER MANAGEMENT Project Stakeholder Management includes the processes required to identify the people, groups, or CAPM www.Dumpsgate.com .com 132 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 QUESTION 217 A risk that arises as a direct result of implementing a risk response is called a: A. contingent risk B. residual risk C. potential risk D. secondary risk Correct Answer: D Section: Volume B Explanation Explanation/Reference: 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. QUESTION 218 The purpose of developing a project scope management plan is to: A. Manage the timely completion of the project. B. Ensure that the project includes all of the work required. C. Make sure the project will satisfy the needs for which it was begun. D. Reduce the risk of negative events in the project. Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 219 A tool and technique used in the Develop Project Charter process is: A. change control tools B. expert judgment C. meetings D. analytical techniques Correct Answer: B Section: Volume B CAPM www.Dumpsgate.com .com 133 Explanation Explanation/Reference: 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 CAPM www.Dumpsgate.com .com 134 QUESTION 220 The following chart contains information about the tasks in a project. Based on the chart, what is the cost performance index (CPI) for Task 2? A. 0.8 B. 1 C. 1.25 D. 1.8 Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 221 The following chart contains information about the tasks in a project. CAPM www.Dumpsgate.com .com 135 Based on the chart, what is the schedule variance (SV) for Task 8? A. -2,000 B. -1,000 C. 1,000 D. 2,000 Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 222 The following chart contains information about the tasks in a project. CAPM www.Dumpsgate.com .com 136 Based on the chart, what is the cost variance (CV) for Task 6? A. -2,000 B. 0 C. 1,000 D. 2,000 Correct Answer: D Section: Volume B Explanation Explanation/Reference: QUESTION 223 The following chart contains information about the tasks in a project. CAPM www.Dumpsgate.com .com 137 Based on the chart, what is the schedule performance index (5PI) for Task 4? A. 0.83 B. 0.9 C. 1.11 D. 1.33 Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 224 One of the key benefits of the Plan Human Resource Management process is that it: A. outlines team selection guidelines and team member responsibilities. B. establishes project roles and responsibilities. C. improves teamwork, interpersonal skills, and competencies. D. provides an accurate appraisal of team member performance. Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: Process: 9.1 Plan Human Resource Management Definition: The process of identifying and documenting project roles, responsibilities, required skills, reporting relationships, and creating a staffing management plan. Key Benefit: The key benefit of this process is that it establishes project roles and responsibilities, project organization charts, and the staffing management plan including the timetable for staff acquisition and release. CAPM www.Dumpsgate.com .com 138 Inputs 1. Project management plan 2. Activity resource requirements 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Organization charts and position descriptions 2. Networking 3. Organizational theory 4. Expert judgment 5. Meetings Outputs 1. Human resource management plan QUESTION 225 Which Define Activities tool or technique is used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts? A. Decomposition B. Inspection C. Project analysis D. Document analysis Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 5.4.2.1 Decomposition Decomposition is a technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts. The work package is the work defined at the lowest level of the WBS for which cost and duration can be estimated and managed. The level of decomposition is often guided by the degree of control needed to effectively manage the project. The level of detail for work packages will vary with the size and complexity of the project. Decomposition of the total project work into work packages generally involves the following activities: Identifying and analyzing the deliverables and related work; Structuring and organizing the WBS; Decomposing the upper WBS levels into lower-level detailed components; Developing and assigning identification codes to the WBS components; and Verifying that the degree of decomposition of the deliverables is appropriate. Process: 6.2 Define Activities Definition: The process of identifying and documenting the specific actions to be performed to produce the project deliverables. Key Benefit: The key benefit of this process is to break down work packages into activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work. Inputs 1. Schedule management plan 2. Scope baseline 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques CAPM www.Dumpsgate.com .com 139 1. Decomposition 2. Rolling wave planning 3. Expert judgment Outputs 1. Activity list 2. Activity attributes 3. Milestone list QUESTION 226 Which type of analysis is used to determine the cause and degree of difference between the baseline and actual performance? A. Schedule network analysis B. Reserve analysis C. Alternative analysis D. Variance analysis Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 5.6.2.1 Variance Analysis Variance analysis is a technique for determining the cause and degree of difference between the baseline and actual performance. Project performance measurements are used to assess the magnitude of variation from the original scope baseline. Important aspects of project scope control include determining the cause and degree of variance relative to the scope baseline (Section 5.4.3.1) and deciding whether corrective or preventive action is required. QUESTION 227 A project’s purpose or justification, measurable project objectives and related success criteria, a summary milestone schedule, and a summary budget are all components of which document? A. Work breakdown structure B. Requirements document C. Project charter D. Project management plan Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 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, CAPM www.Dumpsgate.com .com 140 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 QUESTION 228 In the Define Activities process, the schedule management plan is used to: A. Capture the lessons learned from other projects for comparison. B. Contain the standard activity list. C. Document and support the project change requests. D. Prescribe the level of detail needed to manage the work. Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 6.1.3.1 Schedule Management Plan A component of the project management plan that establishes the criteria and the activities for developing, monitoring, and controlling the schedule. The schedule management plan may be formal or informal, highly detailed or broadly framed, based upon the needs of the project, and includes appropriate control thresholds. For example, the schedule management plan can establish the following: Project schedule model development. The scheduling methodology and the scheduling tool to be used in the development of the project schedule model are specified. Level of accuracy. The acceptable range used in determining realistic activity duration estimates is specified and may include an amount for contingencies. Units of measure. Each unit used in measurements (such as staff hours, staff days, or weeks for time measures, or meters, liters, tons, kilometers, or cubic yards for quantity measures) is defined for each of the CAPM www.Dumpsgate.com .com 141 resources. Organizational procedures links. The WBS (Section 5.4) provides the framework for the schedule management plan, allowing for consistency with the estimates and resulting schedules. Project schedule model maintenance. The process used to update the status and record progress of the project in the schedule model during the execution of the project is defined. Control thresholds. Variance thresholds for monitoring schedule performance may be specified to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken. Thresholds are typically expressed as percentage deviations from the parameters established in the baseline plan. Rules of performance measurement. Earned value management (EVM) rules or other physical measurement rules of performance measurement are set. For example, the schedule management plan may specify: ○○ Rules for establishing percent complete, ○○ Control accounts at which management of progress and schedule will be measured, ○○ Earned value measurement techniques (e.g., baselines, fixed-formula, percent complete, etc.) to be employed (for more specific information, refer to the Practice Standard for Earned Value Management) [9], ○○ Schedule performance measurements such as schedule variance (SV) and schedule performance index (SPI) used to assess the magnitude of variation to the original schedule baseline. Reporting formats. The formats and frequency for the various schedule reports are defined. Process descriptions. Descriptions of each of the schedule management processes are documented. Process: 6.2 Define Activities Definition: The process of identifying and documenting the specific actions to be performed to produce the project deliverables. Key Benefit: The key benefit of this process is to break down work packages into activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work. Inputs Schedule management plan 1. Scope baseline 2. Enterprise environmental factors 3. Organizational process assets Tools & Techniques 1. Decomposition 2. Rolling wave planning 3. Expert judgment Outputs 1. Activity list 2. Activity attributes 3. Milestone list QUESTION 229 A project team attempts to produce a deliverable and finds that they have neither the expertise nor the time to complete the deliverable in a timely manner. This issue could have been avoided if they had created and followed a: A. risk management plan B. human resource management plan C. scope management plan D. procurement management plan Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: CAPM www.Dumpsgate.com .com 142 12.1.3.1 Procurement Management Plan The procurement management plan is a component of the project management plan that describes how a project team will acquire goods and services from outside the performing organization. It describes how the procurement processes will be managed from developing procurement documents through contract closure. The procurement management plan can include guidance for: Types of contracts to be used; Risk management issues; Whether independent estimates will be used and whether they are needed as evaluation criteria; Those actions the project management team can take unilaterally, if the performing organization has a prescribed procurement, contracting, or purchasing department; Standardized procurement documents, if needed; Managing multiple suppliers; Coordinating procurement with other project aspects, such as scheduling and performance reporting; Any constraints and assumptions that could affect planned procurements; Handling the long lead times to purchase certain items from sellers and coordinating the extra time needed to procure these items with the development of the project schedule; Handling the make-or-buy decisions and linking them into the Estimate Activity Resources and Develop Schedule processes Setting the scheduled dates in each contract for the contract deliverables and coordinating with the schedule development and control processes; Identifying requirements for performance bonds or insurance contracts to mitigate some forms of project risk; Establishing