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Project Management Strategies for Value

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0% found this document useful (0 votes)
639 views4 pages

Project Management Strategies for Value

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Question 1: A project manager is part of a project management strategy focus group that

is brainstorming the ways projects will be used to add business value to the organization in
the upcoming quarter. Which statement(s) describes broadly how organizations use
projects to add business value?

A. Projects are used to develop new products, processes, or services.


B. Projects are used to modify existing products, processes, or services.
C. Projects are used to deliver day-to-day activities, processes, or services.
D. Projects are used to develop and modify products, processes, or services.

Question 2: A project manager has been assigned to a new project. During the initial review
of the project charter, the project manager reaches out to the project sponsor to discuss
important information that is missing in the document.
What piece of information is appropriate for the project manager to request?
A. Measurable objectives of critical success factors
B. Detailed description and requirements of the final deliverable
C. Work breakdown structure (WBS)
D. Performance measurement baseline

Question 3: A project sponsor assigns a project manager to a new, critical project. This
project has tight budget and time constraints.
What should the project manager do first?
A. Meet with functional managers to schedule team resources.
B. Meet with stakeholders to obtain their buy-in and support.
C. Meet with the project sponsor to understand the project's purpose and high level
requirements.
D. Update the requirements management plan to reflect the budget and time
constraints.

Question 4: What can a project manager do to communicate the formal project


announcement and relevant information to stakeholders, and then gain their
commitment?
A. Create the project charter.
B. Conduct a kick-off meeting.
C. Develop the communications management plan.
D. Prepare and distribute the responsible, accountable, consult, and inform (RACI)
matrix.
Question 5: A project manager is midway through project delivery. The project manager
decides to hold a stakeholder engagement meeting with senior management and the clients
to examine if the project deliverables are achieving business value.
Which of the documents contains critical information to help the project manager with this?
A. Work breakdown structure
B. Project management plan
C. Project scope statement
D. Business case
Question 6: A local government passes a law that affects the scope of a project that is currently in
the execution phase. The regulations take effect immediately. The project manager knows that the
project schedule and budget will be impacted as a result.

What should the project manager do first?

A. Initiate a project risk management process to assess and mitigate the risk.
B. Seek expert judgment regarding the scope of the new regulations.
C. Consult with key stakeholders to revise the project management plan.
D. Start the formal change control process.

Question 7: A local government provides subsidies for healthcare activities. An organization


plans to leverage this subsidy for a project to provide health testing services for at-risk
populations. After the project has started, the government announces that this testing
service might not qualify for the subsidy.
What should the project manager do?
A. Escalate the project risk to a higher level.
B. Meet with the project sponsor to redefine project benefits.
C. Inform the stakeholders of the need to develop a contingency plan.
D. Submit a change request to the change control board (CCB).

Question 8: Due to regulatory changes, a government agency is now a key stakeholder in a


complex project. An agency representative has asked the project manager to explain how
well the advantages derived from the project align with the agency's business strategies.
What should the project manager do?
A. Meet with the other stakeholders to discuss the project objectives.
B. Review the assumption log.
C. Update the stakeholder engagement plan.
D. Refer to the benefits management plan.
Question 9: A project manager is leading a development project for an external customer in
another country. Per regulatory guidelines, the project manager's company needs to meet
specific compliance requirements, and the project manager's project was selected for an
audit. The customer believes that the audit is unnecessary and requested that the project
team not be disturbed.
How should the project manager respond?
A. Exclude the project from the compliance audit as requested by the customer.
B. Meet with the customer to explain the need to meet the compliance requirements,
and allow the audit to occur.
C. Manage the audit without informing the customer since it is an organization
requirement.
D. Schedule a steering committee meeting with all stakeholders to discuss and come to
a common understanding.
Question 10: Who has the authority to act as an integral stakeholder and a key decision-
maker throughout the life of each project in order to keep it aligned with the business
objectives?
A. PMO
B. Project Manager
C. Project Sponsor
D. Customer
Question 11: A project manager is leading a project with seven key stakeholders. What
should the project manager consider as the most important part of stakeholder
management?
A. Avoid challenging stakeholders.
B. Make changes to the project schedule in real-time.
C. Ensure all stakeholders receive the same information.
D. Establish good working relationships with all stakeholders.

Question 12: The project sponsors for a multinational project have put a process in place that
generates emails and reports at the end of each phase. The goal is to ensure the project remains
unified across the company. The company plans to use the process as a model for future, similar
projects.

What should the project manager do?

A. Update the communications management plan to include details about the emails and
reports.
B. Include a formal sign-off at the end of each phase to engage the stakeholders.
C. Hold status meetings to solicit input from project sponsors for the emails and reports.
D. Update the stakeholder engagement plan at the end of each phase to maintain their
commitment to the project's success.
Question 13: A construction project is in the execution phase when several new team
members from different countries are assigned to the project. Which document should the
project manager update first?

A. Requirements management plan


B. Communications management plan
C. Assumption log
D. Stakeholder register
Question 14: A project manager in a global organization is responsible for a project involving
six different companies. Midway through the project, one stakeholder moves from one
company to another.
Which document should the project manager update?

A. Stakeholder engagement plan


B. Project charter
C. Stakeholder register
D. Project management plan

Question 15: A project manager is having difficulty managing stakeholders because the
stakeholder register does not distinguish how aware of the project they need to be in order
for the project to be successful.
What should the project manager do?

A. Meet with the change control board (CCB) to assess the impact of identifying new
stakeholders.
B. Update the stakeholder communication plan.
C. Determine each stakeholder's risk threshold.
D. Develop a stakeholder engagement assessment matrix.

Common questions

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Conducting a kick-off meeting is an effective way to announce a project formally and engage stakeholders by clarifying project goals, expectations, and roles. It sets the stage for stakeholder commitment and collaboration .

The project sponsor acts as an integral stakeholder and key decision-maker throughout the project, ensuring it stays aligned with the business objectives .

Organizations use projects to develop and modify products, processes, or services. This includes both the creation of new offerings and the adaptation of existing ones, to enhance business value and align with strategic goals .

A project manager should seek measurable objectives of critical success factors if they are missing from the project charter, as these are essential for defining success criteria and providing clear project direction .

Meeting with the project sponsor is crucial to understand the project's purpose and high-level requirements, which provides the necessary context and allows the project manager to align resources and activities effectively under tight constraints .

The project manager should meet with the customer to explain the imperative nature of compliance requirements and the necessity of the audit, thus balancing regulatory demands with client relations .

Establishing good working relationships with all stakeholders is crucial for effective stakeholder management, facilitating communication and collaboration across the project's lifecycle .

The project manager should inform stakeholders of the need to develop a contingency plan to address potential project risks associated with changes in subsidy qualifications .

The project manager should start the formal change control process to evaluate, document, and manage the changes in scope, schedule, and budget due to regulatory adjustments .

The business case document contains critical information needed to assess whether the project deliverables are achieving the intended business value and align with strategic objectives .

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