How can a project manager evaluate project team development?
Correct Answer: A
Section: Volume E
Question 42
The process of identifying the stakeholders' information needs is completed during:
Correct Answer: A
Section: Volume D 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 43
The project manager is working with some functional managers and stakeholders on the resource management plan. Which elements may be included in this plan?
Correct Answer: C
Section: Volume E
Question 44
Reserve analysis is a tool and technique used in which process?
Correct Answer: D
Section: Volume A Explanation: 11.6.2.5 Reserve Analysis Throughout execution of the project, some risks may occur with positive or negative impacts on budget or schedule contingency reserves. Reserve analysis compares the amount of the contingency reserves remaining to the amount of risk remaining at any time in the project in order to determine if the remaining reserve is adequate. Process: 11.6 Control Risks Definition: The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project. Key Benefit: The key benefit of this process is that it improves efficiency of the risk approach throughout the project life cycle to continuously optimize risk responses. Inputs 1. Project management plan 2. Risk register 3. Work performance data 4. Work performance reports Tools & Techniques 1. Risk reassessment 2. Risk audits 3. Variance and trend analysis 4. Technical performance measurement 5. Reserve analysis 6. Meetings Outputs 1. Work performance information 2. Change requests 3. Project management plan updates 4. Project documents updates 5. Organizational process assets updates 6.5.2.6 Reserve Analysis Duration estimates may include contingency reserves, sometimes referred to as time reserves or buffers, into the project schedule to account for schedule uncertainty. Contingency reserves are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted and for which contingent or mitigation responses are developed. Contingency reserves are associated with the "known-unknowns," which may be estimated to account for this unknown amount of rework. As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated. Contingency should be clearly identified in schedule documentation. [..] Estimates may also be produced for the amount of management reserve of time for the project. Management reserves are a specified amount of the project duration withheld for management control purposes and are reserved for unforeseen work that is within scope of the project. Management reserves are intended to address the "unknown-unknowns" that can affect a project. Management reserve is not included in the schedule baseline, but it is part of the overall project duration requirements. Depending on contract terms, use of management reserves may require a change to the schedule baseline.
Question 45
In which Project Management Process Group is the project charter developed?
Correct Answer: C
Section: Volume D Explanation: Initiating Process Group. Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase. 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