the direction to be provided to the sellers on developing and maintaining a work breakdown structure (WBS); Establishing the form and format to be used for the procurement/contract statements of work; Identifying prequalified sellers, if any, to be used; and Procurement metrics to be used to manage contracts and evaluate sellers. A procurement management plan can be formal or informal, can be highly detailed or broadly framed, and is based upon the needs of each project. QUESTION 230 A benefit of using virtual teams in the Acquire Project Team process is the reduction of the: A. cultural differences of team members B. possibility of communication misunderstandings C. costs associated with travel D. costs associated with technology Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 9.2.2.4 Virtual Teams The use of virtual teams creates new possibilities when acquiring project team members. Virtual teams can be defined as groups of people with a shared goal who fulfill their roles with little or no time spent meeting face to face. The availability of communication technology such as e-mail, audio conferencing, social media, web- based meetings and video conferencing has made virtual teams feasible. The virtual team model makes it possible to: Form teams of people from the same organization who live in widespread geographic areas; Add special expertise to a project team even though the expert is not in the same geographic area; Incorporate employees who work from home offices; Form teams of people who work different shifts, hours, or days; Include people with mobility limitations or disabilities; and Move forward with projects that would have been ignored due to travel expenses. CAPM www.Dumpsgate.com .com 143 There are some disadvantages related to virtual teams, such as possibility for misunderstandings, feeling of isolation, difficulties in sharing knowledge and experience between team members, and cost of appropriate technology. Communication planning becomes increasingly important in a virtual team environment. Additional time may be needed to set clear expectations, facilitate communications, develop protocols for resolving conflict, include people in decision making, understand cultural differences, and share credit in successes. QUESTION 231 Those who enter into a contractual agreement to provide services necessary for a project are: A. buyers B. sellers C. business partners D. product users Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 232 Project managers who lead by example and follow through on the commitments they make demonstrate the key interpersonal skill of: A. influencing B. leadership C. motivation D. coaching Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 233 Which items are an output of the Perform Integrated Change Control process? A. Work performance reports B. Accepted deliverables C. Project management plan updates D. Organizational process assets Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Process: 4.5 Perform Integrated Change Control Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the CAPM www.Dumpsgate.com .com 144 changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates QUESTION 234 Which term describes an assessment of correctness? A. Accuracy B. Precision C. Grade D. Quality Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Accuracy. Within the quality management system, accuracy is an assessment of correctness QUESTION 235 The cost baseline and project funding requirements are outputs of which process in Project Cost Management? A. Estimate Costs B. Control Costs C. Plan Cost Management D. Determine Budget Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 7.3.3.1 Cost Baseline The 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 CAPM www.Dumpsgate.com .com 145 comparison to actual results. It is developed as a summation of the approved budgets for the different schedule activities. Process: 7.3 Determine Budget Definition: The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled. Inputs 1. Cost management plan 2. Scope baseline 3. Activity cost estimates 4. Basis of estimates 5. Project schedule 6. Resource calendars 7. Risk register 8. Agreements 9. Organizational process assets Tools & Techniques 1. Cost aggregation 2. Reserve analysis 3. Expert judgment 4. Historical relationships 5. Funding limit reconciliation Outputs 1. Cost baseline 2. Project funding requirements 3. Project documents updates QUESTION 236 The Project Human Resource Management process that involves confirming human resource availability and obtaining the team necessary to complete project activities is: A. Acquire Project Team. B. Plan Human Resource Management. C. Manage Project Team. D. Develop Project Team. Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 9.2 Acquire Project Team Definition: The process of confirming human resource availability and obtaining the team necessary to complete project activities. Key Benefit: The key benefit of this process consists of outlining and guiding the team selection and responsibility assignment to obtain a successful team. Inputs 1. Human resource management plan 2. Enterprise environmental factors 3. Organizational process assets Tools & Techniques 1. Pre-assignment CAPM www.Dumpsgate.com .com 146 2. Negotiation 3. Acquisition 4. Virtual teams 5. Multi-criteria decision analysis Outputs 1. Project staff assignments 2. Resource calendars 3. Project management plan updates QUESTION 237 At the start of a typical project life cycle, costs are: A. low, peak as work is carried out, and drop as the project nears the end. B. low, become steady as work is carried out, and increase as the project nears the end. C. high, drop as work is carried out, and increase as the project nears the end. D. high, become low as work is carried out, and drop as the project nears the end. Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 238 Success is measured by benefits realization for a: A. strategic plan B. project C. portfolio D. program Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 1.4.2 Portfolio Management A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related. For example, an infrastructure firm that has the strategic objective of “maximizing the return on its investments” may put together a portfolio that includes a mix of projects in oil and gas, power, water, roads, rail, and airports. From this mix, the firm may choose to manage related projects as one program. All of the power projects may be grouped together as a power program. Similarly, all of the water projects may be grouped together as a water program. Thus, the power program and the water program become integral components of the enterprise portfolio of the infrastructure firm. QUESTION 239 Organizational process assets, a lessons-learned database, and historical information are all inputs to which process? A. Plan Cost Management B. Plan Scope Management CAPM www.Dumpsgate.com .com 147 C. Plan Stakeholder Management D. Plan Schedule Management Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 240 A project team member agrees to change a project deliverable after a conversation with an external stakeholder. It is later discovered that the change has had an adverse effect on another deliverable. This could have been avoided if the project team had implemented: A. Quality assurance. B. A stakeholder management plan. C. Project team building. D. Integrated change control. Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: Process: 4.5 Perform Integrated Change Control Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates QUESTION 241 The process of defining how the project scope will be validated and controlled is known as: CAPM www.Dumpsgate.com .com 148 A. Define Scope. B. Develop Project Management Plan. C. Plan Scope Management. D. Plan Quality Management. Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Process: 5.1 Plan Scope Management Definition: The process of creating a scope management plan that documents how the project scope will be defined, validated, and controlled. Key Benefit: The key benefit of this process is that it provides guidance and direction on how scope will be managed throughout the project. Inputs 1. Project management plan 2. Project charter 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings Outputs 1. Scope management plan 2. Requirements management plan QUESTION 242 Technical capability, past performance, and intellectual property rights are examples of: A. performance measurement criteria B. source selection criteria C. product acceptance criteria D. phase exit criteria Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 243 The methodology that combines scope, schedule, and resource measurements to assess project performance and progress is known as: A. Earned value management. B. Forecasting. C. Critical chain methodology. D. Critical path methodology. CAPM www.Dumpsgate.com .com 149 Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 7.4.2.1 Earned Value Management Earned value management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress. It is a commonly used method of performance measurement for projects. It integrates the scope baseline with the cost baseline, along with the schedule baseline, to form the performance measurement baseline, which helps the project management team assess and measure project performance and progress. It is a project management technique that requires the formation of an integrated baseline against which performance can be measured for the duration of the project. QUESTION 244 Which process is usually a rapid and cost-effective means of establishing priorities for Plan Risk Responses? A. Identify Risks B. Plan Risk Management C. Perform Qualitative Risk Analysis D. Perform Quantitative Risk Analysis Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Perform Qualitative Risk Analysis assesses the priority of identified risks using their relative probability or likelihood of occurrence, the corresponding impact on project objectives if the risks occur, as well as other factors such as the time frame for response and the organization’s risk tolerance associated with the project constraints of cost, schedule, scope, and quality. Such assessments reflect the risk attitude of the project team and other stakeholders. Effective assessment therefore requires explicit identification and management of the risk approaches of key participants in the Perform Qualitative Risk Analysis process. Where these risk approaches introduce bias into the assessment of identified risks, attention should be paid to identifying bias and correcting for it. Establishing definitions of the levels of probability and impact can reduce the influence of bias. The time criticality of risk-related actions may magnify the importance of a risk. An evaluation of the quality of the available information on project risks also helps to clarify the assessment of the risk’s importance to the project. Perform Qualitative Risk Analysis is usually a rapid and cost-effective means of establishing priorities for Plan Risk Responses and lays the foundation for Perform Quantitative Risk Analysis, if required. The Perform Qualitative Risk Analysis process is performed regularly throughout the project life cycle, as defined in the project’s risk management plan. This process can lead into Perform Quantitative Risk Analysis (Section 11.4) or directly into Plan Risk Responses (Section 11.5). Process: 11.3 Perform Qualitative Risk Analysis Definition: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. Key Benefit: The key benefit of this process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks. Inputs 1. Risk management plan 2. Scope baseline 3. Risk register 4. Enterprise environmental factors CAPM www.Dumpsgate.com .com 150 5. Organizational process assets Tools & Techniques 1. Risk probability and impact assessment 2. Probability and impact matrix 3. Risk data quality assessment 4. Risk categorization 5. Risk urgency assessment 6. Expert judgment Outputs 1. Project documents updates QUESTION 245 A special type of bar chart used in sensitivity analysis for comparing the relative importance of the variables is called a: A. triangular distribution B. tornado diagram C. beta distribution D. fishbone diagram Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: 11.4.2.2 Quantitative Risk Analysis and Modeling Techniques page 337 Commonly used techniques use both event-oriented and project-oriented analysis approaches, including: • Sensitivity analysis. Sensitivity analysis helps to determine which risks have the most potential impact on the project. It helps to understand how the variations in project’s objectives correlate with variations in different uncertainties. Conversely, it examines the extent to which the uncertainty of each project element affects the objective being studied when all other uncertain elements are held at their baseline values. One typical display of sensitivity analysis is the tornado diagram (Figure 11-15), which is useful for comparing relative importance and impact of variables that have a high degree of uncertainty to those that are more stable. The Tornado diagram is also helpful in analyzing risk-taking scenarios enabled on specific risks whose quantitative analysis highlights possible benefits greater than corresponding identified negative impacts. A tornado diagram is a special type of bar chart used in sensitivity analysis for comparing the relative importance of the variables. In a tornado diagram, the Y-axis contains each type of uncertainty at base values, and the X- axis contains the spread or correlation of the uncertainty to the studied output. In this figure, each uncertainty contains a horizontal bar and is ordered vertically to show uncertainties with a decreasing spread from the base values. QUESTION 246 A full-time project manager with low to moderate authority and part-time administrative staff is working in an organizational structure with which type of matrix? A. Strong B. Weak C. Managed D. Balanced Correct Answer: D Section: Volume B Explanation CAPM www.Dumpsgate.com .com 151 Explanation/Reference: Explanation: Project managers have the highest level of power and authority in a projectized organization. They also have high levels of power and authority in a strong matrix; however, a matrix organization is a blend of functional and projectized organizations, and therefore, the project manager does not have quite the same level of authority as they would in a projectized organization. QUESTION 247 Project Scope Management is primarily concerned with: A. Developing a detailed description of the project and product. B. Determining how requirements will be analyzed, documented, and managed. C. Defining and controlling what is and is not included in the project. D. Formalizing acceptance of the completed project deliverables. Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Project Scope Management Project Scope Management includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. Managing the project scope is primarily concerned with defining and controlling what is and is not included in the project. QUESTION 248 For a stakeholder with low interest and high power, the project manager should: A. Monitor the stakeholder. B. Manage the stakeholder closely. C. Keep the stakeholder satisfied. D. Keep the stakeholder informed. Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 249 In a typical project, project managers spend most of their time: A. Estimating B. Scheduling C. Controlling D. Communicating Correct Answer: D Section: Volume B Explanation Explanation/Reference: CAPM www.Dumpsgate.com .com 152 QUESTION 250 When closing a project or phase, part of the process may require the use of which type of analysis? A. Reserve analysis B. Regression analysis C. Document analysis D. Product analysis Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: Regression Analysis. An analytic technique where a series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship. 4.4.2.2 Analytical Techniques Analytical techniques are applied in project management to forecast potential outcomes based on possible variations of project or environmental variables and their relationships with other variables. Examples of analytical techniques used in projects are: Regression analysis, Grouping methods, Causal analysis, Root cause analysis, Forecasting methods (e.g., time series, scenario building, simulation, etc.), Failure mode and effect analysis (FMEA), Fault tree analysis (FTA), Reserve analysis, Trend analysis, Earned value management, and Variance analysis.
Here is a continuation of the CAPM question and answer series
QUESTION 151
The degree, amount, or volume of risk that an organization or individual will withstand is known as its risk: A. Analysis B. Appetite C. Tolerance D. Response Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 11 PROJECT RISK MANAGEMENT [..] Organizations perceive risk as the effect of uncertainty on projects and organizational objectives. Organizations and stakeholders are willing to accept varying degrees of risk depending on their risk attitude. The risk attitudes of both the organization and the stakeholderseverseveralby a number of factors, which are broadly classifed into three themes: Risk appetite, which is the degree of uncertainty an entity is willing to take on in anticipation of a reward. Risk tolerance, which is the degree, amount, or volume of risk that an organization or individual will withstand. Risk threshold, which refers to measures along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk. Above that risk threshold, the organization will not tolerate the risk. For example, an organization’s risk attitude may include its appetite for uncertainty, its threshold for risk levels that are unacceptable, or its risk tolerance at which point the organization may select a different risk response. Positive and negative risks are commonly referred to as opportunities and threats. The project may be accepted if the risks are within tolerances and are in balance with the rewards that may be gained by taking the risks. Positive risks that offer opportunities within the limits of risk tolerances may be pursued in order to generate enhanced value. For example, adopting an aggressive resource optimization technique is a risk taken in anticipation of a reward for using fewer resources. QUESTION 152 Project deliverables that have been completed and checked for correctness through the Control Quality process are known as: A. Verified deliverables. CAPM www.Dumpsgate.com .com 97 B. Validated deliverables. C. Acceptance criteria. D. Activity resource requirements. Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 8.3 Control Quality Definition: The process of monitoring and recording results of executing quality activities to assess performance and recommend necessary changes. Key Benefit: The key benefits of this process include: (1) identifying the causes of poor process or product quality and recommending and/or taking action to eliminate them; and (2) validating that project deliverables and work meet the requirements specified by key stakeholders necessary for final acceptance. Inputs 1. Project management plan 2. Quality metrics 3. Quality checklists 4. Work performance data 5. Approved change requests 6. Deliverables 7. Project documents 8. Organizational process assets Tools & Techniques 1. Seven basic quality tools 2. Statistical sampling 3. Inspection 4. Approved change requests review Outputs 1. Quality control measurements 2. Validated changes 3. Verified deliverables 4. Work performance information 5. Change requests 6. Project management plan updates 7. Project documents updates 8. Organizational process assets updates QUESTION 153 An output of the Perform Integrated Change Control process is: A. Deliverables. B. Validated changes. C. The change log. D. The requirements traceability matrix. Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: CAPM www.Dumpsgate.com .com 98 4.5.3.2 Change Log A change log is used to document changes that occur during a project. These changes and their impact to the project in terms of time, cost, and risk, are communicated to the appropriate stakeholders. Rejected change requests are also captured in the change log. Process: 4.5 Perform Integrated Change Control Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates QUESTION 154 During which process does the project team receive bids and proposals? A. Conduct Procurements B. Plan Procurements C. Estimate Costs D. Control Budget Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 12.2 Conduct Procurements Definition: The process of obtaining seller responses, selecting a seller, and awarding a contract. Key Benefit: The key benefit of this process is that it provides alignment of internal and external stakeholder expectations through established agreements. Inputs 1. Procurement management plan 2. Procurement documents 3. Source selection criteria 4. Seller proposals CAPM www.Dumpsgate.com .com 99 5. Project documents 6. Make-or-buy decisions 7. Procurement statement of work 8. Organizational process assets Tools & Techniques 1. Bidder conference 2. Proposal evaluation techniques 3. Independent estimates 4. Expert judgment 5. Advertising 6. Analytical techniques 7. Procurement negotiations Outputs 1. .Selected sellers 2. .Agreements 3. .Resource calendars 4. .Change requests 5. .Project management plan updates 6. .Project documents updates QUESTION 155 The process of monitoring the status of the project and product scope as well as managing the changes to the scope baseline is known as: A. Validate Scope. B. Plan Scope Management. C. Control Scope. D. Define Scope. Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 5.4.3.1 Scope Baseline The scope baseline is the approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, that can be changed only through formal change control procedures and is used as a basis for comparison. It is a component of the project management plan. Components of the scope baseline include: Project scope statement. The project scope statement includes the description of the project scope, major deliverables, assumptions, and constraints. WBS. The WBS is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables. Each descending level of the WBS represents an increasingly detailed definition of the project work. The WBS is finalized by assigning each work package to a control account and establishing a unique identifier for that work package from a code of accounts. These identifiers provide a structure for hierarchical summation of costs, schedule, and resource information. A control account is a management control point where scope, budget, actual cost, and schedule are integrated and compared to the earned value for performance measurement. Control accounts are placed at selected management points in the WBS. Each control account may include one or more work packages, but each of the work packages should be associated with only one control account. A control account may include one or more planning packages. A planning package is a work breakdown structure component below the control account with known work content but without detailed schedule activities. WBS dictionary. The WBS dictionary is a document that provides detailed deliverable, activity, and scheduling information about each component in the WBS. The WBS dictionary is a document that supports the WBS. Information in the WBS dictionary may include, but is not limited to: ○ Code of account identifier, ○ Description of work, CAPM www.Dumpsgate.com .com 100 ○ Assumptions and constraints, ○ Responsible organization, ○ Schedule milestones, ○ Associated schedule activities, ○ Resources required, ○ Cost estimates, ○ Quality requirements, ○ Acceptance criteria, ○ Technical references, and ○ Agreement information Process: 5.6 Control Scope Definition: The process of monitoring the status of the project and product scope and managing changes to the scope baseline. Key Benefit: The key benefit of this process is that it brings objectivity to the acceptance process and increases the chance of final product, service, or result acceptance by validating each deliverable. Inputs 1. Project management plan 2. Requirements documentation 3. Requirements traceability matrix 4. Work performance data 5. Organizational process assets Tools & Techniques 1. Variance analysis Outputs 1. Work performance information 2. Change requests 3. Project management plan updates 4. Project documents updates 5. Organizational process assets updates QUESTION 156 Which output is the approved version of the time-phased project budget? A. Resource calendar B. Scope baseline C. Trend analysis D. Cost baseline Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 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 Baseline The 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. QUESTION 157 CAPM www.Dumpsgate.com .com 101 The purpose of the Project Communications Management Knowledge Area is to: A. Monitor and control communications throughout the entire project life cycle. B. Maintain an optimal flow of information among all project participants. C. Develop an appropriate approach for project communications. D. Ensure timely and appropriate collection of project information. Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 10. Project Communications Management Project 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. QUESTION 158 Processes in the Initiating Process Group may be completed at the organizational level and be outside of the project’s: A. Level of control. B. Communication channels. C. Scope. D. Strategic alignment. Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 159 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? A. Result B. Product C. Service D. Improvement Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 160 Power, urgency, and legitimacy are attributes of which stakeholder classification model? A. Salience B. Influence/impact CAPM www.Dumpsgate.com .com 102 C. Power/interest D. Power/influence Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 13.1.2.1 Stakeholder Analysis Stakeholder 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”); and Salience 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). QUESTION 161 Through whom do project managers accomplish work? A. Consultants and stakeholders B. Stakeholders and functional managers C. Project team members and consultants D. Project team members and stakeholders Correct Answer: D Section: Volume B Explanation Explanation/Reference: QUESTION 162 Which quality tool may prove useful in understanding and estimating the cost of quality in a process? CAPM www.Dumpsgate.com .com 103 A. Checksheets B. Histograms C. Flowcharts D. Control charts Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 163 The following is a network diagram for a project. The total float for the project is how many days? A. 5 B. 9 C. 12 D. 14 Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 164 The following is a network diagram for a project. CAPM www.Dumpsgate.com .com 104 The free float for Activity E is how many days? A. 2 B. 3 C. 5 D. 8 Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 165 Retreating from an actual or potential conflict or postponing the issue to be better prepared or to be resolved by others describes which of the five general techniques for managing conflict? A. Smooth/accommodate B. Withdraw/avoid C. Compromise/reconcile D. Force/direct Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 166 Specification of both the deliverables and the processes is the focus of: A. Change control B. Configuration control C. Project monitoring and control D. Issue control Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: Configuration control is focused on the specification of both the deliverables and the processes; while change control is focused on identifying, documenting, and approving or rejecting changes to the project documents, deliverables, or baselines. Some of the configuration management activities included in the Perform Integrated Change Control process are as follows: Configuration identification. Identification and selection of a configuration item to provide the basis for which the product configuration is defined and verified, products and documents are labeled, changes are managed, and accountability is maintained. Configuration status accounting. Information is recorded and reported as to when appropriate data about the configuration item should be provided. This information includes a listing of approved configuration CAPM www.Dumpsgate.com .com 105 identification, status of proposed changes to the configuration, and the implementation status of approved changes. Configuration verification and audit. Configuration verification and configuration audits ensure the composition of a project’s configuration items is correct and that corresponding changes are registered, assessed, approved, tracked, and correctly implemented. This ensures the functional requirements defined in the configuration documentation have been met. QUESTION 167 Which output of Project Cost Management consists of quantitative assessments of the probable costs required to complete project work? A. Activity cost estimates B. Earned value management C. Cost management plan D. Cost baseline Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 7.2.3.1 Activity Cost Estimates Activity cost estimates are quantitative assessments of the probable costs required to complete project work. Cost estimates can be presented in summary form or in detail. Costs are estimated for all resources that are applied to the activity cost estimate. This includes, but is not limited to, direct labor, materials, equipment, services, facilities, information technology, and special categories such as cost of financing (including interest charges), an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if they are included in the project estimate, can be included at the activity level or at higher levels. QUESTION 168 While processes in the Planning Process Group seek to collect feedback and define project documents to guide project work, organizational procedures dictate when the project planning: A. ends. B. begins. C. delays. D. deviates. Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 169 A stakeholder expresses a need not known to the project manager. The project manager most likely missed a step in which stakeholder management process? A. Plan Stakeholder Management B. Identify Stakeholders C. Manage Stakeholder Engagement D. Control Stakeholder Engagement CAPM www.Dumpsgate.com .com 106 Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 13.2 Plan Stakeholder Management Definition: Stakeholder Management is the process of developing appropriate management strategies to effectively engage stakeholders throughout the project life cycle, based on the analysis of their needs, interests, and potential impact on project success. Key Benefit: The key benefit of this process is that it provides a clear, actionable plan to interact with project stakeholders to support the project’s interests. Inputs 1. Project management plan 2. Stakeholder register 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Analytical techniques Outputs 1. Stakeholder management plan 2. Project documents updates QUESTION 170 Skills necessary for project management such as motivating to provide encouragement; listening actively; persuading a team to perform an action; and summarizing, recapping, and identifying next steps are known as: A. organizational skills B. technical skills C. communication skills D. hard skills Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Negotiation, influencing and problem-solving skills are all important for a project manager to possess; however, good communication skills are the most important skills a project manager. QUESTION 171 Which tools or techniques are used during the Close Project or Phase process? A. Reserve analysis and expert judgment B. Facilitation techniques and meetings C. Expert judgment and analytical techniques D. Performance reviews and meetings Correct Answer: C Section: Volume B Explanation Explanation/Reference: CAPM www.Dumpsgate.com .com 107 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). Process: 4.6. Close Project or Phase Definition: The process of finalizing all activities across all of the Project Management Process Groups to formally complete the phase or project. Key Benefit: The key benefit of this process is that it provides lessons learned, the formal ending of project work, and the release of organization resources to pursue new endeavors. Inputs 1. Project management plan 2. Accepted deliverables 3. Organizational process assets Tools & Techniques 1. Expert judgment 2. Analytical techniques 3. Meetings Outputs 1. Final product, service, or result transition 2. Organizational process assets updates QUESTION 172 When a project is undertaken to reduce defects in a product or service, the objective of the project is to create a/an: A. improvement B. program C. result D. portfolio Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 173 The degree of uncertainty an entity is willing to take on in anticipation of a reward is known as its risk: A. management B. response C. tolerance D. appetite CAPM www.Dumpsgate.com .com 108 Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 11 PROJECT RISK MANAGEMENT [..] Organizations perceive risk as the effect of uncertainty on projects and organizational objectives. Organizations and stakeholders are willing to accept varying degrees of risk depending on their risk attitude. The risk attitudes of both the organization and the stakeholders may be influenced by a number of factors, which are broadly classifed into three themes: Risk appetite, which is the degree of uncertainty an entity is willing to take on in anticipation of a reward. Risk tolerance, which is the degree, amount, or volume of risk that an organization or individual will withstand. Risk threshold, which refers to measures along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk. Above that risk threshold, the organization will not tolerate the risk. For example, an organization’s risk attitude may include its appetite for uncertainty, its threshold for risk levels that are unacceptable, or its risk tolerance at which point the organization may select a different risk response. Positive and negative risks are commonly referred to as opportunities and threats. The project may be accepted if the risks are within tolerances and are in balance with the rewards that may be gained by taking the risks. Positive risks that offer opportunities within the limits of risk tolerances may be pursued in order to generate enhanced value. For example, adopting an aggressive resource optimization technique is a risk taken in anticipation of a reward for using fewer resources. QUESTION 174 The zero duration of milestones in project planning occurs because milestones: A. Are unpredictable and challenge the Plan Schedule Management process. B. Occur at random times in the project plans. C. Represent a moment in time such as a significant project point or event. D. Represent both significant and insignificant points in the project and are difficult to anticipate. Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 175 Which type of graphic is displayed below? CAPM www.Dumpsgate.com .com 109 A. Work breakdown structure B. Context diagram C. Control chart D. Pareto diagram Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 176 An example of a group decision-making technique is: A. nominal group technique B. majority C. affinity diagram D. multi-criteria decision analysis Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 177 Which tool or technique used in the Control Procurements process can be conducted during the execution of the project to verify compliance with deliverables? A. Procurement documents B. Inspection and audits C. Estimate budget D. Risk register Correct Answer: B Section: Volume B Explanation CAPM www.Dumpsgate.com .com 110 Explanation/Reference: Explanation: Inspections and Audits. A process to observe performance of contracted work or a promised product against agreed-upon requirements. Process: 12.3 Control Procurements Definition: The process of managing procurement relationships, monitoring contract performance, and making changes and corrections as appropriate. Key Benefit: The key benefit of this process is that it ensures that both the seller’s and buyer’s performance meets procurement requirements according to the terms of the legal agreement. Inputs 1. Project management plan 2. Procurement documents 3. Agreements 4. Approved change requests 5. Work performance reports 6. Work performance data Tools & Techniques 1. Contract change control system 2. Procurement performance reviews 3. Inspections and audits 4. Performance reporting 5. Payment systems 6. Claims administration 7. Records management system Outputs 1. Work performance information 2. Change requests 3. Project management plan updates 4. Project documents updates 5. Organizational process assets updates QUESTION 178 Job satisfaction, challenging work, and sufficient financial compensation are values related to which interpersonal skill? A. Influencing B. Motivation C. Negotiation D. Trust building Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 179 The following is a network diagram for a project. CAPM www.Dumpsgate.com .com 111 The shortest non-critical path for the project is how many days in duration? A. 10 B. 12 C. 14 D. 16 Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 180 The following is a network diagram for a project. The critical path for the project is how many days in duration? A. 10 B. 12 CAPM www.Dumpsgate.com .com 112 C. 14 D. 17 Correct Answer: D Section: Volume B Explanation Explanation/Reference: QUESTION 181 The component of the human resource management plan that includes ways in which team members can obtain certifications that support their ability to benefit the project is known as: A. recognition and rewards B. compliance C. staff acquisition D. training needs Correct Answer: D Section: Volume B Explanation Explanation/Reference: QUESTION 182 Stakeholders can be identified in later stages of the project because the Identify Stakeholders process should be: A. Continuous B. Discrete C. Regulated D. Arbitrary Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 13.1 Identify Stakeholders Definition: The process of identifying the people, groups, or organizations that could impact or be impacted by a decision, activity, or outcome of the project; and analyzing and documenting relevant information regarding their interests, involvement, interdependencies, influence, and potential impact on project success. Key Benefit: The key benefit of this process is that it allows the project manager to identify the appropriate focus for each stakeholder or group of stakeholders. Inputs 1. Project charter 2. Procurement documents 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Stakeholder analysis CAPM www.Dumpsgate.com .com 113 2. Expert judgment 3. Meetings Outputs 1. Stakeholder register QUESTION 183 A graphic display of project team members and their reporting relationships is known as a: A. Resource calendar. B. Project organization chart. C. Resource breakdown structure (RBS). D. Responsibility assignment matrix (RAM). Correct Answer: B Section: Volume B Explanation Explanation/Reference: Explanation: Project organization charts. A project organization chart is a graphic display of project team members and their reporting relationships. It can be formal or informal, highly detailed or broadly framed, based on the needs of the project. For example, the project organization chart for a 3,000-person disaster response team will have greater detail than a project organization chart for an internal, twenty-person project. QUESTION 184 Which item is a cost of conformance? A. Training B. Liabilities C. Lost business D. Scrap Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 185 Which key interpersonal skill of a project manager is defined as the strategy of sharing power and relying on interpersonal skills to convince others to cooperate toward common goals? A. Collaboration B. Negotiation C. Decision making D. Influencing Correct Answer: D Section: Volume B Explanation Explanation/Reference: CAPM www.Dumpsgate.com .com 114 QUESTION 186 Activity cost estimates and the project schedule are inputs to which Project Cost Management process? A. Estimate Costs B. Control Costs C. Plan Cost Management D. Determine Budget Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 7.2.3.1 Activity Cost Estimates Activity cost estimates are quantitative assessments of the probable costs required to complete project work. Cost estimates can be presented in summary form or in detail. Costs are estimated for all resources that are applied to the activity cost estimate. This includes, but is not limited to, direct labor, materials, equipment, services, facilities, information technology, and special categories such as cost of financing (including interest charges), an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if they are included in the project estimate, can be included at the activity level or at higher levels. Process: 7.3 Determine Budget Definition: The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled. Inputs 1. Cost management plan 2. Scope baseline 3. Activity cost estimates 4. Basis of estimates 5. Project schedule 6. Resource calendars 7. Risk register 8. Agreements 9. Organizational process assets Tools & Techniques 1. Cost aggregation 2. Reserve analysis 3. Expert judgment 4. Historical relationships 5. Funding limit reconciliation Outputs 1. Cost baseline 2. Project funding requirements 3. Project documents updates QUESTION 187 In project management, a temporary project can be: A. Completed without planning B. A routine business process C. Long in duration CAPM www.Dumpsgate.com .com 115 D. Ongoing to produce goods Correct Answer: C Section: Volume B Explanation Explanation/Reference: QUESTION 188 Which document in the project management plan can be updated in the Plan Procurement Management process? A. Budget estimates B. Risk matrix C. Requirements documentation D. Procurement documents Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Process: 12.1 Plan Procurement Management Definition: The process of documenting project procurement decisions, specifying the approach, and identifying potential sellers. Key Benefit: The key benefit of this process is that it determines whether to acquire outside support, and if so, what to acquire, how to acquire it, how much is needed, and when to acquire it. Inputs 1. Project management plan 2. Requirements documentation 3. Risk register 4. Activity resource requirements 5. Project schedule 6. Activity cost estimates 7. Stakeholder register 8. Enterprise environmental factors 9. Organizational process assets Tools & Techniques 1. Make-or-buy analysis 2. Expert judgment 3. Market research 4. Meetings Outputs 1. Procurement management plan 2. Procurement statement of work 3. Procurement documents 4. Source selection criteria 5. Make-or-buy decisions 6. Change requests 7. Project documents updates QUESTION 189 Which type of probability distribution is used to represent uncertain events such as the outcome of a test or a CAPM www.Dumpsgate.com .com 116 possible scenario in a decision tree? A. Uniform B. Continuous C. Discrete D. Linear Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: Decision Tree Analysis. A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty. – Can only be used with discrete data. QUESTION 190 Which change request is an intentional activity that realigns the performance of the project work with the project management plan? A. Update B. Preventive action C. Defect repair D. Corrective action Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 4.3.3.3 Change Requests A change request is a formal proposal to modify any document, deliverable, or baseline. An approved change request will replace the associated document, deliverable, or baseline and may result in an update to other parts of the project management plan. When issues are found while project work is being performed, change requests are submitted, which may modify project policies or procedures, project scope, project cost or budget, project schedule, or project quality. Other change requests cover the needed preventive or corrective actions to forestall negative impact later in the project. Requests for a change can be direct or indirect, externally or internally initiated, and can be optional or legally/contractually mandated, and may include: Corrective action—An intentional activity that realigns the performance of the project work with the project management plan; Preventive action—An intentional activity that ensures the future performance of the project work is aligned with the project management plan; Defect repair—An intentional activity to modify a nonconforming product or product component; Updates—Changes to formally controlled project documents, plans, etc., to reflect modified or additional ideas or content. QUESTION 191 Using parametric estimating, if an assigned resource is capable of producing 120 units per hour, how many hours are required to produce 12,000 units? A. 100 CAPM www.Dumpsgate.com .com 117 B. 120 C. 1,000 D. 1,200 Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 192 Which stakeholder approves a project’s result? A. Customer B. Sponsor C. Seller D. Functional manager Correct Answer: A Section: Volume B Explanation Explanation/Reference: QUESTION 193 Which process involves determining, documenting, and managing stakeholders’ needs and requirements to meet project objectives? A. Collect Requirements B. Plan Scope Management C. Define Scope D. Define Activities Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 5.2 Collect Requirements Definition: The process of determining, documenting, and managing stakeholder needs and requirements to meet project objectives. Key Benefit: The key benefit of this process is that it provides the basis for defining and managing the project scope including product scope. Inputs 1. Scope management plan 2. Requirements management plan 3. Stakeholder management plan 4. Project charter 5. Stakeholder register Tools & Techniques 1. Interviews 2. Focus groups CAPM www.Dumpsgate.com .com 118 3. Facilitated workshops 4. Group creativity techniques 5. Group decision-making techniques 6. Questionnaires and surveys 7. Observations 8. Prototypes 9. Benchmarking 10. Context diagrams 11. Document analysis Outputs 1. Requirements documentation 2. Requirements traceability matrix QUESTION 194 Plan Communications Management develops an approach and plan for project communications based on stakeholders’ needs and requirements and: A. Available organizational assets B. Project staff assignments C. Interpersonal skills D. Enterprise environmental factors Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 10.1 Plan Communications Management Definition: The process of developing an appropriate approach and plan for project communications based on stakeholder’s information needs and requirements, and available organizational assets. Key Benefit: The key benefit of this process is that it identifies and documents the approach to communicate most effectively and efficiently with stakeholders. Inputs 1. Project management plan 2. Stakeholder register 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Communication requirements analysis 2. Communication technology 3. Communication models 4. Communication methods 5. Meetings Outputs 1. Communications management plan 2. Project documents updates QUESTION 195 Perform Integrated Change Control is the process of: A. Reviewing, approving, and managing all change requests B. Facilitating change management, manuals, or automation tools CAPM www.Dumpsgate.com .com 119 C. Comparing actual results with planned results in order to expand or change a project D. Documenting changes according to the change control system by the change control board Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: Process: 4.5 Perform Integrated Change Control Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates QUESTION 196 When painting a bedroom, preparing the walls can be done while the paint is being chosen. This is an example of a: A. lead B. lag C. mandatory dependency D. internal dependency Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 6.3.2.2 Dependency Determination Dependencies may be characterized by the following attributes: mandatory or discretionary, internal or external, as described below. Dependency has four attributes, but two can be applicable at the same time in following ways: mandatory external dependencies, mandatory internal dependencies, discretionary external dependencies, or discretionary internal dependencies. CAPM www.Dumpsgate.com .com 120 Mandatory dependencies. Mandatory dependencies are those that are legally or contractually required or inherent in the nature of the work. Mandatory dependencies often involve physical limitations, such as on a construction project, where it is impossible to erect the superstructure until after the foundation has been built, or on an electronics project, where a prototype has to be built before it can be tested. Mandatory dependencies are also sometimes referred to as hard logic or hard dependencies. Technical dependencies may not be mandatory. The project team determines which dependencies are mandatory during the process of sequencing the activities. Mandatory dependencies should not be confused with assigning schedule constraints in the scheduling tool. Discretionary dependencies. Discretionary dependencies are sometimes referred to as preferred logic, preferential logic, or soft logic. Discretionary dependencies are established based on knowledge of best practices within a particular application area or some unusual aspect of the project where a specific sequence is desired, even though there may be other acceptable sequences. Discretionary dependencies should be fully documented since they can create arbitrary total float values and can limit later scheduling options. When fast tracking techniques are employed, these discretionary dependencies should be reviewed and considered for modifcation or removal. The project team determines which dependencies are discretionary during the process of sequencing the activities. External dependencies. External dependencies involve a relationship between project activities and non- project activities. These dependencies are usually outside the project team’s control. For example, the testing activity in a software project may be dependent on the delivery of hardware from an external source, or governmental environmental hearings may need to be held before site preparation can begin on a construction project. The project management team determines which dependencies are external during the process of sequencing the activities. Internal dependencies. Internal dependencies involve a precedence relationship between project activities and are generally inside the project team’s control. For example, if the team cannot test a machine until they assemble it, this is an internal mandatory dependency. The project management team determines which dependencies are internal during the process of sequencing the activities. QUESTION 197 Which action is included in the Control Costs process? A. Identify how the project costs will be planned, structured, and controlled B. Determine policies, objectives, and responsibilities to satisfy stakeholder needs C. Develop an approximation of the monetary resources needed to complete project activities D. Monitor cost performance to isolate and understand variances from the approved cost baseline Correct Answer: D Section: Volume B Explanation Explanation/Reference: Explanation: 7.3.3.1 Cost Baseline The 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. Process: 7.4 Control Costs Definition: The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline. Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled. Inputs 1. Project management plan 2. Project funding requirements 3. Work performance data 4. Organizational process assets CAPM www.Dumpsgate.com .com 121 Tools & Techniques 1. Earned value management 2. Forecasting 3. To-complete performance index (TCPI) 4. Performance reviews 5. Project management software 6. Reserve analysis Outputs 1. Work performance information 2. Cost forecasts 3. Change requests 4. Project management plan updates 5. Project documents updates 6. Organizational process assets updates QUESTION 198 What is the risk rating if the probability of occurrence is 0.30 and the impact if it does occur is moderate (0.20)? A. 0.03 B. 0.06 C. 0.10 D. 0.50 Correct Answer: B Section: Volume B Explanation Explanation/Reference: QUESTION 199 A complete set of concepts, terms, and activities that make up an area of specialization is known as: A. a Knowledge Area B. a Process Group C. program management D. portfolio management Correct Answer: A Section: Volume B Explanation Explanation/Reference: Explanation: 3.9 Role of the Knowledge Areas The 47 project management processes identified in the PMBOK® Guide are further grouped into ten separate Knowledge Areas. A Knowledge Area represents a complete set of concepts, terms, and activities that make up a professional field, project management field, or area of specialization. These ten Knowledge Areas are used on most projects most of the time. Project teams should utilize these ten Knowledge Areas and other Knowledge Areas, as appropriate, for their specific project. The Knowledge Areas are: Project Integration Management, Project Scope Management, Project Time Management, Project Cost Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Risk Management, Project Procurement Management and Project Stakeholder Management. Each Knowledge Area within the PMBOK® Guide is contained in a separate section. CAPM www.Dumpsgate.com .com 122 QUESTION 200 The risk response strategy in which the project team acts to reduce the probability of occurrence or impact of a risk is known as: A. exploit B. avoid C. mitigate D. share Correct Answer: C Section: Volume B Explanation Explanation/Reference: Explanation: 11.5.2.1 Strategies for Negative Risks or Threats Three strategies, which typically deal with threats or risks that may have negative impacts on project objectives if they occur, are: avoid, transfer, and mitigate. The fourth strategy, accept, can be used for negative risks or threats as well as positive risks or opportunities. Each of these risk response strategies have varied and unique influence on the risk condition. These strategies should be chosen to match the risk’s probability and impact on the project’s overall objectives. Avoidance and mitigation strategies are usually good strategies for critical risks with high impact, while transference and acceptance are usually good strategies for threats that are less critical and with low overall impact. The four strategies for dealing with negative risks or threats are further described as follows: Avoid. Risk avoidance is a risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact. It usually 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 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. Transfer. Risk transference is a risk response strategy whereby the project team shifts the impact of a threat to a third party, together with ownership of the response. Transferring the risk simply gives another party responsibility for its management—it does not eliminate it. Transferring does not mean disowning the risk by transferring it to a later project or another person without his or her knowledge or agreement. Risk transference nearly always involves payment of a risk premium to the party taking on the risk. Transferring liability for risk is most effective in dealing with financial risk exposure. Transference tools can be quite diverse and include, but are not limited to, the use of insurance, performance bonds, warranties, guarantees, etc. Contracts or agreements may be used to transfer liability for specified risks to another party. For example, when a buyer has capabilities that the seller does not possess, it may be prudent to transfer some work and its concurrent risk contractually back to the buyer. In many cases, use of a cost-plus contract may transfer the cost risk to the buyer, while a fixed-price contract may transfer risk to the seller. Mitigate. Risk mitigation is a risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk. It implies a reduction in the probability and/or impact of an adverse risk to be within acceptable threshold limits. Taking early action to reduce the probability and/or impact of a risk occurring on the project is often more effective than trying to repair the damage after the risk has occurred. Adopting less complex processes, conducting more tests, or choosing a more stable supplier are examples of mitigation actions. Mitigation may require prototype development to reduce the risk of scaling up from a bench- scale model of a process or product. Where it is not possible to reduce probability, a mitigation response might address the risk impact by targeting linkages that determine the severity. For example, designing redundancy into a system may reduce the impact from a failure of the original component. Accept. Risk acceptance is a risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs. This strategy is adopted where it is not possible or cost- effective to address a specific risk in any other way. This strategy indicates that the project team has decided not to change the project management plan to deal with a risk, or is unable to identify any other suitable response strategy. This strategy can be either passive or active. Passive acceptance requires no action except CAPM www.Dumpsgate.com .com 123 to document the strategy, leaving the project team to deal with the risks as they occur, and to periodically review the threat to ensure that it does not change significantly. The most common active acceptance strategy is to establish a contingency reserve, including amounts of time, money, or resources to handle the risks.
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
Fact Check Policy
CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
The steps are much the same for Video Discovery ads, until the point you choose your ad format.
For Video Discovery ads:
You must choose a thumbnail for your ad – think about how this will serve as the ‘teaser’ for your ad on the networks that you select.
You will write ad copy to accompany your thumbnails – this text follows the same guidelines for Google AdWords text ads.
When a user clicks on your Discovery ad, you can choose to bring them to either the video’s watch page on YouTube or your YouTube Channel page – you cannot direct users to an external website.
It’s very important to remember your companion banner when creating your video ads. A companion banner is a clickable thumbnail image that accompanies a TrueView in-stream ad. On a YouTube watch page, it appears next to the ad, in the top right corner (on a desktop computer).
You can choose from an auto-generated companion banner or upload your own. The technical specifications for companion banners that must be adhered to are: Dimensions: 300×60 pixels. Maximum file size: 150KB.
Our third video ad format is the Bumper ad, a short, non-skippable format that is no longer than 6 seconds. You will have to have a video already edited to the required length. You will also have to bid on a CPM basis for these ads as they are not view or click-based. Like you did before, sign in to AdWords and follow the below steps:
Click the campaigns tab and create a standard video campaign for your bumper ads.
Create your first adgroup and select the video you uploaded for this ad and select the Bumper Ads format.
Next, set your budget. “Bidding” will be set to Maximum CPM because of the bumper format.
Choose your basic initial settings – networks, locations you want to target, the language of your customers, and any advanced settings.
Click Save and continue.
3 brands; X-box, La Mer and SurveyMonkey used bumper ads for different forms of storytelling, from remarketing to simple storytelling. Great examples of using short-form content to achieve your goals effectively.
X-box: Launch day of the X-box game Halo Wars 2, they invested heavily in remarketing with bumper ads
La Mer: Used bumper ads to efficiently drive awareness of the brand’s new makeup suite, with a bumper ad for each product of the suite.
SurveyMonkey: Used bumper ads to highlight the value and ease of its tool by messaging the main components of its platform: “creating surveys, collecting answers, and analyzing results”.
Advanced advertisers may choose to run a universal app campaign to promote their app across the web – but the solution is not as advanced as you may think once you already have an app live within the Play store.’
Create a universal app ad in your video campaign:
1. Sign into your AdWords account at https://adwords.google.com. 2. In the “Campaigns” tab, click +Campaign and select Universal App campaign. 3. Enter a campaign name. You might use a name that tells you this is an app installs campaign. The on-screen instructions will prompt you through the setup. The benefits of a Universal App Campaign is the wide variety and reach of this campaign which utilises a wide variety of creative assets. 4. Start by selecting the app you will be advertising from the drop-down menu, or “Add a new app” to enter a new one. 5. In the “Ads” section you can enter up to 4 individual lines of text, these will be rotated within your ads depending on the format being displayed 6. Upload your image assets, and be sure to remember:
You can include up to 20 image files with a max size of 150KB.
Landscape images are most relevant for native ad units while portrait orientation is most valuable for interstitial content, particularly on mobile.
7. You can also include up to 20 YouTube videos for use as ad creative – in addition to automatically generated videos created by AdWords with assets from your app store listing 8. Choose any target locations or languages. Just note that AdWords won’t translate your ads so your text and creative will have to align with these settings 9. In “Campaign Optimization” choose to optimize for Installs (gathering new users) or In-app Actions (new users likely to undertake an action, such as a purchase or profile creation). 10. Set target bids and budget – projected install volume is available for Android apps when your Play and AdWords accounts are linked
Click “Save and Continue” to launch your campaigns.
Note: Android app installs will automatically be tracked in Google Ads. Do you really struggle to increase your subscribers? Learn How To Get Free YouTube Subscribers
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include staff of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
Fact Check Policy
CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
According to the Longman Dictionary of Contemporary English, the internet is a computer system that allows millions of computer users around the world to exchange information. We want to look at internet influence on CRM.
OBJECTIVES OF THIS ARTICLE At the end of this lesson, you should be able to: · Discuss the relationship between CRM and Internet. · The Internet and Globalization · The major CRM packages that we have in the e-business environment.
When talking about the internet, it is a process that allows someone sitting in the corner of his room or office to send out messages or transact business with millions of users who were connected around the world.
In our own part of the world, it has been observed that many of the business that we have in the country has not embraced the use of information communication technology in the running of their business, that is why a large percentage of them remain stagnant.
The use of the internet in the conduct of your business will help your business to grow.
It will remove the border that you have built against your business. One thing that could prevent customers from transacting business with you is your location.
But with the advent of the internet, it is possible for you to transact business with individuals outside your country or continent without having your physical presence there.
Worthy of mention is what some IT organisations are doing now which many of us have been partakers of, without knowing that it is CRM in action.
You can actually pick some items online and pay online or you pay on delivery. It is one of the ways that internet add value to CRM.
Another way is that CRM allows customers to be served across multiple channels.
If you are a truly customer-centric enterprise, you will not force all your customers and prospects to come to your offices before they can enjoy the wide range of products and services that you have to offer.
In serving the customers through the internet, communicate with the organisation and enjoy the same quality of service. This will make them stick to your organisation for life.
In human nature, as we know, we always like to enjoy our freedom. Nobody likes to be controlled by others.
That is why people like to move to organisations that give them the freedom to do whatever they want to do.
Take, for example, a manager in the convenience of his office, with internet banking, could send and receive money from anywhere around the world.
He could also buy items from organisations that have their presence online. This is one of the arrays of ways that the internet has contributed to the growth of CRM.
CRM AND GLOBALIZATION Without mincing words, we will say that globalization is the process of turning the whole world into a global village.
This astronomical change was made possible through the use of the internet. In a global village, there is nothing like borders or sovereignty.
Without going through the process of obtaining a visa or other travel documents, you can now sell and receive goods from across the globe.
Looking at what has been discussed so far about customer relationship which has much to do with serving your customers across multiple channels, meeting their needs and putting technologies in place in order to ensure that wherever your customer is, they are able to enjoy the same quality products and services that they used to enjoy when they walk-in into any of your branch offices.
CRM in collaboration with its associated technologies, most especially with the use of the internet will place your organisation at the centre of the global village; you will be able to meet with different prospects and customers from across the world.
The main thing in CRM is that you should be able to predict your customer’s next move and meet them at the right place with the right products and services.
When you are doing business in globalize village, the customers are less concerned about where you are operating form as far as you are meeting their needs.
If you failed to meet their needs, the next organisation is just a mouse click away. That is why they don’t bother about your business location.
That is also the main reason why if you want to establish your presence in the globalize environment using the internet, you must be ready to constantly meet the need of your customers so that you don’t lose them as they are moving around your Life Cycle.
As far as you continue to meet their needs, they will continue to be loyal to your organisation.
Major CRM packages
#1 Team Support
This is a user-friendly help desk that helps businesses deliver the best possible experience to their customers by building teamwork, solving in-house communicating breakdowns and answering customer inquiries.
#2 Plan Plus Online Plan Plus Online provides collaboration and CRM for businesses. This web-based package helps increase productivity with features including sale automation, email marketing and project management.
#3 Mhelp Desk This is a web-based CRM solution that is a web-based solution that more than 6,000 companies use in improving look order visibility.
Their user-friendly interface helps businesses management support tickets, computer services and invoice and billing.
#4 Act-on This is an intuitive marketing automation solution, ideal for companies with minimal IT involvement.
Deployed as a web-based system, the solution will automatically update so that you can focus on your business, not your software.
#5 Saleforce.com This is the innovator behind cloud-based CRM systems. They played a huge part in popularizing the model by offering a contact management system that is assessable anywhere with the aid of an internet connection.
#6 Oracle Eloqua Oracle Eloqua is a leader in Business to Business marketing automation. It is a web-based system. It offers strong capabilities in demand generalization, lead management and revenue performance management.
#7 Tracker RMS CRM It offers cloud-based relationship management systems for sales, support, project management and recruiting.
The tool easily integrates with Microsoft Outlook and it is easily assessable from any internet-capable mobile device.
#8 Leadmaster Lead Management This is an online CRM solution that offers a full set of features including online tracking, sales force automation and real-time data mining.
It can be customized for specific industries, including insurance and real estate firms.
#9 Marketo Lead Management It was founded in 2006. The software was developed for the Business to Business (B2B) marketer and is the most rapidly growing solution on the market for lead management.
#10 Nextiva Hosted Call Centre Nextiva provides telephony packages for small businesses that can be easily managed from an online dashboard.
Their hosted call centre solution is also a tool for managing queues, routing and automatic call distribution online.
SUMMARY
At the end of this lesson, we have been able to discover that:
The internet helps to put the business on the world map.
It helps you to serve your customers across multiple centres.
It allows you to give your customers the freedom that they crave.
We have some CRM packages that organisations can use such as team support, plan Plus Online, Mhelp Desk, Act-on, and Salecom. Oracle Eloqua among others.
BRAINSTORMING SESSION
If you are the new CRM Manager for Sterling Bank Plc, you have been asked to prepare a blueprint for the migration of the Bank to a “one customer bank” How will you go about this?
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
Fact Check Policy
CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
We will also talk about what you need to know about your profitable customers.
When we talk about CRM, we are talking of ways by which an organization tries to do business from the customers’ perspective.
OBJECTIVE OF THIS ARTICLE
In this article, we are going to look at Customer-Centric Strategy (CCS). We will also be looking at what an organisation needs to do in order to evolve into a Customer-Centric Enterprise. We will be looking at this under two main headings.
acquiring new customers
Retaining customers.
We will also talk about what you need to know about your profitable customers.
When we talk about CRM, we are talking of ways by which an organization tries to do business from the customers’ perspective.
Whatever form an organization adopts in order to be customer-centric, it is always aimed at acquiring new customers, customer retention and increasing customer profitability.
Acquiring New Customers If an entrepreneur wants to start a new business, he first has to think up the right idea.
You have to make sure that you are producing what is needed by prospects and customers in your vicinity.
One thing you should know is that a portion of your resources should be committed to acquiring new customers for your products and services.
In a customer-centric enterprise, acquiring new customers is one of their top priorities.
You should understand that organizations operate in competitive environments where they have to compete for existing prospects and customers in the market square.
They always achieve this through superior customer in service and an increase in customer experience. They take even’ the opportunity to delight their customers.
In acquiring new customers, communication is very important. You must be able to get the right information to the right target in the right manner.
The organization must be able to project the right image of the organization. They would achieve this by projecting the profiles of the company’s best customers.
Retaining Customers
Once an organization acquires a new customer, they have a more serious task at hand, which has to do with retaining the customer and preventing the loss of customers to competitors.
In retaining your customers, you have to understand the relationship between the company and the brand
The channel of distribution and the customer Competitors always try to draw away customers through innovation and incentives which are meant to draw customers from another life cycle.
In a survey conducted by Deloitte and Touch, it was discovered that it cost five times as much to acquire a new customer as it does to keep an existing one.
Another research conducted by Fredrick Reicheld reported that a five percent retention in customers over their lifetime results in an 85 to 125 percent increase in company margin over that same time period.
In retaining customers, the organization must be able to communicate information about new products and innovations to the customers in real-time. They must do this throughout the entire tenure of the customer with the organization.
This must also be passed through the appropriate channels that the customer prefers.
The firm in retaining its customers must be able to know its customers very well.
They have to study customer interaction and use the knowledge to their own advantage.
They must be able to know when their customer is changing and utilize the knowledge in formulating a better CRM for them. they must set up an appropriate messaging process aimed at getting repeated purchases from their customers.
A customer-centric enterprise must keep track of the satisfaction level of its customers through appropriate feedback mechanisms aimed at knowing the response of its customers to its products and services.
They should be able to suggest to customers more ways of deriving more benefits from the product.
When an organization can increase the utilitarian benefits of their product, it will make customers come for more of such products/services.
In order to retain customers, organizations must come up with loyalty programs aimed at increasing the frequency and involvement level of the customer One of the ways of measuring this involvement is Life Time Value (LTV).
Lifetime value is measured in terms of historical and projected lifetime value. It allows the organization to begin to allocate marketing resources by the segmented group and individual levels.
In CRM, through the aid of technology, you can calculate what you can invest in a particular segment over a particular period of time.
For example, Etisalat Nigeria can decide to invest more money in the youth segment than the working class or elite segment.
Note: Reactivation or retention is critical to the success of customer-centric enterprises.
If a customer is perceived to be profitable, the enterprise will require five kinds of information to be gathered. These include:
Customers want and need
Customer purchase cycle
Customer interaction opportunities
Customer profile
Customer life cycle
Customer Purchase Cycle
This is the period between the customer’s first purchase and the next purchase.
The organization must also take note of the likelihood of additional purchases and the nature of purchases made by the customer.
Customer Interaction Opportunities
Tm water to enhance customer loyalty, customer-centric organisations must maximize interaction with the customer organisation. This is where touchpoints became necessary.
Customer Profile
Any organization that wishes to relate to and retain its customers must have robust customer support services in order to have formidable customer service.
The organization must have enough information about their customers. It is might include it in a relationship they have, the size.
Customer Life Cycle
The customer life cycle of an organisation traces the lifetime of the customer as it relates to his product use.
It starts from the use of the product to the time that the customer disengages or die as the case may be.
The organisation must be able to predict the behaviour of its customers and predict his next move in order to prolong his stay in the organization’s life cycle.
The purpose of evolving into a customer-centric is not for profit motive but it can help in saving costs through increased effectiveness of the organisations’ internal processes.
If the internal process is well developed, it will increase the return on investment of a CRM initiative.
SUMMARY
In this chapter, we have looked at a customer-centric strategy. We focused our attention on how to gain new customers and how to retain customers.
We also said that it is better to focus on how the organisation will not lose customers to competitors because it will cost more to acquire new customers than to retain them.
We talked about what you need to know about your profitable customers. These include:
Customers need and want
Customers purchase cycle
Customers interaction opportunities
Customers profile
Customers Life Cycle
BRAINSTORMING SESSION
Discuss the relationship between the Internet and CRM.
Discuss CRM and Globalization
Do you think CRM can work without technology or software?
Action Point PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.
Fact Check Policy
CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.
